Vietnam Customs Statistics shows that the total value of merchandise trade between Vietnam and Switzerland in 2011 was USD 2.96 billion, decreased by 19% as compared to the performance of 2010. In which, total value of importation was USD 1.78 billion, rose by 75.9% and total value of exportation was USD 1.12 billion, down strongly by 55% and Vietnam trade balance was in the deficit of USD 582 million.
Chart 1: Merchandise trade value between Vietnam and Switzerland from 2007 to 2011 and first 5 months 2012
Source: Vietnam Customs
The latest Vietnam Customs Statistics shows that the total value of exports and imports between Vietnam and Switzerland in the first 5 months of 2012 was USD 288 million, of which, export was down slightly by 6% and fell to USD 175 million and import was USD 113 million, decreased dramatically by 64% as compared to the same period of 2011.
Trade balance between Vietnam and Switzerland was not stable during the last 5 years. In 2007 and 2008, Vietnam posted a big trade deficit with Switzerland, total value of goods exported to Switzerland was far smaller than that Vietnam imported from this country. However, trade balance of Vietnam with Switzerland turned to big surplus in 2009 and 2010 and then kept deficit in 2011 and first 5 months of 2012.
Table 1: Percentage and ranks of imports, exports between Vietnam and Switzerland from 2007 to 2011 and the first 5 months of 2012
|
Year
|
2007 |
2008 |
2009 |
2010 |
2011 |
5M/2012 |
|
EX |
IM |
EX |
IM |
EX |
IM |
EX |
IM |
EX |
IM |
EX |
IM |
|
Share in total value of Vietnam (%) |
0.38 |
1.62 |
0.64 |
2.34 |
3.55 |
0.53 |
3.13 |
1.19 |
1.11 |
1.66 |
0.40 |
0.26 |
|
Ranks among Vietnam’s trading partners |
25 |
15 |
23 |
11 |
4 |
22 |
6 |
13 |
24 |
13 |
33 |
35 |
Notes: EX for export and IM for import
Source: Vietnam Customs
From January to May of 2012, Switzerland was ranked as 33th of all over exporting markets of Vietnam and accounted for 0.4% of the total export value of Vietnam. Mains exports of Vietnam’s companies to this market can be seen as: coffee, precious stones, precious metal, and articles thereof; telephones, mobile phones and parts thereof; fishery products…
Chart 2: Main exports of Vietnam to Switzerland
in the first 5 months of 2011 and 2012
Source: Vietnam Customs
By the import side, Switzerland was ranked at 35th for exporter amongst all exporters of goods to Vietnam in the first 5 months an d accounted slightly for 0.26% of the total value of imported goods into Vietnam. Main imports into Vietnam originating from Switzerland in the last 5 months were namely: machine, equipment, tools, & instruments; pharmaceutical products; computers, electrical products, spare- parts and componets there of; insecticides, rodenticides and materials
Table 2: Main imports of Vietnam from Switzerland
in the first 5 months of 2011 and 2012
|
Main imports |
5 months 2011
(Mil. USD) |
5 months 2012
(Mil. USD) |
|
Machine, equipment,tools, & instruments |
54.44 |
42.82 |
|
Pharmaceutical products |
25.19 |
19.06 |
|
Computers, electrical products, spare- parts and componets there of |
6.26 |
9.01 |
|
Insecticides, rodenticides and materials |
4.67 |
4.61 |
|
Chemical products |
2.91 |
3.08 |
|
Iron and steel products |
1.18 |
2.65 |
|
Milk milk products |
0.12 |
2.46 |
|
Plastic products |
2.26 |
2.18 |
|
Fabrics |
0.39 |
2.03 |
|
Insulated wires and cables |
0.69 |
2.01 |
|
Precious stones, precious metal, and articles thereof |
191.35 |
1.47 |
|
Others |
22.72 |
21.19 |
|
Total |
312 |
113 |
Source: Vietnam Customs