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Preliminary assessment of Vietnam international merchandise trade performance in the first 7 months of 2019

Vietnam Customs Statistics  26/09/2019 2:00 PM

Highlights

1.  According to trade statistics of Vietnam Customs, in July 2019, a 12.2% upturns in total external merchandise turnover of Vietnam was recorded on a month-on-month basis. Exports went up 7.2 %, to USD 22.98 billion and imports increased 17.7%, to USD 22.94 billion as compared to the result of June 2019. As a result, there was a USD 43 million surplus in Vietnam’s trade balance in this month.

2. In the first 7 months of 2019, Vietnam‘s trade-in-goods totaled US dollars 289.26 billion in value terms, 8.2% above the corresponding period of last year. As compared to result of a year earlier, total merchandise exports value rose 7.8%, to US dollars 145.48 billion and the total merchandise imports value grew up 8.6% to US dollars 143.78 billion. Accordingly, Vietnam’s trade balance in this period was in the surplus of US dollars 1.70 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 182.19 billion in total from beginning to July 2019, up by  5.4% as compared to the result of corresponding period of 2018. Total value of FDI exportation was USD 99.54 billion, went up by 5.4%. On import side, the total value of those companies was USD 82.65 billion, went up by 5.5%.



Main Exports and Imports                        

4. On a month-on-month basis, an increase in total merchandise exports was due to the upturns in textiles and garments (up by USD 417 million); telephones, mobile phones and parts thereof (up by USD 213 million); precious stones, precious metal and articles thereof (up by USD 172 million); …



5. On a year-on-year basis, exports grew up USD 10.48 billion. The main products, which contributed to the increase, were computers, electrical products and parts thereof (up by USD 2.36 billion); textiles and garments (up by USD 1.80 billion); foot-wears (up by USD 1.19 billion); …

6. On a month-on-month basis, expansion in total merchandise imports was due to the upturns of the commodities as follows: computers, electrical products, spare-parts and components thereof (up by USD 893 million); telephones, mobile phones and parts thereof (up by USD 472 million); machine, equipment, tools and instruments (up by USD 363 million); …


7. On a year-on-year basis, imports went up USD 11.39 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 4.91 billion); machine, equipment, tools and instruments (up by USD 2.32 billion); motor vehicles (up by USD 1.47 billion); … 

Trading Partners

8. In the first 7 months of 2019, Vietnamese merchandise trade with trading partners in Asia was totaled USD 189.22 billion in value terms, which moved up 6.8% as compared to the same period of 2018. Trade-in-goods of Vietnam with America was followed, which reached USD 52.68 billion and increased by 19.5%. The values of other continents were Europe: USD 37.82 billion, up by 3.0%; Oceania: USD 5.47 billion, up by 7.0% and Africa: USD 4.07 billion, down by 4.8% in comparison with the same period of last year.

 

9. For January-July period of 2019, 4 importing markets of Vietnam with turnover of over USD 10 billion were: The United States of America (reached USD 33.0 billion); China (reached USD 19.8 billion); Japan (reached USD 11.4 billion); Republic of Korea (reached USD 10.8 billion).

 

                                                                                

10. According to the following chart, top 3 big sources of Vietnam’s imports were as follows: China (reached USD 42.4 billion); Republic of Korea (reached USD 26.8 billion); Japan (reached USD 10.6 billion).  


 

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