Preliminary assessment of Vietnam international merchandise trade performance in the first 8 months of 2020

Preliminary assessment of Vietnam international merchandise trade performance in the first 8 months of 2020

Highlights 1. According to trade statistics of Vietnam Customs, in August of 2020, an 7.4% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of July 2020. Exports went up 11.4 %, to USD 27.7 billion and imports increased 2.8%, to USD 22.72 billion in terms of month-on- month basis. As a result, there was a USD 4.99 billion surplus in Vietnam’s trade balance in this month.
Support businesses in assessing and measuring compliance

Support businesses in assessing and measuring compliance

VCN- Enterprises will be classified into five compliance levels instead of the current 3 levels.
Preliminary assessment of Vietnam international merchandise trade performance in the first half of July, 2020

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

The Vietnam Customs Statistics announced that in the first half (01-15/7/2020) of July-2020, Vietnam’stotal exports of US dollars 10.91 billion and imports of US dollars 10.48 billion resulted in a trade surplus of US dollars 434million. Accordingly, the total value of export and import turnover of Vietnam in the first half of Julywas US dollars 21.39 billion, down by 5.4% as compared to the second half of June-2020.
To reduce 30% of samples subject to analysis, classification and assessment

To reduce 30% of samples subject to analysis, classification and assessment

VCN - General Department of Customs' plan also requires a 30% reduction in the number of samples subject to analysis, classification and assessment.
Tax extension: Only need to be object, no declaration and no damage assessment

Tax extension: Only need to be object, no declaration and no damage assessment

VCN- This pandemic is spreading through many countries around the world. For Vietnam, the impact will be on social life, especially in areas such as import, export, trade, tourism and industries which we have just proposed tax extension.
Assessing the compliance of customs declarants

Assessing the compliance of customs declarants

VCN- Previously, the Ministry of Finance's Decision 464/QD-BTC dated June 29, 2015 regulating risk management in customs operations, the regulated subjects were enterprises engaged in import, export and transit activities.
2,172 civil servants of 30 units will be assessed for capacity in 2019

2,172 civil servants of 30 units will be assessed for capacity in 2019

VCN - In the capacity assessment in 2019, there are 2,172 cadres and civil servants
Preliminary assessment of Vietnam international merchandise trade performance in the first half of September, 2019

Preliminary assessment of Vietnam international merchandise trade performance in the first half of September, 2019

The Vietnam Customs Statistics announced that in the first half (01-15/9/2019) of September-2019 , Vietnam’s total exports of US dollars 10.45 billion and imports of US dollars 10.26 billion resulted in a trade surplus of nearly US dollars 189 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of June was US dollars 20.71 billion, down by 18,8% as compared to the second half of August-2019.
Preliminary assessment of Vietnam international merchandise trade performance in the first 9 months of 2019

Preliminary assessment of Vietnam international merchandise trade performance in the first 9 months of 2019

1. According to trade statistics of Vietnam Customs, in September 2019, a 6.7% reduction in total external merchandise turnover of Vietnam was recorded on a month-on-month basis. Exports went down 9.8 %, to USD 23.36 billion and imports shrunk 3.1%, to USD 21.75 billion as compared to the result of August 2019. As a result, there was a USD 1.61 billion surplus in Vietnam’s trade balance in this month.
Preliminary assessment of Vietnam international merchandise trade performance in the first 8 months of 2019

Preliminary assessment of Vietnam international merchandise trade performance in the first 8 months of 2019

Highlights 1. According to trade statistics of Vietnam Customs, in August 2019, a 5.3% upturns in total external merchandise turnover of Vietnam was recorded on a month-on-month basis. Exports went up 12.6 %, to USD 25.89 billion and imports shrunk 2.1%, to USD 22.45 billion as compared to the result of July 2019. As a result, there was a USD 3.44 billion surplus in Vietnam’s trade balance in this month.
Preliminary assessment of Vietnam international merchandise trade performance in the second half of July, 2019

Preliminary assessment of Vietnam international merchandise trade performance in the second half of July, 2019

The Vietnam Customs Statistics announced that in the second half of July, 2019 the total Vietnam’s exports of US dollars 12.42 billion and imports of nearly US dollars 11.61 billion resulted in a trade surplus of US dollars 809 million. Accordingly, the total value of export and import turnover of Vietnam in the second half of July was US dollars 24.03 billion, up by 10.8% as compared to the first half of July-2019.   
Preliminary assessment of Vietnam international merchandise trade performance in the first half of 2019

Preliminary assessment of Vietnam international merchandise trade performance in the first half of 2019

Highlights 1.  According to trade statistics of Vietnam Customs, in June 2019, a 9.3% downturns in total external merchandise turnover of Vietnam was recorded on a month-on-month basis. Exports went down 2.2 %, to USD 21.43 billion and imports decreased 15.9%, to USD 19.49 billion as compared to the result of May 2019. As a result, there was a USD 1.93 billion surplus in Vietnam’s trade balance in this month.  
Preliminary assessment of Vietnam international merchandise trade performance in the second half of June, 2019

Preliminary assessment of Vietnam international merchandise trade performance in the second half of June, 2019

The Vietnam Customs Statistics announced that in the second half of June, 2019 the total Vietnam’s exports of US dollars 11.23 billion and imports of nearly US dollars 9.73 billion resulted in a trade surplus of US dollars 1.5 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of June was US dollars 20.96 billion, up by 5.5% as compared to the first half of June-2019.
Preliminary assessment of Vietnam international merchandise trade performance in the first half of June, 2019

Preliminary assessment of Vietnam international merchandise trade performance in the first half of June, 2019

The Vietnam Customs Statistics announced that in the first half (01-15/6/2019) of June-2019 , Vietnam’s total exports of US dollars 10.18 billion and imports of US dollars 9.69 billion resulted in a trade surplus of nearly US dollars 485 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of June was US dollars 19.87 billion, down by 16.3% as compared to the second half of May-2019.
Preliminary assessment of Vietnam international merchandise trade performance in the first 5 months of 2019

Preliminary assessment of Vietnam international merchandise trade performance in the first 5 months of 2019

1.  According to trade statistics of Vietnam Customs, in April 2019, a 8.8% downturns in total external merchandise turnover of Vietnam was recorded on month-on-month basis. Exports went up 7.2 %, to USD 21.91 billion and imports increased 10.5%, to USD 23.19 billion as compared to the result of April 2019. As a result, there was a USD 1.29 billion deficit in Vietnam’s trade balance in this month.
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