Key import and export commodity groups decline

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	Vietnam has 22 export commodities worth "billion dollars" in the first half of 2020

Due to serious impact by the Covid-19 pandemic, import-export activities are fluctuating (increase / decrease) continuously and not really stable. Photo: T. Binh.

According to the latest General Department of Customs, the total value of Vietnam's imports and exports in the first period of August (from August 1-15) reached US$23.66 billion, down 7.2% (equivalent to a decrease of US$1.85 billion) compared to the results in the second half of July.

The results achieved in the first half of August brought the country’s total import and export value to the end of August 15 to US$310.41 billion, down 0.4%, equivalent to a year-on-year decrease of US$1.37 billion.

In the first period of August, merchandise trade balance was a surplus of US$ 1.69 billion, thereby bringing the cumulative trade surplus from the beginning of the year to US$ 10.08 billion.

Notably, in the first half of August, many key import and export commodity groups decreased compared to the second half of July.

The total value of Vietnam's exports in the first half of August reached US$12.68 billion, down 9%, equivalent to a decrease of US$1.25 billion compared to the second period of July.

The main groups with reduced fluctuations were: computers, electronic products and components decreased by US$438 million; textiles and garments US$255 million; machinery, equipment, tools and spare parts US$206 million; wood and wood products US$78 million; footwear US$68 million and seafood products US$65 million.

Thus, by the end of August 15, Vietnam’s total export value US$160.24 billion, up 1.8%, equivalent to an increase of US$2.78 billion over the same period in 2019.

Regarding imports, total value in the first half of August reached US$10.99 billion, down 5.2%, equivalent to a decrease of US$0.6 billion compared to the results in the second half of July.

The declined groups were: machinery, equipment, tools and spare parts decreased US$108 million; computers, electronic products and components US$83 million and fabrics US$76 million.

However, in the first half of August, several imported commodity groups still maintained good growth such as: mobile phones and accessories increased by US$106 million, respectively, up 16.2%; animal feed and raw materials increased US$ 66 million, respectively by 45.5%; CBU cars increased by US$ 39 million, equivalent to 68.6%.

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By the end of August 15, the country’s total import value reached US$150.16 billion, down 2.7%, corresponding to a decrease of US$4.15 billion over the same period last year.