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

The Vietnam Customs Statistics announced that in the second half of July, 2020 the total Vietnam’s exports of US dollars 13.92 billion and imports of nearly US dollars 11.58 billion resulted in a trade surplus of US dollars 2.34 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of July was over US dollars 25.51 billion, up by 19.3% as compared to the first 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

 
 

Source: Vietnam Customs

 

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

Source: Vietnam Customs