September 27, 2020 07:10

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Preliminary assessment of Vietnam international merchandise trade performance in the first 7 months of 2020

19:29 | 10/09/2020

Highlights 1. According to trade statistics of Vietnam Customs, in July of 2020, an 8.5% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of June 2020. Exports went up 10.2 %, to USD 24.87 billion and imports increased 6.7%, to USD 22,09billion in terms of month-on- month basis. As a result, there was a USD 2.78 billion surplus in Vietnam’s trade balance in this month.

2. In the first 7 months of 2020, Vietnam‘s trade-in-goods totaled USD 286.82 billion in value terms, 0.8% below the corresponding period of last year. As compared to result of a year earlier, total merchandise exports value increased 1.5% to USD 147.61 billion and the total merchandise imports value down 3% to USD 139.21 billion. Accordingly, Vietnam’s trade balance in 7 months of 2020 was in the surplus of USD 8.39 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 172.86 billion in total for the first 7 months of 2020, down by 5.1 % on year-on-year basis. Total value of FDI exportation was USD 95.4 billion, decreased by 4.2%. On import side, the total value of those companies was USD 77.46 billion, down by 6.2%.

Preliminary assessment of Vietnam international merchandise trade performance in the first 7 months of 2020  	:  	EnglishNews  	: Vietnam Customs

Main Exports and Imports

4. The June of 2020 to July of 2020 increased in total merchandise exports was due to the upwards in mobile phones and parts thereof (up by USD 637 million); textiles and garments (up by USD 439 million); computers, Machine, equipment, tools and instruments (up by USD 379 billion)...

5. The increase of Vietnam‘s total merchandise exports in the first 7 months of 2020 was due to the upwards in computers, electrical products, spare-parts and components thereof (up by USD 4.96 billion); Machine, equipment, tools and instruments (up by USD 2.93 billion); …

Preliminary assessment of Vietnam international merchandise trade performance in the first 7 months of 2020  	:  	EnglishNews  	: Vietnam Customs

6. The June of 2020 to July of 2020 increase in total merchandise imports was due to the upwards in computers, electrical products, spare-parts and components thereof (up by USD 464 billion); machine, equipments, tools and instruments (up by USD 197 million); telephones, mobile phones and parts thereof (up by USD 145 million);…

7. On year-on-year basis, imports went down by 2.9%, to USD 139.21 billion. The decrease in imports was mainly contributed by the following products: machine, equipments, tools and instruments (down by 4,2% to USD 19.87 million), textiles and garments (down by 16% to USD 12.02 million),…

Preliminary assessment of Vietnam international merchandise trade performance in the first 7 months of 2020  	:  	EnglishNews  	: Vietnam Customs

Trading Partners

8. In the first 7 months of 2020, Vietnamese merchandise trade with trading partners in Asia was totaled USD 183.76 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 58.22 billion and increased by 10.3%. The values of other continents were Europe: USD 35.47 billion, down by 5.8%; Oceania: USD 5.47 billion, up by 8.2% and Africa: USD 3.76 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 7 months of 2020  	:  	EnglishNews  	: Vietnam Customs

9. For the first 7 months of 2020, 5 exporting markets of Vietnam with turnover of over USD 4 billion were: The United States of America (reached USD 39 billion, up by 18%); China (reached USD 23.1 billion, up by 17%); Japan (reached USD 10.8 billion, down by 5%) and Republic of Korea (reached USD 10.8 billion, up by 1%) and Hongkong (reached USD 5 billion, up by 34%) as compared to the same period of last year.

10. On import side, four partners exporting goods to Vietnam with turnover of over 4 billion were as follows: China (reached USD 42 billion, down by 0.8%)); Republic of Korea (reached USD 24.8 billion, down by 8.2%); Japan (reached USD 11.04 billion, up by 4%); Taiwan (reached USD 8.9 billion, up by 4.5%)…

Source: Vietnam Customs

www.customs.gov.vn