Preliminary assessment of Vietnam international merchandise trade performance in the first month of 2021

Vietnam Customs Statistics  1/03/2021 3:00 PM

Highlights

1.  According to trade statistics of Vietnam Customs, in the first month of 2021, a 1.0% downward in total external merchandise turnover of Vietnam was recorded as compared to the result of December 2020. Exports went up 3.2 %, to USD 28.55 billion and imports shrunk 5.2%, to USD 26.46 billion in terms of month-on- month basis. As a result, there was a USD 2.09 billion surplus in Vietnam’s trade balance in this month.

In comparison with performance of January-2020, there was strong increase in total value of both merchandise exports and merchandise imports with the respective percentages: 55.1% and 41.3%.

2. Trade data disseminated recently by Vietnam Customs announced that the total value of exportation and importation by foreign direct invested (FDI) traders reached USD 39.16 billion in total for the first month of 2021, up by 1.8% on  month-on-month basis and up by 60.1 % on year-on-year basis. Total value of FDI exportation was USD 21.57 billion, increased by 5.5% on month-on-month basis and grew by 70% on a year-on-year basis. On import side, the total value of those companies was USD 17.59 billion, down by 2.5 on  month-on-month basis and up by 49.4% on a year-on-year basis.




 


Main Exports and Imports                        

3. The December of 2020 to January of 2021 increase in total merchandise exports was due to the upwards in telephones, mobile phones and parts thereof (down by USD 1.49 billion); foot-wears (up by USD 129 million); machine, equipments, tools and instruments (up by USD 103 million);...

 


On a year-on-year basis, exports was up USD 10.14 billion, to USD 28.55 billion. The main products, which contributed to the increase, were telephones, mobile phones and parts thereof (up by USD 3.4 billion); machine, equipments, tools and instruments (up by USD 1.77 billion); computers, electrical products, spare-parts and components thereof (up by USD 1.23 billion); …

4. Trade statistics of Vietnam Customs shows that 3 commodity groups, whose export value in January -2021 was over USD 3 billion, were: telephones, mobile phones and parts thereof; computers, electrical products, spare-parts and components thereof; machine, equipments, tools and instruments.

Telephones, mobile phones and parts thereof reached USD 6.1 billion in export value ; was up  by USD 1.49 billion on month-on-month basis and was up by  USD 3.4 billion on a year-on-year basis. The biggest trading partners of Vietnam importing this commodity were China (down by 27.8% on  month-on-month basis , to USD 1.48 billion); the United States (over 2 times higher on  month-on-month basis, to USD 1.18 billion) and Hong Kong (over 3 times higher on month-on-month basis, to USD 939 million).

Computers, electrical products, spare-parts and components thereof reached USD 3.89 billion in export value ; went down 9.6% on month-on-month basis and increased 46.2% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 59% on year-on-year basis, to USD 939 million); China (up by 20.2% on year-on-year basis, to USD 813 million); EU (27) (up by 60.6% on year-on-year basis, to USD 549 million); Hong Kong  (up by 141% on year-on-year basis, to USD 442 million)…     

Machine, equipments, tools and instruments reached USD 3.26 billion in export value ; went up by 3.3% on month-on-month basis and increased by 119% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 215% on year-on-year basis, to USD 1.58 billion); EU (27) (up by 91.8% on year-on-year basis, to USD 399 million); Republic of Korea (up by 58% on year-on-year basis, to USD 214 million);…

5.  The December of 2020 to January of 2021 decrease in total merchandise imports was due to the downwards of the commodities as follows: computers, electrical products, spare-parts and components thereof (down by USD 734 million); machine, equipments, tools and instruments (down by USD 210 million); crude oil (down by USD 183 million); parts and accessories of motor vehicles (down by USD 142 million);…  





On a year-on-year basis, imports went up USD 7.74 billion, to USD 26.46 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 1.43 billion); telephones, mobile phones and parts thereof (up by USD 1.15 billion); machine, equipments, tools and instruments (up by USD 1.11 billion);…

6. Trade statistics of Vietnam Customs shows that 3 commodity groups, whose import value in January -2021 was over USD 2 billion, were: computers, electrical products, spare-parts and components thereof; machine, equipments, tools and instruments; telephones, mobile phones and parts thereof.

Computers, electrical products, spare-parts and components thereof reached USD 5.66 billion in import value ; went down by 11.5% on month-on-month basis and increased by 33.7% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were Republic of Korea (up by 3% on year-on-year basis, to USD 1.6 billion); China (up by 84.2% on year-on-year basis, to USD 1.55 billion); Taiwan (China) (up by 79.3% on year-on-year basis, to USD 768 million);…

Machine, equipments, tools and instruments reached USD 3.91 billion in import value ; went down 5.1% on month-on-month basis and increased 39.6% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were the China (up by 55.2% on year-on-year basis, to USD 2.03 billion); Republic of Korea (up by 9.5% on year-on-year basis, to USD 596 million); Japan (up by 17.7% on year-on-year basis, to USD 359 million);…

Telephones, mobile phones and parts thereof reached USD 2.29 billion in import value ; was up by 10 % on month-on-month basis and was up by 101% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 116% on year-on-year basis, to USD 1.07 billion) and Republic of Korea (up by 67.7% on year-on-year basis, to USD 946 million)...

Trading Partners

7. In the first month of 2021, Vietnamese merchandise trade with trading partners in Asia was totaled USD 35.54 billion in value terms, which moved up 45.3% as compared to the same period of 2020. Trade-in-goods of Vietnam with America was followed, which reached USD 11.42 billion and increased by 58.8%. The values of other continents were Europe: USD 6.42 billion, up by 48.7%; Oceania: USD 1 billion, up by 26.4% and Africa: USD 621 million, up by 70% in comparison with the same period of 2020.

 



 

8. In January of 2021, 4 exporting markets of Vietnam with turnover of over USD 1 billion were: The United States of America (reached USD 8.2 billion); China (reached USD 4.6 billion); Republic of Korea (reached USD 1.8 billion) and Japan (reached USD 1.7 billion).





 

                                                                                   

9. On import side, five partners exporting goods to Vietnam with turnover of over 1 billion were as follows: China (reached USD 9.2 billion); Republic of Korea (reached USD 4.8 billion); Taiwan (reached USD 1.8 billion); Japan (reached USD 1.7 billion) and the United States of America (reached USD 1.1 billion).