September 27, 2020 08:23

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Preliminary assessment of Vietnam international merchandise trade performance in the first 6 months of 2020

20:06 | 07/08/2020

Highlights   1. According to trade statistics of Vietnam Customs, in June of 2020, a 15.8% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of  May 2020. Exports went up 17.6 %, to USD 22.56 billion and imports increased 14%, to USD 20.71billion in terms of month-on- month basis. As a result, there was a USD 1.85 billion surplus in Vietnam’s trade balance in this month.

2. In the first 6 months of 2020, Vietnam‘s trade-in-goods totaled USD 240.11 billion in value terms, 1.4% below the corresponding period of last year. As compared to result of a year earlier, total merchandise exports value increased 0.2% to USD 122.79 billion and the total merchandise imports value down 2.9% to USD 117.33 billion. Accordingly, Vietnam’s trade balance in 6 months of 2020 was in the surplus of USD 5.46 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 145.38 billion in total for the first 6 months of 2020, down by 5.5 % on year-on-year basis. Total value of FDI exportation was USD 79.72 billion, decreased by 5.6%. On import side, the total value of those companies was USD 65.66 billion, down by 5.3%.

preliminary assessment of vietnam international merchandise trade performance in the first 6 months of 2020

Main Exports and Imports

4. The May of 2020 to June of 2020 increased in total merchandise exports was due to the upwards in textiles and garments (up by USD 734 million); telephones, mobile phones and parts thereof (up by USD 718 million); computers, electrical products, spare-parts and components thereof (up by USD 551 million);...

5.The increase of Vietnam‘s total merchandise exports in the first 6 months of 2020 was due to the upwards in computers, electrical products, spare-parts and components thereof (up by USD 3.95 billion); Machine, equipment, tools and instruments (up by USD 2.18 billion); …

preliminary assessment of vietnam international merchandise trade performance in the first 6 months of 2020


6.The May of 2020 to June of 2020 increase in total merchandise imports was due to the upwards in computers, electrical products, spare-parts and components thereof (up by USD 765 billion); machine, equipments, tools and instruments (up by USD 386 million);

7. On year-on-year basis, imports went down by 2.9%, to USD 117.33 billion. The decrease in imports was mainly contributed by the following products: crude oil (down by USD 1.08 billion);

machine, equipment, tools and entrustment (down by USD 935 million); motor vehicles (down by USD 784 million);

preliminary assessment of vietnam international merchandise trade performance in the first 6 months of 2020

​Trading Partners

8. In the first 6 months of 2020, Vietnamese merchandise trade with trading partners in Asia was totaled USD 153.25 billion in value terms, which moved down 0.4% as compared to the same period of 2019. Trade-in-goods of Vietnam with America reached USD 47.73 billion and increased by 10.3%. The values of other continents were Europe: USD 29.93 billion, down by 5.8%; Oceania: USD 4.66 billion, up by 8.2% and Africa: USD 3.05 billion, down by 4.7% in comparison with the same period of last year

preliminary assessment of vietnam international merchandise trade performance in the first 6 months of 2020

9. For the first 6 months of 2020, 4 exporting markets of Vietnam with turnover of over USD 4 billion were: The United States of America (reached USD 31.5 billion, up by 14.6%); China (reached USD 19.6 billion, up by 18%); Japan (reached USD 9.3 billion, down by 3.7%) and Republic of Korea (reached USD 9.1 billion, down by 0.02%)) as compared to the same period of last year.

preliminary assessment of vietnam international merchandise trade performance in the first 6 months of 2020


10. On import side, four partners exporting goods to Vietnam with turnover of over 4 billion were as follows: China (reached USD 34.9 billion); Republic of Korea (reached USD 20.8 billion); Japan (reached USD 9.4 billion); Taiwan (reached USD 7.5 billion).

preliminary assessment of vietnam international merchandise trade performance in the first 6 months of 2020

Source: Vietnam Customs

www.customs.gov.vn