Preliminary assessment of Vietnam international merchandise trade performance in the second half of July, 2020

Furthermore, in the first 7 months of 2020, Vietnam was in trade surplus of USD 8.39 billion. Vietnam‘s trade-in-goods in the first 7 months of 2020 totaled US dollars 286.82 billion in value terms, down by 0.8% as compared to the performance of the same period of last year.

In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation in the first 7 months of 2020 reached USD 172.86 billion, down by 5.1% in comparison to the same period of 2019.

Export:

As compared to the first half of July-2020, second half of the month increase in the total export value (27.6% - USD 3.01 billion equally) is reflected by upturn in telephones, mobile phones and part thereof (up by 42.9% - USD 757 million equally); computer, electrical products (up by 37.8% - USD 645 million equally); machine, tools and equipments (up by 38.7% - USD 370 million equally); textile and garments (up by 14% - USD 198 million); wood and wooden products (up by 19.7% - USD 101 million)…

Totally, in the first 7 months of 2020 total export value from Vietnam was USD 147.61 billion, slightly up by 1.5% as compared to the same period of 2019 (equivalent to USD 2,11 billion in absolute value terms).

Chart 1: Top 10 main exported commodities of Vietnam in the second half of July as compared to the first half of July

Import:

The first half to second half of July widen in the total of import value (10.6%) reflected upturn in computer, electrical products (up by 15% - USD 391 million equally); machine, tools and equipments (up by 13.5% - USD 201 million equally); telephones mobile phone (up by 24% - USD 126 million equally)…

From January to second half of July-2020, total import value into Vietnam was USD 139.21 billion, went down by 3% as compared to the same period of 2019 (equivalent to USD 4.3 billion in absolute value terms).

Chart 2: Top 10 main imported commodities of Vietnam in the second half of July as compared to the first half of July.