Preliminary assessment of Vietnam international merchandise trade performance in the first half of 2021

2. In the first half of 2021, Vietnam‘s trade-in-goods totaled US dollars 317.66 billion in value terms, 32.5% above the corresponding period of last year. As compared to result of a year earlier, total merchandise exports value rose 29%, to US dollars 158.34 billion and the total merchandise imports value increased 36.3% to US dollars 159.33 billion. Accordingly, Vietnam’s trade balance for January-June period of 2021 was in the deficit of US dollars 993 million.

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 37.02 billion in total for June of 2021, up by 0.4 % on month-on-month basis. FDI’s export value of USD 19.34 billion and FDI’s import value of USD 17.69 billion led to a trade surplus of USD 1.65 billion.

For January-June period of 2021, trade-in-goods by FDI traders totaled US dollars 219.87 billion, up by 36.6 % on year-on-year basis. Total value of FDI exportation was USD 116.55 billion, increased by 34%. On import side, the total value of those companies was USD 103.32 billion, up by 39.7%. As a result, FDI’s trade balance was in surplus of USD 13.23 billion.

Main Exports and Imports

3. The May of 2021 to June of 2021 increase in total merchandise exports was due to the upwards in textiles and garments (up by USD 491 million); telephones, mobile phones and parts thereof (up by USD 265 million);wood and wooden products (up by USD 144 million); rubber (up by USD 132 million);...

On a year-on-year basis, exports was up USD 35.57 billion, to USD 158.34 billion. The main products, which contributed to the increase, were machine, equipments, tools and instruments (up by USD 6.68 billion); computers, electrical products, spare-parts and components thereof (up by USD 4.43 billion); telephones, mobile phones and parts thereof (up by USD 3.1 billion);…

4. Trade statistics of Vietnam Customs shows that 4 biggest commodity groups in the first half of 2021 were: telephones, mobile phones and parts thereof; computers, electrical products, spare-parts and components thereof; machine, equipments, tools and instruments; textiles and garments.

Telephones, mobile phones and parts thereof reached USD 25.05 billion in export value and was up by USD 14.1% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were China (up by 48.4% on year-on-year basis, to USD 5.53 billion); the United States (up by 8.4% on year-on-year basis, to USD 4.3 billion) and EU (27) (down by 15.7% on year-on-year basis, to USD 4.14 billion).

Computers, electrical products, spare-parts and components thereof reached USD 23.87 billion in export value; went up 22.8% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 31.5% on year-on-year basis, to USD 5.76 billion); China (down by 3.3% on year-on-year basis, to USD 5.22 billion); EU (27) (up by 29.6% on year-on-year basis, to USD 3.31 billion);…

Machine, equipments, tools and instruments reached USD 11.1 billion in export value; went up by 64.1% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 105.2% on year-on-year basis, to USD 7.73 billion); EU (27) (up by 59.7% on year-on-year basis, to USD 2.51 billion); Japan (up by 34.3% on year-on-year basis, to USD 1.3 billion);…

Textiles and garments reached USD 15.31 billion in export value ; went up by 15.5% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 23.1% on year-on-year basis, to USD 7.61 billion); EU (27) (up by 14% on year-on-year basis, to USD 1.82 billion); Japan (down by 4.5% on year-on-year basis, to USD 1.57 billion); Republic of Korea (up by 2.8% on year-on-year basis, to USD 1.24 billion);…

5. The May of 2021 to June of 2021 decrease in total merchandise imports was due to the downwards of the commodities as follows: machine, equipments, tools and instruments (down by USD 118 million); petroleum products (down by USD 77 million);…

On a year-on-year basis, imports went up USD 42.43 billion, to USD 159.33 billion. The growth in imports was mainly contributed by the upturns of the following products: computers, electrical products, spare-parts and components thereof (up by USD 6.43 billion); machine, equipments, tools and instruments (up by USD 6.23 billion); telephones, mobile phones and parts thereof (up by USD 3.05 billion); …

6. Trade statistics of Vietnam Customs shows that 3 biggest commodity groups in the first half of 2021 were: computers, electrical products, spare-parts and components thereof; machine, equipments, tools and instruments; textile, leather and foot- wears materials and auxiliaries group.

Computers, electrical products, spare-parts and components thereof reached USD 33.56 billion in import value ; went up by 23.7% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 45% on year-on-year basis, to USD 9.5 billion); Republic of Korea (up by 12% on year-on-year basis, to USD 8.8 billion);…

Machine, equipments, tools and instruments reached USD 22.9 billion in import value; went up 37.4% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were the China (up by 73% on year-on-year basis, to USD 11.9 billion); Republic of Korea (up by 14% on year-on-year basis, to USD 3.4 billion); Japan (up by 1.3% on year-on-year basis, to USD 2.2 billion);…

Textile, leather and foot- wears materials and auxiliaries group reached USD 13.53 billion in import value ; was up by 31.9% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 41% on year-on-year basis, to USD 6.94 billion) ; Taiwan (China) (up by 32.5% on year-on-year basis, to USD 1.3 billion); Republic of Korea (up by 16.5% on year-on-year basis, to USD 1.3 billion);

Trading Partners

7. For Jan-June period of 2021, Vietnamese merchandise trade with trading partners in Asia was totaled USD 205.25 billion in value terms, which moved up 32.8% as compared to the same period of 2020. Trade-in-goods of Vietnam with America was followed, which reached USD 66.23 billion and increased by 39.2%. The values of other continents were Europe: USD 35.58 billion, up by 19.2%; Oceania: USD 6.62 billion, up by 42.3% and Africa: USD 3.98 billion, up by 30.5% in comparison with the same period of 2020.

8. For Jan-June period of 2021, 4 exporting markets of Vietnam with turnover of over USD 10 billion were: The United States of America (reached USD 45.58 billion); China (reached USD 24.49 billion); Republic of Korea (reached USD 10.32 billion) and Japan (reached USD 10.06 billion).

9. On import side, four partners exporting goods to Vietnam with turnover of over 10 billion were as follows: China (reached USD 52.92 billion); Republic of Korea (reached USD 25.37 billion); Japan (reached USD 10.68 billion); Taiwan (reached USD 10.14 billion).

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