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What are notable points in import and export turnover in the second half of February 2019

10:20 | 16/03/2019

VCN- According to the latest preliminary statistics from the General Department of Vietnam Customs, Vietnam’s total value of imports and exports in the second half of February 2019 (from 16 to 28 February) reached VND 17.96 billion,  sharply  increasing by  69.8% (equivalent to an increase of US$ 7.38 billion) compared to the value in the first half of February due to the Lunar New Year holiday in this period.

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The export value increased by 2.3 times

The results achieved in the second half of February brought the total import and export value of the whole country in the first 2 months of 2019 to US$ 72.29 billion, increasing by 5%, equivalent to US$ 3.44 billion in absolute number compared to the same period of 2018.

In particular, the total value of imports and exports of FDI enterprises reached US$ 46.14 billion, increasing by 2.6% (equivalent to an increase of 1.17 billion USD); the import and export value of domestic enterprises was US$ 26.15 billion, increasing by 9.5% (equivalent to an increase of US$ 2.27 billion) over the same period in 2018.

what are notable points in import and export value in the second half of february 2019
The export value of the 10 largest commodity groups in February in 2019 compared to the same period in 2018. Chart: The General Department of Vietnam Customs.

In the second half of February, the balance of trade surplus was US$ 1.34 billion. However, Vietnam’s balance of trade deficit in the first two months of the year was US$ 64 million.

For exports, the total value of export goods in the second half reached US$ 9.65 billion, increasing by 2.3 times (equivalent to an increase of US$ 5.4 billion in absolute numbers) compared to the first half of this month.

The export value in the second half increased compared to the first half in some commodity groups such as: phones and accessories that increased by US$ 1.17 billion, equal to an increase of 102.7%; Textiles and garments increased by US$ 669 million, equaling an increase of 3.1 times; Computers, electronic products and components increased by US$ 527 million, equaling to an increase of 84.7%; Machinery, equipment, tools and spare parts increased by US$ 353 million, corresponding to an increase of 119.6%; Footwear of all kinds increased by 329 million USD, equal to an increase of 125.2%; Wood and wooden products increased by US$ 226 million, equivalent to an increase of 3.6 times; Fishery products increased by US$ 181 million, equaling to an increase of 2.9 times.

Until the end of February, Vietnam’s total export value reached US$ 36.11 billion, increasing by 4.2%, equaling US$ 1.46 billion compared to the same period in 2018.

According to the statistics from the General Department of Vietnam Customs, the export value of FDI enterprises in the second half of February reached US$ 6.93 billion, increasing by 2.2 times, equivalent to US$ 3.74 billion compared to the first half, thereby increasing the total export value of goods in 2 months to US$ 24.95 billion, up 1.7% (equivalent to an increase of US$ 411 million) over the same period last year, accounting for 69.1% of the total export value of the whole country.

Over 9,000 cars were imported in the second half

Total value of imported goods to Vietnam in the second half reached US$ 8.31 billion, up 31.3% (equivalent to an increase of US$ 1.98 billion in absolute numbers) compared to the first half.

what are notable points in import and export value in the second half of february 2019
The import value of the 10 largest commodity groups in February in 2019 compared to the same period in 2018. Chart: The General Department of Vietnam Customs.

In the second half of February, some commodity groups showed significant growth such as machinery, equipment, tools and spare parts increased by US$ 273 million, equal to an increase of 30%; Computers, electronic products and components increased by US$ 202 million, equivalent to an increase of 12.8%; Plastic materials increased by US$ 143 million, equaling to an increase of 69.3%; Common metals increased by US$ 98 million, equaling an increase of 70.7%; Animal feed and raw materials increased by US$ 91 million, equaling to an increase of 119.1% .

Particularly, the volume of imported cars in the second half of February was 9,231 cars, nearly doubling compared to the first half of the month.

Thus, until the end of February, the total import value of the whole country reached US$ 36.18 billion, up 5.8% (equivalent to an increase of US$ 1.97 billion) compared to the same period in 2018.

FDI enterprises in this period reached US$ 4.93 billion, up 25.1% (equivalent to an increase of US$ 988 million) compared to the first half of February, thereby bringing the total import value in the first 2 months to US$ 21.19 billion, an increase of 3.7% (equivalent to an increase of US$ 757 million) over the same period in 2018, accounting for 58.6% of the total import value of the whole country.

By Thai Binh/Ngoc Loan