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Preliminary assessment of Vietnam international merchandise trade performance in the first 5 months of 2021

Vietnam Customs Statistics   8/07/2021 10:00 AM

Highlights

1. According to trade statistics of Vietnam Customs, in May 2021, a 0.2% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of April 2021. Exports went down 1.3 %, to USD 26.19 billion and imports increased 1.8%, to USD 28.27 billion in terms of month-on- month basis. As a result, there was a USD 2.07 billion deficit in Vietnam’s trade balance in this month.

2. In the first 5 months of 2021, Vietnam‘s trade-in-goods totaled US dollars 262.73 billion in value terms, 33.7% above the corresponding period of last year. As compared to result of a year earlier, total merchandise exports value rose 30.9%, to US dollars 131.13 billion and the total merchandise imports value increased 36.7% to US dollars 131.6 billion. Accordingly, Vietnam’s trade balance for January-May period of 2021 was in the deficit of US dollars 473 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 36.86 billion in total for May of 2021, down by 1.2 % on month-on-month basis. FDI’s export value of USD 18.85 billion and FDI’s import value of USD 18 billion led to a trade surplus of USD 845 million.

For January-May period of 2021, trade-in-goods by FDI traders totaled US dollars 182.81 billion, up by 38.2 % on year-on-year basis. Total value of FDI exportation was USD 97.2 billion, increased by 36.7%. On import side, the total value of those companies was USD 85.61 billion, up by 40%. As a result, FDI’s trade balance was in surplus of USD 11.6 billion.



Main Exports and Imports                        

4. The  April of 2021 to May of 2021 decrease in total merchandise exports was due to the downwards in machine, equipments, tools and instruments (down by USD 513 million); telephones, mobile phones and parts thereof (down by USD 228 million); rice (down by USD 85 million);...




On a year-on-year basis, exports was up USD 30.96 billion, to USD 131.13 billion. The main products, which contributed to the increase, were machine, equipments, tools and instruments (up by USD 6.22 billion); computers, electrical products, spare-parts and components thereof (up by USD 4.22 billion); telephones, mobile phones and parts thereof (up by USD 3.46 billion);…

5. Trade statistics of Vietnam Customs shows that 4 biggest commodity groups in the first 5 months of 2021 were: telephones, mobile phones and parts thereof; computers, electrical products, spare-parts and components thereof; machine, equipments, tools and instruments; textiles and garments.

Telephones, mobile phones and parts thereof reached USD 21.77 billion in export value and was up by USD 18.9% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were China (up by 50.5% on year-on-year basis, to USD 4.84 billion); the United States (up by 9.3% on year-on-year basis, to USD 3.71 billion) and EU (27) (down by 11.4% on year-on-year basis, to USD 3.52 billion).

Computers, electrical products, spare-parts and components thereof reached USD 19.73 billion in export value; went up 27.2% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 40.1% on year-on-year basis, to USD 4.88 billion); China (down by 6.2% on year-on-year basis, to USD 4.03 billion); EU (27) (up by 42.7% on year-on-year basis, to USD 2.84 billion);…     

Machine, equipments, tools and instruments reached USD 14.72 billion in export value; went up by 73.1% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 130% on year-on-year basis, to USD 6.75 billion); EU (27) (up by 67.7% on year-on-year basis, to USD 2.23 billion); Japan (up by 33.3% on year-on-year basis, to USD 1.08 billion);…

Textiles and garments  reached USD 12.23 billion in export value ; went up by 15.2% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 24.4% on year-on-year basis, to USD 6.02 billion); Japan (down by 6.3% on year-on-year basis, to USD 1.31 billion); EU (27) (up by 14.7% on year-on-year basis, to USD 1.21 billion);…

6.  The  April of 2021 to May of 2021 increase in total merchandise imports was due to the upwards of the commodities as follows: machine, equipments, tools and instruments (up by USD 233 million); corn (up by USD 95 million);…



 On a year-on-year basis, imports went up USD 35.3 billion, to USD 131.6 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 5.83 billion); machine, equipments, tools and instruments (up by USD 5.19 billion); telephones, mobile phones and parts thereof (up by USD 2.64 billion); …

7. Trade statistics of Vietnam Customs shows that 4 biggest commodity groups in the first 5 months of 2021 were: computers, electrical products, spare-parts and components thereof; machine, equipments, tools and instruments; textile, leather and foot- wears materials and auxiliaries group; telephones, mobile phones and parts thereof.

Computers, electrical products, spare-parts and components thereof reached USD 27.83 billion in import value ; went up by 26.5% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 54.6% on year-on-year basis, to USD 8 billion); Republic of Korea  (up by 11% on year-on-year basis, to USD 7.3 billion);…

Machine, equipments, tools and instruments reached USD 18.91 billion in import value; went up 37.8% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were the China (up by 72.9% on year-on-year basis, to USD 9.73 billion); Republic of Korea (up by 19.7% on year-on-year basis, to USD 2.85 billion); Japan (down by 0.8% on year-on-year basis, to USD 1.83 billion);…

Textile, leather and foot- wears materials and auxiliaries group reached USD 11.05 billion in import value ; was up by 29.6% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 42% on year-on-year basis, to USD 5.6 billion) ; Taiwan (China) (up by 25% on year-on-year basis, to USD 1.08 billion); Republic of Korea (up by 14% on year-on-year basis, to USD 1.06 billion); …

Telephones, mobile phones and parts thereof reached USD 7.57 billion in import value ; was up by 53.6% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 51.6% on year-on-year basis, to USD 3.67 billion) and Republic of Korea (up by 48.1% on year-on-year basis, to USD 3.21 billion)...

Trading Partners

8. In the first 5 months of 2021, Vietnamese merchandise trade with trading partners in Asia was totaled USD 170.17 billion in value terms, which moved up 33.4% as compared to the same period of 2020. Trade-in-goods of Vietnam with America was followed, which reached USD 54.62 billion and increased by 42.3%. The values of other continents were Europe: USD 29.47 billion, up by 21.5%; Oceania: USD 5.43 billion, up by 38.9% and Africa: USD 3.1 billion, up by 31.2% in comparison with the same period of 2020.





9. For Jan-May period of 2021, 4 exporting markets of Vietnam with turnover of over USD 8 billion were: The United States of America (reached USD 37.44 billion); China (reached USD 20.24 billion); Republic of Korea (reached USD 8.75 billion) and Japan (reached USD 8.27 billion).   





10. On import side, four partners exporting goods to Vietnam with turnover of over 8 billion were as follows: China (reached USD 43.76 billion); Republic of Korea (reached USD 20.97 billion); Japan (reached USD 8.84 billion); Taiwan (reached USD 8.46 billion).




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