September 24, 2018 05:27

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Preliminary assessment of Vietnam international merchandise trade performance in the first 11 months of 2017

15:37 | 22/12/2017

1. According to trade statistics of Vietnam Customs, in November 2017, a 2.6% upwards in total external merchandise turnover of Vietnam was recorded on month-on-month basis. Exports decreased 1.5 %, to USD 19.99 billion and imports went up 7.1%, to USD 19.39 billion as compared to the result of November 2016. As a result, there was a USD 898 million surplus in Vietnam’s trade balance in this month.

2. From the beginning to November of 2017, Vietnam‘s trade-in-goods totaled US dollars 385.77 billion in value terms, 21.4% above the corresponding period of last year. As compared to result of the first 11 months of 2017, total merchandise exports value rose 21.5%, to US dollars 194.47 billion and the total merchandise imports value increased 21.2% to US dollars 191.30 billion. Accordingly, Vietnam’s trade balance in January-November period of 2017 was in the surplus of US dollars 3.17 billion.

3. Trade data disseminated recently by Vietnam Customs announced that the total value of exportation and importation by foreign direct invested (FDI) traders reached USD 253.24 billion in total from beginning to November 2017, up by 23.3% as compared to the result of corresponding period of 2016. Total value of FDI exportation was USD 138.54 billion, went up by 23.2%. On import side, the total value of those companies was USD 114.69 billion, went up by 23.4%.

preliminary assessment of vietnam international merchandise trade performance in the first 11 months of 2017

Main Exports and Imports

4. On month-on-month basis, a decrease in total merchandise exports was due to the downturns in telephones, mobile phones and parts thereof (down by USD 659 million); other means of transportation, parts and accessories thereof (up by USD 93 million); fishery products (up by USD 88 million) … An increase occurred in exportation of some commodities such as: foot-wears (up by USD 186 million); still image, video cameras and parts thereof (up by USD 93 million); computers, electrical products, spare-parts and components thereof (up by USD 92 million)…

preliminary assessment of vietnam international merchandise trade performance in the first 11 months of 2017

5. On a year-on-year basis, exports expanded USD 30.6 billion. The main products, which contributed to the increase, were telephones, mobile phones and parts thereof (up by USD 9.76 billion); computers, electrical products, spare-parts and components thereof (up by USD 6.59 billion); machine, equipments, tools and instruments (up by USD 2.55 billion); textiles and garments (up by USD 2.04 million).

6. On month-on-month basis, a growth in total merchandise imports was due to the upturns of the commodities as follows: machine, equipments, tools and instruments (up by USD 341 million); computers, electrical products, spare-parts and components thereof (up by USD 223 million); … A downward occurred in importation of some commodities such as: telephones, mobile phones and parts thereof (down by USD 171 million); pharmaceutical products (down by USD 37 million); …

preliminary assessment of vietnam international merchandise trade performance in the first 11 months of 2017

7. On a year-on-year basis, imports went up USD 33.49 billion. The growth in imports was mainly contributed by the upturns of the following products: computers, electrical products, spare-parts and components thereof (up by USD 8.62 billion); machine, equipments, tools and instruments (up by USD 5.27 million); telephones, mobile phones and parts thereof (up by USD 4.92 million)…

Trading Partners

8. In the first 11 months of 2017, Vietnamese merchandise trade with trading partners in Asia was totaled USD 254.4 billion in value terms, which moved up 25.7% as compared to the same period of 2016. Trade-in-goods of Vietnam with America was followed, which reached USD 62.16 billion and increased by 10.8%. The values of other continents were Europe: USD 51.89 billion, up by 13.8%; Oceania: USD 7.07 billion, up by 24.5% and Africa: USD 6.25 billion, up by 27.6% in comparison with the same period of last year.

preliminary assessment of vietnam international merchandise trade performance in the first 11 months of 2017

9. For January-November period of 2017, 4 importing markets of Vietnam with turnover of over USD 13 billion were: The United States of America (reached USD 38.0 billion); China (reached USD 30.9 billion); Japan (reached USD 15.3 billion) and Republic of Korea (reached USD 13.5 billion).

preliminary assessment of vietnam international merchandise trade performance in the first 11 months of 2017

10. According to the following chart, top 3 big sources of Vietnam’s imports were as follows: China (reached USD 52.5 billion); Republic of Korea (reached USD 42.5 billion); Japan (reached USD 14.9 billion).

preliminary assessment of vietnam international merchandise trade performance in the first 11 months of 2017

Source: Vietnam Customs