Preliminary assessment of Vietnam international merchandise trade performance in the first 8 months of 2020

2. In the first 8 months of 2020, Vietnam‘s trade-in-goods totaled USD 337.23 billion in value terms, equivalent to the corresponding period of last year. As compared to result of a year earlier, total merchandise exports value increased 2.3% to USD 175.36 billion and the total merchandise imports value down 2.4% to USD 161.87 billion. Accordingly, Vietnam’s trade balance in 8 months of 2020 was in the surplus of USD 13.49 billion.

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 202.79 billion in total for the first 8 months of 2020, down by 4.8 % on year-on-year basis. Total value of FDI exportation was USD 112.67 billion, decreased by 3.9%. On import side, the total value of those companies was USD 90.12 billion, down by 6%.

Source: Vietnam Customs

Main Exports and Imports

4. The July of 2020 to August of 2020 increased in total merchandise exports was due to the upwards in mobile phones and parts thereof (up by 24.8%, equivalent to USD 1.06 billion); precious stone,.. (up by 124.9%, USD 519 million in value term); Machine, equipment, tools and instruments (up by 17.6%, equivalent to USD 403 million)...

5.The increase of Vietnam‘s total merchandise exports in the first 8 months of 2020 was due to the upwards in computers, electrical products, spare-parts and components thereof (up by USD 5.6 billion); Machine, equipment, tools and instruments (up by USD 3.99 billion); …

6. The July of 2020 to August of 2020 increase in total merchandise imports was due to the upwards in computers, electrical products, spare-parts and components thereof (up by USD 428 billion); telephones, mobile phones and parts thereof (up by USD 433 million);…

7. On year-on-year basis, imports went down by 2.4%, to USD 161.87 billion. The decrease in imports was mainly contributed by the following products: petroleum products (down by 40.2% - USD 1.59 million equally), motor vehicles (down by 43% - USD 923 million),…

Trading Partners

8. In the first 8 months of 2020, Vietnamese merchandise trade with trading partners in Asia was totaled USD 215.58 billion in value terms, which moved down 2% as compared to the same period of 2019. Trade-in-goods of Vietnam with America reached USD 69.51 billion and increased by 11.9%. The values of other continents were Europe: USD 41.36 billion, down by 5.7%; Oceania: USD 6.3 billion, down by 0.8% and Africa: USD 4.47 billion, down by 6% in comparison with the same period of last year.

9. For the first 8 months of 2020, 5 exporting markets of Vietnam with turnover of over USD 4 billion were: The United States of America (reached USD 54.7 billion, up by 22.6%); China (reached USD 32.5 billion, up by 14.98%); Republic of Korea (reached USD 14.5 billion, down by 2.1%); Japan (reached USD 14 billion, down by 6.4%) and Hongkong (reached USD 7.5 billion, up by 45%) as compared to the same period of last year.

10. On import side, four partners exporting goods to Vietnam with turnover of over 4 billion were as follows: China (reached USD 57.6 billion, up by 4%)); Republic of Korea (reached USD 33 billion, down by 6.5%); Japan (reached USD 14.6 billion, up by 3.1%); Taiwan (reached USD 12 billion, up by 7.1%)…