September 26, 2018 17:17

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Preliminary assessment of Vietnam international merchandise trade performance in the second half of May, 2018

06:04 | 24/08/2018

​The Vietnam Customs Statistics reported that in the second half of May-2018, the total value of  Vietnam’s exports of  US dollars 11.11 billion and imports of US dollars 10.63 billion resulted in a trade surplus of US dollars 478 million. Accordingly, the total value of export and import turnover of Vietnam in the second half of  May was US dollars 21.74 billion, up by 14,9% as compared to the first half of May-2018 (equivalent to USD 2.81 billion). 

Vietnam‘s trade-in-goods in the first 5 months of 2018 totaled US dollars 185.84 billion in value terms which expanded by 13.8% as compared to the performance of same period last year. In which, the total merchandise exports valued US dollars 94.33 billion, moved up by 17.3% and the total merchandise imports valued US dollars 91.52 billion, went up by 10.4%. Therefore, Vietnam was in trade surplus of over USD 2.81 billion in that period.

In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation in the second half of May reached USD 13.68 billion. From January to May 31st of 2018, the total export value of FDI traders went up 17% to US dollar 66.34 billion, which accounted for 70% of Vietnam’s total exports. In the meanwhile, import value was posted at USD 53.81 billion, up by 8.6% and accounted for 58.7%

Export:

As compared to the first half of May-2018, second half of the month increase in the total export value (8.6% - USD 1.58 billion equally) is reflected by upturn in coal (up by 96.1% - USD 18,9 million equally); still image, video cameras and part thereof (up by 73.4% - USD 167 million equally); crude oil (up by 56.8% - USD 73 million equally); fabrics (up by 40.6% - USD 44 million equally)…

It was also showed by Vietnam Customs Statistics that export value of some commodities shrunk in the second half of May, which included: petroleum products (down by 19.2% - USD 25 million equally); ores and other mineral products (down by 18.5% - USD 4 million equally); pepper (down by 12.2% - USD 10 million equally)…

Chart 1: M​ain exported commodities of Vietnam in the first 5 months of 2018 as compared to the same period of 2017

tin nhap 20180823160108

Import

The first half to second half of May slightly increase in the total of import value (21.1%) reflected upturn in: cashew nuts (up by 120.1% - USD 135 million equally); fertilizer (up by 77.3% - USD 112 million equally); ores and other minerals (up by 64.2% - USD 46 million equally); motorcycles and parts, accessories thereof (up by USD 47.4% - USD 19 million equally); precious stones, precious metal and articles thereof (up by 47.5%- USD 21 million equally)…

Shrunk occurred in importation of some commodities such as: parts and accessories of motor vehicles (down by 18.2% - USD 43 million equally); telephone, mobile phones and part thereof (down by 15.9% - USD 153 million)…

Chart 2: Main imported commodities of Vietnam in the first 5 months of 2018 as compared to the same period of 2017

tin nhap 20180823160108

Source: Vietnam Customs