Four export groups decreased by "hundreds of millions of USD" in first half of May

VCN- The latest preliminary statistics of the General Department of Customs show that the total value of Vietnam's exports and imports in May (from May 1-15) reached US$17.39 billion, down 4.7% (equivalent to US$856 million) compared to the second half of April 2020. Of which, there are many export commodity groups whose turnover dropped by a hundred million USD.
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four export groups decreased by hundreds of millions of usd in first half of may
Many key export commodity groups struggled in the first half of May. Chart: T. Binh.

Particularly, in the first half of May, many key export groups such as phones, machinery and equipment dropped sharply.

Specifically, compared to the second half of April 2020, exports of all kinds of phones and components decreased by US$207 million, equivalent to 16.9%; machinery, equipment, tools and spare parts decreased by US$128 million, equivalent to 14.5%; iron and steel of all kinds decreased by US$114 million, equivalent to a decrease of 60.9%; computers, electronic products and components decreased by US$111 million, equivalent to a 7% reduction.

Therefore, in May, the total export turnover was onlyUS$8.22 billion, down 11.1% (equivalent to US$1.03 billion) compared to the last 15 days of April 2020. Accumulated to the end of May 15, the total export value of the whole country reached US$89.02 billion, a slight increase of 0.1% (equivalent to US$72 million) compared to the same period in 2019.

Imports also increased slightly by 1.9% (equivalent to US$172 million) with a total value of only US$9.18 billion. Thereby raising the turnover from the beginning of the year to US$87.59 billion, down 2.6% (equivalent to US$2.3 billion) over the same period in 2019.

Thus, from the beginning of the year to the end of May 15, the total import-export value reached US$176.61 billion, down 1.3% (equivalent to US$2.25 billion) over the same period in 2019.

In the first period of May, Vietnam has a trade deficit of US$957 million; however, from the beginning of the year to May 15, Vietnam still had a trade surplus of US$1.43 billion.

In the first 15 days of May, FDI enterprises had import and export value of US$9.86 billion, down 6.9%, equivalent to US$726 million,compared to the second half of April 2020.

Accumulated from the beginning of the year to the end of May 15, FDI enterprises had a import and export value of US$108.54 billion, down 4%, equivalent to US$4.52 billioncompared to the same period in 2019.

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The trade balance of FDI enterprises had a surplus of US$163 million in the first half of May and US$8.57 billion from the beginning of the year.

By Thai Binh/ Phuong Thao

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