September 26, 2018 18:06

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Preliminary assessment of Vietnam international merchandise trade performance in the first 5 months of 2018

06:04 | 24/08/2018

1.  According to trade statistics of Vietnam Customs, in May 2018, a 14.5% upwards in total external merchandise turnover of Vietnam was recorded on month-on-month basis. Exports went up 8.6%, to USD 19.95 billion and imports increased 20.7%, to USD 20.76 billion as compared to the result of April 2018. As a result, there was a USD 815 million deficit in Vietnam’s trade balance in this month.

2. From the beginning to May of 2018, Vietnam‘s trade-in-goods totaled US dollars 185.85 billion in value terms, 13.8% above the corresponding period of last year. On year-on-year basis, total merchandise exports value rose 17.3%, to US dollars 94.33 billion and the total merchandise imports value increased 10.4% to US dollars 91.52 billion. Accordingly, Vietnam’s trade balance in the first 5 months of 2018 was in the surplus of US dollars 2.81 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 120.15 billion in total from beginning to May 2018, up by 13.0% as compared to the result of corresponding period of 2017. Total value of FDI exportation was USD 66.34 billion, went up by 16.8 %. On import side, the total value of those companies was USD 53.81 billion, went up by 8.6%.

preliminary assessment of vietnam international merchandise trade performance in the first 5 months of 2018 8152

Main Exports and Imports

4. On month-on-month basis, an expansion in total merchandise exports was due to the upturns in computers, electrical products, spare-parts and components thereof (up by USD 315 million); foot-wears (up by USD 278 million); textiles and garments (up by USD 238 million)…

preliminary assessment of vietnam international merchandise trade performance in the first 5 months of 2018 8152

5. On a year-on-year basis, exports expanded USD 13.95 billion. The main products, which contributed to the increase, were telephones, mobile phones and parts thereof (up by USD 3.04 billion); machine, equipment, tools and instruments (up by USD 1.57 billion); textiles and garments (up by USD 1.49 billion); computers, electrical products, spare-parts and components thereof (up by USD 1.42 billion)...

6. On month-on-month basis, an increase in total merchandise imports was due to the upturns of the commodities as follows: computers, electrical products, spare-parts and components thereof (up by USD 720 million); machine, equipment, tools and instruments (up by USD 610 million); fabrics (up by USD 255 million); …

preliminary assessment of vietnam international merchandise trade performance in the first 5 months of 2018 8152

7. On a year-on-year basis, imports went up USD 8.74 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 2.45 billion); petroleum products (up by USD 1.03 billion); fabrics (up by USD 649 million); plastics (up by USD 558 million) …

Trading Partners

8. In the first 5 months of 2018, Vietnamese merchandise trade with trading partners in Asia was totaled USD 124.03 billion in value terms, which moved up 14.4% as compared to the same period of 2017. Trade-in-goods of Vietnam with America was followed, which reached USD 29.66 billion and increased by 10.0%. The values of other continents were Europe: USD 25.83 billion, up by 15.0%; Oceania: USD 3.62 billion, up by 21.5% and Africa: USD 2.71 billion, up by 9.8% in comparison with the same period of last year.

preliminary assessment of vietnam international merchandise trade performance in the first 5 months of 2018 8152

9. For January-May period of 2018, 4 importing markets of Vietnam with turnover of over USD 7 billion were: The United States of America (reached USD 17.6 billion); China (reached USD 13.8 billion); Japan (reached USD 7.4 billion); Republic of Korea (reached USD 7.2 billion).

preliminary assessment of vietnam international merchandise trade performance in the first 5 months of 2018 8152

10. According to the following chart, top 3 big sources of Vietnam’s imports were as follows: China (reached USD 24.8 billion); Republic of Korea (reached USD 18.8 billion); Japan (reached USD 7.3 billion).

preliminary assessment of vietnam international merchandise trade performance in the first 5 months of 2018 8152

Source: Vietnam Customs