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Preliminary assessment of Vietnam international merchandise trade performance in the second half of August, 2020

Review | 10/10/2020, 03:04 AM

​The Vietnam Customs Statistics announced that in the second half of August, 2020 the total Vietnam’s exports of US dollars 14.99 billion .....

The Vietnam Customs Statistics announced that in the second half of August, 2020 the total Vietnam’s exports of US dollars 14.99 billion and imports of nearly US dollars 11.66 billion resulted in a trade surplus of US dollars 3.33 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of August was over US dollars 26.65 billion, up by 12.6% as compared to the first half of August-2020.  Furthermore, in the first 8 months of 2020, Vietnam was in trade surplus of USD 13.49 billion.

Vietnam‘s trade-in-goods in the first 8 months of 2020 totaled US dollars 337.23 billion in value terms.

In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation in the first 8 months of 2020 reached USD 202.79 billion, down by 4.8% in comparison to the same period of 2019.

Export:

As compared to the first half of August-2020, second half of the month increase in the total export value (18.3% - USD 2.31 billion equally) is reflected by upturn in telephones, mobile phones and part thereof (up by 6.7% - USD 172 million equally); computer, electrical products (up by 19.1% - USD 366 million equally); machine, tools and equipments (up by 38.2% - USD 427 million equally); textile and garments (up by 17.3% - USD 235 million); iron and steel (up by 59.3% - USD 132 million)…

Totally, in the first 8 months of 2020 total export value from Vietnam was USD 175.36 billion, slightly up by 2.3% as compared to the same period of 2019 (equivalent to USD 4.01 billion in absolute value terms).

Chart 1: Top 10 main exported commodities of Vietnam in the second half of August as compared to the first half of August

Source: Vietnam Customs

Import:

The first half to second half of August widen in the total of import value (6.1%) reflected upturn in computer, electrical products (up by 7% - USD 203 million equally); crude oil (up by 107.9% - USD 94.6 million equally); telephones mobile phone (up by 12.2% - USD 92.7 million equally)…

From January to second half of August-2020, total import value into Vietnam was USD 161.87 billion, went down by 2.4%  as compared to the same period of 2019 (equivalent to USD 4.01 billion in absolute value terms).

Chart 2: Top 10 main imported commodities of Vietnam in the second half of August as compared to the first half of August

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