Preliminary assessment of Vietnam international merchandise trade performance in the first 11 months of 2020

2. In the first 11 months of 2020, Vietnam‘s trade-in-goods totaled US dollars 489.88 billion in value terms, 3.6% above the corresponding period of last year. As compared to result of a year earlier, total merchandise exports value rose 5.5%, to US dollars 254.97 billion and the total merchandise imports value increased 1.7% to US dollars 234.91 billion. Accordingly, Vietnam’s trade balance in the first 11 months of 2020 was in the surplus of US dollars 20.06 billion.

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 333.46 billion in total for the January-November period of 2020, up by 9.5 % on year-on-year basis. Total value of FDI exportation was USD 182.44 billion, increased by 8.6%. On import side, the total value of those companies was USD 151.02 billion, up by 10.6%.

Main Exports and Imports

4. The October of 2020 to November of 2020 decrease in total merchandise exports was due to the downwards in telephones, mobile phones and parts thereof (down by USD 996 million); computers, electrical products, spare-parts and components thereof (down by USD 399 million); textiles and garments (down by USD 320 million);...

5. On a year-on-year basis, exports was up USD 13.23 billion, to USD 254.97 billion. The main products, which contributed to the increase, were computers, electrical products, spare-parts and components thereof (up by USD 7.89 billion); machine, equipments, tools and instruments (up by USD 7.49 billion); wood and wooden products (up by USD 1.49 billion);…

6. The October of 2020 to November of 2020 increase in total merchandise imports was due to the upwards of the commodities as follows: iron and steels (up by USD 103 million); computers, electrical products, spare-parts and components thereof (up by USD 100 million); machine, equipments, tools and instruments (up by USD 91 million); …

7. On a year-on-year basis, imports went up USD 3.93 billion, to USD 234.91 billion. The increase in imports was mainly contributed by the upturns of the following products: computers, electrical products, spare-parts and components thereof (up by USD 10.54 billion); telephones, mobile phones and parts thereof (up by USD 1.2 billion); plastic products (up by USD 606 million); …

Trading Partners

8. In the 11 months of 2020, Vietnamese merchandise trade with trading partners in Asia was totaled USD 315.84 billion in value terms, which moved up 2.2% as compared to the same period of 2019. Trade-in-goods of Vietnam with America was followed, which reached USD 91.24 billion and increased by 15.4%. The values of other continents were Europe: USD 57.92 billion, down by 4.4%; Oceania: USD 8.8 billion, down by 0.2% and Africa: USD 6.2 billion, down by 5.5% in comparison with the same period of last year.

9. For January-November period of 2020, 4 exporting markets of Vietnam with turnover of over USD 17 billion were: The United States of America (reached USD 69.4 billion); China (reached USD 43.2 billion); Japan (reached USD 17.5 billion) and Republic of Korea (reached USD 17.4 billion).

10. On import side, four partners exporting goods to Vietnam with turnover of over 15 billion were as follows: China (reached USD 74.7 billion); Republic of Korea (reached USD 41.8 billion); Japan (reached USD 18.4 billion); Taiwan (reached USD 15.1 billion).