Preliminary assessment of Vietnam international merchandise trade performance in the first 10 months of 2021

2. In the first 10 months of 2021, Vietnam‘s trade-in-goods totaled US dollars 539.42 billion in value terms, 22.6% above the corresponding period of last year. As compared to result of a year earlier, total merchandise exports value rose 17.4%, to US dollars 269.77 billion and the total merchandise imports value increased 28.3% to US dollars 269.65 billion. Accordingly, Vietnam’s trade balance for January-October period of 2021 was in the surplus of US dollars 125 million.

3. Trade data disseminated recently by Vietnam Customs announced that the total value of exportation and importation by foreign direct invested (FDI) traders reached USD 37.76 billion in total for October of 2021, down by 1.1 % on month-on-month basis. FDI’s export value of USD 20.68 billion and FDI’s import value of USD 17.08 billion led to a trade surplus of USD 3.6 billion.

For January-October period of 2021, trade-in-goods by FDI traders totaled US dollars 374.03 billion, up by 25.4 % on year-on-year basis. Total value of FDI exportation was USD 197.49 billion, increased by 20.8%. On import side, the total value of those companies was USD 176.54 billion, up by 31%. As a result, FDI’s trade balance was in surplus of USD 20.95 billion.

Main Exports and Imports

4. The September of 2021 to October of 2021 increase in total merchandise exports was due to the upwards in machine, equipments, tools and instruments (up by USD 678 million); textiles and garments (up by USD 367 million); foot-wears (up by USD 259 million); wood and wooden products (up by USD 250 million);...

On a year-on-year basis, exports increase USD 40.02 billion, to USD 269.77 billion. The main products, which contributed to the increase, were machine, equipments, tools and instruments (up by USD 8.73 billion); iron and steels (up by USD 5.49 billion); computers, electrical products, spare-parts and components thereof (up by USD 4.44 billion); telephones, mobile phones and parts thereof (up by USD 4.40 billion); …

5. Trade statistics of Vietnam Customs shows that 4 biggest commodity groups in the first 10 months of 2021 were: telephones, mobile phones and parts thereof; computers, electrical products, spare-parts and components thereof; machine, equipments, tools and instruments; textiles and garments.

Telephones, mobile phones and parts thereof reached USD 46.57 billion in export value and was up by USD 10.4% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were China (up by 41.2% on year-on-year basis, to USD 11.85 billion); the United States (up by 1.4% on year-on-year basis, to USD 7.87 billion) and EU (27) (down by 17.2% on year-on-year basis, to USD 6.29 billion).

Computers, electrical products, spare-parts and components thereof reached USD 40.85 billion in export value; went up 12.2% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 23.8% on year-on-year basis, to USD 10.46 billion); China (down by 6.1% on year-on-year basis, to USD 8.69 billion); EU (27) (up by 5.5% on year-on-year basis, to USD 5.27 billion);…

Machine, equipments, tools and instruments reached USD 29.9 billion in export value; went up by 41.2% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 47.2% on year-on-year basis, to USD 13.36 billion); EU (27) (up by 46.7% on year-on-year basis, to USD 3.52 billion); China (up by 47.6% on year-on-year basis, to USD 2.25 billion); Republic of Korea (up by 23.7%, to USD 2.1 billion)…

Textiles and garments reached USD 26.10 billion in export value ; went up by 5.5% on year-on-year basis. The biggest trading partners of Vietnam importing this commodity were the United States (up by 10.2% on year-on-year basis, to USD 12.80 billion); EU (27) (up by 1.14% on year-on-year basis, to USD 2.6 billion); Japan (down by 11.0% on year-on-year basis, to USD 2.6 billion);…

6. The September of 2021 to October of 2021 reduction in total merchandise imports was due to the downwards of the commodities as follows: computers, electrical products, spare-parts and components thereof (down by USD 438 million); telephones, mobile phones and parts thereof (up by USD 204 million); chemical products (down by USD 130 million); machine, equipments, tools and instruments (down by USD 111 million);…

On a year-on-year basis, imports went up USD 59.5 billion, to USD 269.65 billion. The growth in imports was mainly contributed by the upturns of the following products: computers, electrical products, spare-parts and components thereof (up by USD 9.07 billion); machine, equipments, tools and instruments (up by USD 8.67 billion); telephones, mobile phones and parts thereof (up by USD 4.23 billion); …

7. Trade statistics of Vietnam Customs shows that 4 biggest commodity groups in the first 10 months of 2021 were: computers, electrical products, spare-parts and components thereof; machine, equipments, tools and instruments; telephones, mobile phones and parts thereof; textile, leather and foot-wears materials and auxiliaries group.

Computers, electrical products, spare-parts and components thereof reached USD 60.35 billion in import value ; went up by 17.7% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 23.7% on year-on-year basis, to USD 17.43 billion); Republic of Korea (up by 15.2% on year-on-year basis, to USD 16.24 billion); Taiwan (China) (up by 25.8%, to USD 7.84 billion);…

Machine, equipments, tools and instruments reached USD 38.39 billion in import value; went up 29.2% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were the China (up by 57.6% on year-on-year basis, to USD 20.65 billion); Republic of Korea (up by 3.4% on year-on-year basis, to USD 5.1 billion); Japan (down by 1.2% on year-on-year basis, to USD 3.62 billion);…

Telephones, mobile phones and parts thereof reached USD 16.8 billion in import value ; was up by 33.6% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were Republic of Korea (up by 50% on year-on-year basis, to USD 8.3 billion); China (up by 17.8% on year-on-year basis, to USD 7.29 billion);…

Textile, leather and foot-wears materials and auxiliaries group reached USD 21.58 billion in import value; was up by 24% on year-on-year basis. The biggest trading partners of Vietnam, from which this commodity was originated, were China (up by 52% on year-on-year basis, to USD 11.12 billion); Republic of Korea (up by 11% on year-on-year basis, to USD 2.04 billion); Taiwan (up by 23%, to USD 2.03 billion); the United States (down by 4.4%, to 1.49 billion);...

Trading Partners

8. In the first 10 months of 2021, Vietnamese merchandise trade with trading partners in Asia was totaled USD 349.12 billion in value terms, which moved up 23.6% as compared to the same period of 2020. Trade-in-goods of Vietnam with America was followed, which reached USD 112.32 billion and increased by 23.1%. The values of other continents were Europe: USD 59.45 billion, up by 12.9%; Oceania: USD 11.52 billion, up by 44% and Africa: USD 7.02 billion, up by 24.2% in comparison with the same period of 2020.

9.For Jan-October period of 2021, 4 exporting markets of Vietnam with turnover of over USD 16 billion were: The United States of America (reached USD 76.75 billion); China (reached USD 44.46 billion); Republic of Korea (reached USD 17.95 billion) and Japan (reached USD 16.26 billion).

10. On import side, four partners exporting goods to Vietnam with turnover of over 16 billion were as follows: China (reached USD 89.15 billion); Republic of Korea (reached USD 45.07 billion); Japan (reached USD 18.09 billion); Taiwan (reached USD 16.92 billion).