Up $13 billion, Vietnamese enterprises prop up for import and export

Contribution of domestic enterprises and FDI enterprises to the total import-export turnover of the country as of September 15, 2020. Sketched by: T. Bình.

The latest preliminary statistics of the General Department of Vietnam Customs showed the total import and export value of Vietnam in the first half of September reached $24.3 billion. The results achieved in the first half of September brought the total value of the country's import and exports from the beginning of the year to the end of September 15 to $361.51 billion, up 0.9%, an increase of $3.26 billion from the same period in 2019.

Notably, Vietnam’s stability and slight growth in recent time was thanks to domestic enterprises.

The import-export value of domestic enterprises was $144.26 billion, up 9.8% (an increase of $12.88 billion) over the same period in 2019; while enterprises with foreign direct investment (FDI) only reached $217.25 billion, down 4.2% (equivalent to $9.62 billion).

Thanks to that rise, the proportion contributing to the size of import and export of domestic enterprises increased to about 40% compared to 36.7% of the same period in 2019.

According to the General Department of Vietnam Customs, in the first half of September, the trade balance of goods was in a surplus of $973 million and raised the country's trade surplus by the end of September 15 to $14.47 billion.

Regarding commodity groups with notable fluctuations in the first half of September, many export groups tend to decrease compared to the second half of August.

The total value of Vietnam's exports in the first period of September hit $12.64 billion, down 15.7% (equivalent to a decrease of $2.35 billion) compared to the second period of August.

Some commodity groups fell sharply such as mobile phones and spare parts, down by 15.7%; gemstones, precious metals and products down by 73%; machinery, equipment, tools and spare parts down by 21.3%; textiles and garments fell by 14.2%; footwear drop by 20.1%; iron and steel decreased by 28.4%.

By the end of September 15, total export value reached $187.99 billion, up 3.3%, an increase of $6.01 billion over the same period in 2019.

For imports, the situation was more positive with a total value of $11.66 billion, a slight increase of 0.1% (an increase of $6 million) compared to the second half of August.

The import value of some commodity groups increased significantly, such as phones and accessories by 5.5%; machinery, equipment and spare parts by 2.9%; auto components and spare parts by 25.2%; automobiles of all kinds increased by $30 million, up 28.5%.

By the end of September 15, total import value of the country reached $173.52 billion, down 1.6% (a decrease of $2.75 billion) over the same period in 2019.