September 22, 2019 06:49

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Preliminary assessment of Vietnam international merchandise trade performance in the first half of 2019

19:53 | 03/09/2019

Highlights 1.  According to trade statistics of Vietnam Customs, in June 2019, a 9.3% downturns in total external merchandise turnover of Vietnam was recorded on a month-on-month basis. Exports went down 2.2 %, to USD 21.43 billion and imports decreased 15.9%, to USD 19.49 billion as compared to the result of May 2019. As a result, there was a USD 1.93 billion surplus in Vietnam’s trade balance in this month.  

​2. In the first half of 2019, Vietnam‘s trade-in-goods totaled US dollars 243.48 billion in value terms, 8.0% above the corresponding period of last year. As compared to result of a year earlier, total merchandise exports value rose 7.2%, to US dollars 122.53 billion and the total merchandise imports value grew up 8.9% to US dollars 120.94 billion. Accordingly, Vietnam’s trade balance in this period was in the surplus of US dollars 1.59 million.

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 153.87 billion in total from beginning to June 2019, up by 6.0% as compared to the result of corresponding period of 2018. Total value of FDI exportation was USD 84.45 billion, went up by 5.5%. On import side, the total value of those companies was USD 69.41 billion, went up by 6.5%.

preliminary assessment of vietnam international merchandise trade performance in the first half of 2019

Main Exports and Imports

4. On a month-on-month basis, an increase in total merchandise exports was due to the upturns in precious stones, precious metal and articles thereof (up by USD 252 million); textiles and garments (up by USD 147 million); telephones, mobile phones and parts thereof (up by USD 66 million); …

preliminary assessment of vietnam international merchandise trade performance in the first half of 2019

5. On a year-on-year basis, exports expanded USD 8.21 billion. The main products, which contributed to the increase, were computers, electrical products and parts thereof (up by USD 1.92 billion); textiles and garments (up by USD 1.41 billion); foot-wears (up by USD 1.03 billion); …

6.On a month-on-month basis, shrunk in total merchandise imports was due to the downturns of the commodities as follows: computers, electrical products, spare-parts and components thereof (down by USD 510 million); machine, equipment, tools and instruments (down by USD 456 million); iron and steel (down by USD 256 million); …

preliminary assessment of vietnam international merchandise trade performance in the first half of 2019

7 . On a year-on-year basis, imports went up USD 9.88 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 3.80 billion); machine, equipment, tools and instruments (up by USD 2.06 billion); crude oil (up by USD 1.48 billion);

Trading Partners

8. In the first half of 2019, Vietnamese merchandise trade with trading partners in Asia was totaled USD 159.69 billion in value terms, which moved up 6.5% as compared to the same period of 2018. Trade-in-goods of Vietnam with America was followed, which reached USD 44.01 billion and increased by 20.7%. The values of other continents were Europe: USD 31.75 billion, up by 1.7%; Oceania: USD 4.66 billion, up by 7.7% and Africa: USD 3.31 billion, down by 2.4% in comparison with the same period of last year.

preliminary assessment of vietnam international merchandise trade performance in the first half of 2019

9. For January-June period of 2019, 4 importing markets of Vietnam with turnover of over USD 9 billion were: The United States of America (reached USD 27.5 billion); China (reached USD 16.6 billion); Japan (reached USD 9.7 billion); Republic of Korea (reached USD 9.1 billion).

preliminary assessment of vietnam international merchandise trade performance in the first half of 2019

10. According to the following chart, top 3 big sources of Vietnam’s imports were as follows: China (reached USD 35.7 billion); Republic of Korea (reached USD 22.5 billion); Japan (reached USD 8.8 billion).

preliminary assessment of vietnam international merchandise trade performance in the first half of 2019

Source: Vietnam Customs