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

19:37 | 19/05/2021

1. According to trade statistics of Vietnam Customs, in March 2021, a 42.2% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of February 2021. Exports went up 46.8 %, to USD 29.65 billion and imports increased 37.8%, to USD 28.46 billion in terms of month-on- month basis. As a result, there was a USD 1.2 billion surplus in Vietnam’s trade balance in this month.

2. In the first quarter of 2021, Vietnam‘s trade-in-goods totaled US dollars 154.01 billion in value terms, 25.2% above the corresponding period of last year. As compared to result of a year earlier, total merchandise exports value rose 23.7%, to US dollars 78.40 billion and the total merchandise imports value increased 26.8% to US dollars 75.61 billion. Accordingly, Vietnam’s trade balance in 2020 was in the surplus of US dollars 2.79 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 40.12 billion in total for March of 2021, up by 36.7 % on month-on-month basis. FDI’s export value of USD 21.93 billion and FDI’s import value of USD 18.18 billion led to a trade surplus of USD 3.75 billion.

For Jan-Mar period of 2021, trade-in-goods by FDI traders totaled US dollars 108.67 billion, up by 29.9 % on year-on-year basis. Total value of FDI exportation was USD 58.95 billion, increased by 29.7%. On import side, the total value of those companies was USD 49.72 billion, up by 30.1%. As a result, FDI’s trade balance was in surplus of USD 9.23 billion.

Preliminary assessment of Vietnam international merchandise trade performance in the first quarter of 2021  	   	EnglishStatistics  	: Vietnam Customs

Main Exports and Imports

4. The February of 2021 to March of 2021 increase in total merchandise exports was due to the upwards in computers, electrical products, spare-parts and components thereof (up by USD 1.31 billion); machine, equipments, tools and instruments (up by USD 1.15 billion); telephones, mobile phones and parts thereof (up by USD 915 million); textiles and garments (up by USD 903 million);...

Preliminary assessment of Vietnam international merchandise trade performance in the first quarter of 2021  	   	EnglishStatistics  	: Vietnam Customs

On a year-on-year basis, exports was up USD 15.01 billion, to USD 78.40 billion. The main products, which contributed to the increase, were machine, equipments, tools and instruments (up by USD 3.96 billion); computers, electrical products, spare-parts and components thereof (up by USD 2.84 billion); telephones, mobile phones and parts thereof (up by USD 1.49 billion);…

5. Trade statistics of Vietnam Customs shows that 4 biggest commodity groups in the first quarter 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 14.37 billion in export value and was up by USD 11.6% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were China (up by 62.6% on year-on-year basis, to USD 3.22 billion); the United States (down 7.1% on year-on-year basis, to USD 2.48 billion) and EU (27) (down by 18.3% on year-on-year basis,, to USD 2.04 billion).

Computers, electrical products, spare-parts and components thereof reached USD 11.95 billion in export value; went up 31.2% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 46.2% on year-on-year basis, to USD 2.86 billion); China (up by 3.9% on year-on-year basis, to USD 2.68 billion); EU (27) (up by 38.8% on year-on-year basis, to USD 1.56 billion);…

Machine, equipments, tools and instruments reached USD 9.1 billion in export value; went up by 77.2% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up near 270% on year-on-year basis, to USD 4.36 billion); EU (27) (up by 66.4% on year-on-year basis, to USD 1.4 billion); Japan (up by 23.9% on year-on-year basis, to USD 615 million);…

Textiles and garments reached USD 7.21 billion in export value ; went up by 1.4% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 5.9% on year-on-year basis, to USD 3.51 billion); Japan (down by 13.7% on year-on-year basis, to USD 794 million); EU (27) (up by 3.1% on year-on-year basis, to USD 680 million);…

6. The February of 2021 to March of 2021 increase in total merchandise imports was due to the upwards of the commodities as follows: machine, equipments, tools and instruments (up by USD 1.11 billion); computers, electrical products, spare-parts and components thereof (up by USD 1.03 billion); textiles, leather and foot-wears materials and auxiliaries group (up by USD 810 million); cashew nuts (up by USD 595 million)…

Preliminary assessment of Vietnam international merchandise trade performance in the first quarter of 2021  	   	EnglishStatistics  	: Vietnam Customs

On a year-on-year basis, imports went up USD 15.98 billion, to USD 75.61 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 2.78 billion); machine, equipments, tools and instruments (up by USD 2.56 billion); telephones, mobile phones and parts thereof (up by USD 1.53 billion); …

7. Trade statistics of Vietnam Customs shows that 4 biggest commodity groups were: computers, electrical products, spare-parts and components thereof; machine, equipments, tools and instruments; textile, leather and foot- wears materials and auxiliaries group; telephones, mobile phones and parts thereof.

Computers, electrical products, spare-parts and components thereof reached USD 16.55 billion in import value ; went up by 20.2% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 66% on year-on-year basis, to USD 1.85 billion); Taiwan (China) (up by 45% on year-on-year basis, to USD 2.22 billion);…

Machine, equipments, tools and instruments reached USD 10.84 billion in import value ; went up 30.9% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were the China (up by 69% on year-on-year basis, to USD 5.33 billion); Republic of Korea (up by 15% on year-on-year basis, to USD 1.77 billion); Japan (down by 4% on year-on-year basis, to USD 1.09 billion);…

Textile, leather and foot- wears materials and auxiliaries group reached USD 5.79 billion in import value ; was up by 13.1% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 25.2% on year-on-year basis, to USD 2.82 billion) ; Taiwan (China) (up by 5.2% on year-on-year basis, to USD 609 million); Republic of Korea (up by 6.4% on year-on-year basis, to USD 565 million); …

Telephones, mobile phones and parts thereof reached USD 4.81 billion in import value ; was up by 46.7% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 45.3% on year-on-year basis, to USD 2.26 billion) and Republic of Korea (up by 41.2% on year-on-year basis, to USD 2.08 billion)...

Trading Partners

8. In the first quarter of 2021, Vietnamese merchandise trade with trading partners in Asia was totaled USD 99.72 billion in value terms, which moved up 25% as compared to the same period of 2020. Trade-in-goods of Vietnam with America was followed, which reached USD 31.96 billion and increased by 31%. The values of other continents were Europe: USD 17.44 billion, up by 15.1%; Oceania: USD 3.08 billion, up by 30.2% and Africa: USD 1.8 billion, up by 35% in comparison with the same period of 2020.

Preliminary assessment of Vietnam international merchandise trade performance in the first quarter of 2021  	   	EnglishStatistics  	: Vietnam Customs

9. For Jan-Mar period of 2021, 4 exporting markets of Vietnam with turnover of over USD 4 billion were: The United States of America (reached USD 22.24 billion); China (reached USD 12.56 billion); Republic of Korea (reached USD 5.17 billion) and Japan (reached USD 4.88 billion).

Preliminary assessment of Vietnam international merchandise trade performance in the first quarter of 2021  	   	EnglishStatistics  	: Vietnam Customs

10. On import side, four partners exporting goods to Vietnam with turnover of over 5 billion were as follows: China (reached USD 24.34 billion); Republic of Korea (reached USD 12.64 billion); Japan (reached USD 5.21 billion); Taiwan (reached USD 5 billion).

Preliminary assessment of Vietnam international merchandise trade performance in the first quarter of 2021  	   	EnglishStatistics  	: Vietnam Customs

Source: Vietnam Customs