Preliminary assessment of Vietnam international merchandise trade performance in the second half of August, 2016

Accordingly, the total value of export and import turnover of Vietnam in the second half of August was US dollars 16.9 billion, up by 14.4% as compared to the first half of August-2016 (equivalent to USD 2.12 billion). Furthermore, in the 8 months (January-August) of 2016, Vietnam was in trade surplus of over USD 2.87 billion.

Vietnam‘s trade-in-goods in 8 months of 2016 totaled US dollars 223.55 billion in value terms, expanded by 3.3% as compared to the performance of same period last year. In which, the total merchandise exports valued US dollars 113.21 billion, moved up by 6.4% and the total merchandise imports valued US dollars 110.34 billion, went up by 0.3%.

In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation from January to August reached over USD 143.94 billion, up by 4.9% in comparison to the same period of prior year.

Export:

As compared to the first half of August-2016, second half of the month increase in the total export value (22.3% - USD 1.62 billion equally) is reflected by upturn in telephone, mobile phone and part thereof (up by USD 295 million); textiles and garments (up by USD 292 million); machine, equipment, tools and instrument (up by USD 139 million); computer, electrical products, spare-parts and component thereof (up by USD 115 million); fishery products (up by USD 86 million); wood and wooden products (up by USD 85 million)…

It was also showed by Vietnam Customs Statistics that export value of some commodities shrunk in the second half of August, which included: clinker and cement (down by USD 12 million); maniocs and manioc products (down by USD 5 million)…

Chart 1: Top 10 major exported commodities of Vietnam in the 8 months of 2016 as compared to the same period of 2015

Totally, from January to second half of August-2016, total export value from Vietnam was USD 131.21 billion, climbed up 6.4% as compared to the same period of 2015 (equivalent to USD 6.82 billion in absolute value terms).

Import:

The first half to second half of August increase in the total of import value (6.7%) reflected upturn in: animal fodders and animal fodders materials (up by USD 113 million); computer, electrical products, spare-parts and component thereof (up by USD 105 million); telephone, mobile phone and part thereof (up by USD 58 million)…Decrease occurred in importation of some commodities such as: irons and steels (down by USD 52 million); cashew nut (down by USD 25 million); coal (down by USD 22 million)…

Chart 2: Top 10 major imported commodities of Vietnam in the 8 months of 2016 as compared to the same period of 2015

From January to second half of August-2016, total import value into Vietnam was USD 110.34 billion, went up by 0.3% as compared to the same period of 2015 (equivalent to USD 311 million in absolute value terms)​.