Preliminary assessment of Vietnam international merchandise trade performance in whole year 2020

Source: Vietnam Customs

18:55 | 02/02/2021 Customs Statistics Follow english.haiquanonline.com.vn on

Highlights 1. According to trade statistics of Vietnam Customs, in December 2020, a 11.3% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of November 2020. Exports went up 9.6 %, to USD 27.65 billion and imports increased 13%, to USD 27.90billion in terms of month-on- month basis. As a result, there was a USD 252 million deficit in Vietnam’s trade balance in this month.

2. In whole year 2020, Vietnam‘s trade-in-goods totaled US dollars 545.36 billion in value terms, 5.4% above the corresponding period of last year. As compared to result of a year earlier, total merchandise exports value rose 7%, to US dollars 282.65 billion and the total merchandise imports value increased 3.7% to US dollars 262.7 billion. Accordingly, Vietnam’s trade balance in 2020 was in the surplus of US dollars 19.95 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 38.48 billion in total for December of 2020, up by 9.6 % on month-on-month basis. FDI’s export value of USD 20.44 billion and FDI’s import value of USD 18.04 billion led to a trade surplus of USD 2.4 billion.

For Jan-December period of 2020, trade-in-goods by FDI traders totaled US dollars 371.9 billion, up by 11.8 % on year-on-year basis. Total value of FDI exportation was USD 202.89 billion, increased by 10.7%. On import side, the total value of those companies was USD 169.01 billion, up by 13.1%. As a result, FDI’s trade balance was in surplus of USD 33.87 billion.

Preliminary assessment of Vietnam international merchandise trade performance in whole year 2020 : EnglishNews : Vietnam Customs

Main Exports and Imports

4. The November of 2020 to December of 2020 increase in total merchandise exports was due to the upwards in textiles and garments (up by USD 589 million); computers, electrical products, spare-parts and components thereof (up by USD 458 million); machine, equipments, tools and instruments (up by USD 284 million);...

5. On a year-on-year basis, exports was up USD 18.29 billion, to USD 282.65 billion. The main products, which contributed to the increase, were machine, equipments, tools and instruments (up by USD 8.89 billion); computers, electrical products, spare-parts and components thereof (up by USD 8.66 billion); wood and wooden products (up by USD 1.72 billion);…

6.The November of 2020 to December of 2020 increase in total merchandise imports was due to the upwards of the commodities as follows: machine, equipments, tools and instruments (up by USD 714 million); plastics (up by USD 158 million); petroleum products (up by USD 153 million);…

7. On a year-on-year basis, imports went up USD 9.31 billion, to USD 262.7 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 12.63 billion); telephones, mobile phones and parts thereof (up by USD 2.03 billion); plastic products (up by USD 731 million); …

Trading Partners

8. In whole year 2020, Vietnamese merchandise trade with trading partners in Asia was totaled USD 352.97 billion in value terms, which moved up 4.2% as compared to the same period of 2019. Trade-in-goods of Vietnam with America was followed, which reached USD 112.02 billion and increased by 16.2%. The values of other continents were Europe: USD 63.85 billion, down by 3.1%; Oceania: USD 9.79 billion, up by 2.4% and Africa: USD 6.72 billion, down by 5% in comparison with the same period of last year.

9. For January-December period of 2020, 4 exporting markets of Vietnam with turnover of over USD 19 billion were: The United States of America (reached USD 77.1 billion); China (reached USD 48.9 billion); Japan (reached USD 19.3 billion) and Republic of Korea (reached USD 19.1 billion).

10. On import side, four partners exporting goods to Vietnam with turnover of over 16 billion were as follows: China (reached USD 84.2 billion); Republic of Korea (reached USD 46.9 billion); Japan (reached USD 20.3 billion); Taiwan (reached USD 16.7 billion).

Source: Vietnam Customs

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