Preliminary assessment of Vietnam international merchandise trade performance in the first 9 months of 2020

2. In the first 9 months of 2020, Vietnam‘s trade-in-goods totaled USD 388.62 billion in value terms, up by 1.7% on year-on-year basis. As compared to result of a year earlier, total merchandise exports value increased 4.1% to USD 202.57 billion and the total merchandise imports value down 0.7% to USD 186.05 billion. Accordingly, Vietnam’s trade balance in 9 months of 2020 was in the surplus of USD 16.52 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 260.05 billion in total for the first 9 months of 2020, up by 6.4 % on year-on-year basis. Total value of FDI exportation was USD142.4 billion, increased by 5.9%.

On import side, the total value of those companies was USD 117.7 billion, up by 6.9%.

Main Exports and Imports

4. The August of 2020 to September of 2020 decreased in total merchandise exports was due to the dowmwards in mobile phones and parts thereof (down by 2.5% - USD 134 million); precious stone (down by 77.2% - USD 720 million); Foot-wears (down by 9.2% to USD 127 million)...

5. The increase of Vietnam‘s total merchandise exports in the first 9 months of 2020 was due to the upwards in computers, electrical products, spare-parts and components thereof (up by 25.8% - USD 6.6 billion); Machine, equipment, tools and instruments (up by 39.8% - USD 5.18 billion); …

6.The August of 2020 to September of 2020 increase in total merchandise imports was due to the upwards in computers, electrical products, spare-parts and components thereof (up by 4.9% - USD 298 billion); telephones, mobile phones and parts thereof (up by 15.7%- USD 253 million);…

7. On year-on-year basis, imports went down by 0.7%, equivalent to USD 1.33 billion. The decrease in imports was mainly contributed by the following products: petroleum products (down by 41.6% - USD 1.81 billion equally), motor vehicles (down by 38.2% - USD 912 million),…

Trading Partners

8. In the first 9 months of 2020, Vietnamese merchandise trade with trading partners in Asia was totaled USD 249.07 billion in value terms, which moved down 0.3% as compared to the same period of 2019. Trade-in-goods of Vietnam with America reached USD 80.46 billion and increased by 13.9%. The values of other continents were Europe: USD 46.86 billion, down by 4.7%; Oceania: USD 7.18 billion, up by 1% and Africa: USD 5.05 billion, down by 6% in comparison with the same period of last year.

9. For the first 9 months of 2020, 5 exporting markets of Vietnam with turnover of over USD 4 billion were: The United States of America (reached USD 54.7 billion, up by 22.6%); China (reached USD 32.5 billion, up by 14.98%); Republic of Korea (reached USD 14.5billion, down by 2.1%); Japan (reached USD 14 billion, down by 6.4%) and Hongkong (reached USD 7.5 billion, up by 45%) as compared to the same period of last year.

10. On import side, four partners exporting goods to Vietnam with turnover of over 4 billion were as follows: China (reached USD 57.6 billion, up by 4%)); Republic of Korea (reached USD 33 billion, down by 6.5%); Japan (reached USD 14.6 billion, up by 3.1%); Taiwan (reached USD 12 billion, up by 7.1%)…