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.

Vietnam‘s trade-in-goods from January to the first half of Julyof 2020 totaled US dollars 261.34 billion in value terms. It posted a decrease of 1.4% (equivalent to USD 3.75 billion) from the same period of  previous year. In which, the total merchandise exports value was up0.4% to nearly US dollars 133.7 billion and the total merchandise imports value was down3.3%, to US dollars 127.7 billion.

In the view of FDI traders, the value of exportation and importation in the first half of July reached USD 12.4 billion, down by 6.1% as compared to the second half ofJune2020. Therefore, from January to July 15th of 2020, the total value of FDI merchandise trade went down by5.6% to US dollar 157.7billion.

Export:

When compared with the second half of June-2020, export of first half of Julydecreased by 10.4%, mostly as a result of the downturn registered in computer electrical products and part thereofs (down by 18.4% - USD 385 million); telephone, mobile phone and part thereof (down by 13.5% - USD 276 million); irons and steel (down by 46.3% - USD 124 million equally); footwear (down by 10.9% - USD 79 millions);

Chart 1: Top 10 main exported commodities from Jan. to July 15th 2020 over the same period of 2019

Import:

In the first half of July2020, import increased by 0.3% when compared with the second half of Jun, mainly reflecting the upturn incrude oil (up by 124.5% - USD 98 million); irons and steels (up by 21.3% - USD 67.45 millions); corn (up by 54.6% - USD 54.23 million)…

Chart 2: Top 10 main importedcommodities from Jan. to July 15th 2020 over the same period of 2019