Seven commodity groupswith import and export turnover worth 7 billion in first half of 2021

	Import and export turnover reaches US$30 billion in second half of 2020
	Import and export turnover reaches US$515 billion by mid-December
	Vietnam, Laos see import and export turnover rebound

Import and export turnover in the first half of 2020 and 2021, units “US$ billion”. Chart by: T.B

Trade deficit US$250 million

According to the GDVC’s announcement on the afternoon of January 20, total export turnover in the first half of January was US$12.9 billion, and import turnover was US$13.15 billion.

Inthe first half of the year, Vietnam saw a trade deficit of US$250 million. This is a remarkable reversal from the trade surplusof nearly US$20 billion in 2020.

Although there was a sudden reversal, this is not unusual. Because, the first period of the year, especially January, usually falls on the Lunar New Year or near the Lunar New Year of Vietnam and some Asian countries, including China,Vietnam's largest trading partner. Therefore, Vietnam’s demand for imported goods increased higher, while enterprises have long holidays, so export activities reduce.

For example, in the first half of January 2020, Vietnam had a trade deficit of more than US$400 million, or the first half of 2019, thecountry also had a trade deficit of nearly US$1 billion.

Therefore, according to annual practice, after the Lunar New Year holiday, when production activities go into orbit and enterprises boost exports, Vietnam’s trade balance will have atrade surplus. The last months of the year are the peak period forgoods export.

Increase two commodity groups with turnover worth billions

Vietnam’s import and export activities showed a remarkable improvement in both export and import turnover compared to last year.

First of all, export turnover increasedUS$2 billion or 18.3% year-on-year.

This is an impressive start compared to the 7%growth rate of 2020.

In the first half of the year, the country had four commodity groups with an export turnover of US$1 billion or more, an increase of one group compared to the same period in 2020.

The new commodity groups with export turnover of US$ billionwere machinery, equipment, tools and spare parts with a turnover of US$1.45 billion, a sharp increase of 72% year-on-year.

The remaining three commodity groups that still maintained an export turnover of US$ billion fromthe same period in 2020, are phones and accessories; computers, electronic products and components; and textile and garment.

Of which, phones and spare parts had the largest export turnover of US$2.86 billion, increasing by nearly US$1.5 billion (it reached US$1.375 billion in the same period in 2020)

Export turnover of computer, electronic products and components reached US$1.7 billion, upby 10%; export turnover of textiles and garments was US$ 1.23 billion, decreasing by more than US$200 million.

Import turnover reached nearly US$2.2 billion (or increasing by more than 19%).

In the first half of the year, there were three import commodity groups with an import turnover of more than US$1 billion or more, increasing by one group compared to the same period in 2020.

The new commodity with import turnover of US$1.3 billion was phones and accessories, surging by nearly US$700 million or 112%.

The two commodity groups with import turnover of US$ billion were computers, electronic products and components; machinery, equipment, tools and spare parts.

Of which, import turnover of electronic products and components was US$2.73 billion, increasing by 25%; machinery, equipment, tools and spare parts reached more than US$ 2 billion, increasing by 9.5%.