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

Saturday, July 4, 2020 10:19

The Vietnam Customs Statistics announced that in the second half of May, 2020 the total Vietnam’s exports of US dollars 10.95 billion and imports of nearly US dollars 8.97 billion resulted in a trade surplus of US dollars 1.98 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of May was over US dollars 19.92 billion, up by 14.5% as compared to the first half of May-2020. Furthermore, in the first 5 months of 2020, Vietnam was in trade surplus of USD 3.54 billion.

Vietnam‘s trade-in-goods in the first 5 months of 2020 totaled US dollars 196.89 billion in value terms, down by 2.8% 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 5 months of 2020 reached USD 120.17 billion, down by 6.2% in comparison to the same period of 2019.

Export:

As compared to the first half of May-2020, second half of the month increase in the total export value (33.2% - USD 2.73 billion equally) is reflected by upturn in telephones, mobile phones and part thereof (up by 86.6% - USD 886 million equally); computer, electrical products (up by 29.6% - USD 437 million equally); textile and garments (up by 25.4% - USD 210 million); machine, tools and equipments (up by 27.8% - USD 209 million equally); foot-wear (up by 22.9% - USD 135 million equally); wood and wooden products (up by 36.8% - USD 120 million)…

Totally, in the first 5 months of 2020 total export value from Vietnam was USD 100.21 billion, slightly down by 0.9% as compared to the same period of 2019 (equivalent to USD 0.91 billion in absolute value terms).

Import:

The first half to second half of May shrunk in the total of import value (2.2%) reflected downturn in machine, equipment tools and instruments (down by 20% - USD 286 million equally); irons and steels (down by 27.9% - USD 102 million equally); chemical products (down by 22.8% - USD 50 million equally)…

From January to second half of May-2020, total import value into Vietnam was USD 96.67 billion, went down by 4.6% as compared to the same period of 2019 (equivalent to USD 4.71 billion in absolute value terms).