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Preliminary assessment of Vietnam international merchandise trade performance in December and the whole year 2016

Vietnam Customs Statistics  6/02/2017 9:00 AM

Highlights

1.  According to trade statistics of Vietnam Customs, in December of 2016, there was a 3.5% increase in total external merchandise turnover of Vietnam as compared to the result of November 2016. In which, exports went up 2.8 %, to US dollars 16.58 billion and imports expanded 4.3%, to US dollars 17.08 billion. As a result, there was a US dollars 494 million deficit in Vietnam’s trade balance in this month.
2. From the beginning to December 2016, Vietnam‘s trade-in-goods reached US dollars 350.74 billion in total value, 7.1% above the corresponding period of 2015. As compared to result of the January- December period of 2015, total merchandise exports value was up 9.0% to US dollars 176.63 billion and the total merchandise imports value increased 5.2% to US dollars 174.11 billion. Accordingly, Vietnam’s trade balance in the whole year 2016 was in the surplus of US dollars 2.52 billion.
3. Trade data disseminated recently by Vietnam Customs reported that the total value of exportation and importation by foreign direct invested (FDI) traders totaled US dollars 226.21  billion in total in the whole year 2016, up by 8.9% as compared to the result of corresponding period of 2015. Total value of FDI exportation was US dollars 123.92 billion, went up by 12.1%. On import side, the total value of those companies was US dollars 102.29 billion, went up by 5.2%.
 

Main Exports and Imports                       
4. The November of 2016 to December of 2016 expansion in total merchandise exports was due to the upturns in textiles and garments (up by US dollars 400 million); foot-wears (up by US dollars 118 million); machine, wood and wooden products (up by US dollars 115 million)...


 
5. In 2016, there were 26 main exports reaching above US dollars 1 billion in value terms. Total value of these commodities was US dollars 161.92 billion and accounted for 91.7% total exports value of Vietnam. Moreover, the exported items whose value reached US dollars 10 million were as follows: telephones, mobile phones and parts thereof (US dollars 34.32 billion); textiles and garments (US dollars 23.84 billion); computers, electrical products, spare-parts and components thereof (US dollars 18.96 billion); foot wears (US dollars 13 billion) and machine, equipment, tools and instruments (US dollars 10.14 billion).  
6. The November of 2016 to December of 2016 increase in total merchandise imports was due to the upturns in machine, equipment, tools and instruments (up by US dollars 331 million); petroleum products (up by US dollars 177 million);...


7. From the beginning to December of 2016, there were 30 main exports reaching above US dollars 1 billion in value terms. Total value of these commodities was US dollars 151.10 billion and accounted for 86.8% total imports value of Vietnam. Moreover, the exported items whose value reached US dollars 10 million were as follows: machine, equipment, tools and instruments (US dollars 28.37 billion); computers, electrical products, spare-parts and components thereof (US dollars 27.87 billion); textile, leather and foot wear materials and auxiliaries group (US dollars 18.80 billion); telephones, mobile phones and parts thereof (US dollars 10.56 billion).
Trading Partners
8. In Jan-December period, Vietnamese merchandise trade with trading partners in Asia was totaled US dollars 226.05 billion in value terms, which moved up 5.2% as compared to the same period of 2015. Trade-in-goods of Vietnam with America was followed, which reached US dollars 61.88 billion and increased by 11.7%. The values of other continents were Europe: US dollars 51.27 billion, up by 10.3%;  Oceania: US dollars 6.21 billion, up by 7.3% and Africa: US dollars 5.34 billion, up by 4.5% in comparison with the same period of prior year.



 
9.  In 2016, there were 28 exporting trading partners and 21 importing trading partners of Vietnam reaching over US dollars 1 billion in value terms. There were also 57% of 131 exporting trading partners and over 70% of importing trading partners having positive growth.

 

10. Regarding the following Chart, the United States of America was the biggest destination of Vietnamese products with the total value of US dollars 38.5 billion in the whole year 2016; China was the second biggest one; and then Japan, Republic of Korea, Hong Kong…
 

                                                                                   
11. On import side, China was the biggest partner exporting goods to Vietnam with the value of US dollars 50.0 billion from the beginning to December of 2016, and then: Republic of Korea, Japan, Taiwan, Thailand, United States of America, Malaysia, Singapore..

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