Goods export - import situation of Vietnam in June and the first 2 quarters of 2020

1. General evaluation

According to preliminary statistics of the General Department of Customs of Vietnam in June 2020, the total import and export turnover of the whole country reached USD 43.28 billion, a sharp increase of 15.8% compared to May 2020, equivalent to corresponding to an increase of USD 5.92 billion.

In June 2020, export and import value had more positive changes compared to the previous month, of which exports reached USD 22.56 billion, up 17.6% (equivalent to an increase of USD 3.38 billion); import reached USD 20.71 billion, up 14% (equivalent to an increase of USD 2.54 billion).

By the end of the second quarter of 2020, the country's total merchandise import and export turnover reached USD 240.11 billion, down 1.4% (equivalent to USD 3.29 billion) compared to the same period last year. In which, export value was USD 122.79 billion, up by 0.2% and import was USD 117.33 billion, down by 2.9%.

The balance of trade in goods in June 2020 saw a surplus of USD 1.85 billion. From the beginning of the year to the end of June, the country's trade balance saw a surplus of USD 5.46 billion, a rather high surplus compared to USD 1.7 billion of the same period in 2019.

The General Department of Customs of Vietnam recognized that the total import and export value of foreign direct investment (FDI) enterprises in June 2020 reached USD 25.25 billion, up 18.3% over the previous month, bringing the value of Import and export prices of FDI enterprises in the two quarters of 2020 reached USD 145.38 billion, down 5.5%, corresponding to a decrease of USD 8.43 billion over the same period in 2019.

In which, the export of goods of FDI enterprises in this month reached USD 14.17 billion, up 19.2% over the previous month, bringing the export value of this sector in 2 quarters / 2020 to USD 79.72 billion, down 5.6% over the same period last year.

In the opposite direction, the import value of FDI enterprises in June 2020 reached USD 11.08 billion, decreased by 5.6% compared to the previous month, bringing the import value of this sector in the 2 quarters of 2020 to reach USD 65.66 billion, down 5.3% compared to 6 months / 2019.

The calculation of the General Department of Customs of Vietnam shows that the balance of trade in goods of FDI enterprises in June 2020 had a surplus of USD 3.09 billion, bringing the trade balance in the first 6 months from the beginning of 2020 to a surplus of USD 14.06 billion.

2. Import and export market

In the two quarters of 2020, Vietnam's trade in goods with Asia continued to account for the highest proportion (65.2%) in the country's total import-export turnover. Import-export value in the 2 quarters of 2020 to this market reached USD 153.25 billion, down 0.4% over the same period in 2019, of which export value was USD 60.77 billion, down by 1.3 % and import value was USD 92.48 billion, down 4.1%.

Import and export of goods from Vietnam to the Americas reached USD 47.73 billion, up 10.3% over the same period in 2019 and is the continent with the highest growth rate in 2 quarters / 2020.

Import and export turnover between Vietnam and other continents are: Europe: USD 29.93 billion, down 5.8%; Oceania: USD 4.66 billion, up 8.2% and Africa: USD 3.05 billion, down 4.7% over the same period in 2019.

Value of export and import by continent, country block and some major markets in 2 quarters / 2020

3. Exported goods

Exports of the whole country in June 2020 reached USD 22.57 billion, sharply increased by 17.6% over the previous month.

In which, there are commodity groups with high growth such as: textile and garment group increased by USD 734 million; followed by phones and accessories with USD 718 million; computers, electronic products and components increased by USD 551 million...

By the end of June 2020, the export value of the whole country reached USD 122.79 billion, up by 0.2% over the same period last year. In which, there are 2 commodity groups with an increase of over USD 1 billion: computers, electronic products and components (up USD 3.95 billion); machinery, equipment & spare parts (up USD 2.18 billion). The commodity groups with a decrease of over USD 1 billion include: cameras, camcorders & accessories (down USD 1.07 billion); phones and spare parts (down USD 1.54 billion).

Phone types and accessories:

In June 2020, exports of telephones and components reached USD 3.65 billion, up 24.5% from the previous month, bringing the export value of this commodity group in 2 quarters / 2020 to 21, USD 95 billion, down 6.5% over the same period in 2019.

In the 2 quarters of 2020, the export of this commodity group to the EU (28 countries) reached USD 4.92 billion, up 22.3%; exports to the US market reached nearly USD 4 billion, up 5.2%; to the Chinese market reached USD 3.73 billion, up 2.4 times; to the Korean market reached USD 2.51 billion, up 6% ... over the same period last year.

Computers, electronic products & components: Export value of computers, electronic products & components in June reached USD 3.95 billion, up 16.2% MoM, bringing value Export prices of this commodity group in the two quarters of 2020 reached USD 19.47 billion, up 25.4% over the same period in 2019.

In the 2 quarters of 2020, the export of computers, electronic products and components to China reached USD 5.41 billion, up 36.4% over the same period last year; The United States reached USD 4.38 billion, up 1.9 times; markets to the EU reached USD 2.55 billion, up 5.8% ...

Textile and garment: Exports of textiles and garments in June reached USD 2.6 billion, up 39.4% from the previous month and was the group with the highest growth rate among Vietnam's main commodity groups in June compared to with May.

However, by the end of quarter 2/2020, this group's export reached USD 13.18 billion, down 12.7% over the same period last year.

In 6 months, the US is still the largest import market for textiles and garments from Vietnam with a value of USD 6.19 billion, down 11.9% over the same period last year; ranked second is Japan with USD 1.64 billion, down 7%; EU market (28 countries) ranked third with USD 1.6 billion, down 19.2% ...

Machinery, equipment, tools and other spare parts: Export of this commodity group in June 2020 reached USD 1.91 billion, up 10.6% over the previous month. By the end of June, the export value of this commodity group reached USD 10.42 billion, up 26.5% over the same period last year.

Major import markets for machinery, equipment, tools and spare parts of Vietnam in the first 6 months from the beginning of 2020 include: the United States with USD 2.93 billion, up sharply by 73.5%; to the EU (28 countries) worth USD 1.33 billion, up 29.7%; Japan with USD 809 million, up 6%; South Korea with USD 754 million, up 27.4% over the same period in 2019.

Agricultural products (including vegetables, cashew nuts, pepper, tea, coffee, rice, cassava and tapioca and rubber products)

Export of agricultural products in 2 quarters / 2020 reached USD 8.1 billion, down USD 282 million over the same period last year. In the two quarters of 2020, there were 5/8 export items in the group of agricultural products with a decrease in value compared to the same period last year, of which the biggest decrease was vegetables and fruits with USD 278 million and the strongest increase was rice USD 270 million.

In which: exports to the main market of China still fell sharply over the same period, reaching USD 2.43 billion, down over 17.1%; to the United States reached USD 841 million, up 5%; to the Philippines reached USD 737 million, up strongly by 21.1% ...

Footwear of all kinds: export of footwear of all kinds in June 2020 reached USD 1.44 billion, up 9.8% from the previous month, bringing the country's footwear export value in 2 quarters / 2020 to 8 , 13 USD billion, down 6.9% over the same period in 2019.

The United States and the EU are the two main import markets for Vietnam's footwear and footwear products in the 2 quarters / 2020 with a value and growth rate of USD 2.93 billion (down by 7.7%) and respectively USD 13 billion (down 14%). Generally, the value of footwear exported to 2 main markets reached USD 5.06 billion, accounting for 62.5% of the total export turnover of this commodity group of the country.

Wood and wood products: Export of this commodity group in the month reached USD 947 million, up 22.7% over the previous month. By the end of June, the export value of this commodity group reached USD 5.04 billion, up 3.6% over the same period last year.

Wood and wood products in 2 quarters / 2020 were mainly exported to the US markets with the value of USD 2.6 billion, up 15.3% over the same period last year; to China with USD 640 million, up 18.3%; to Japan with more than USD 600 million, down 2.7% ...

Means of transport and spare parts: exports of this commodity group in the month reached USD 570 million, up 16.2% over the previous month, bringing the export value of this commodity group in the second quarter of 2020 to USD 3.76 billion. down 11.4% over the same period in 2019.

The markets for importing means of transport and spare parts from Vietnam in the 2 quarters / 2020 include: Japan with a value of USD 1.05 billion, down 18.9%; to the United States reached USD 753 million, up 0.3%; to South Korea was worth USD 219 million, up 19.3% ...

Fishery products: export value in the month is USD 719 million, up 12.1% over the previous month, is the month with highest value from the beginning of the year up to now. The export value of this commodity group in the two quarters of 2020 is now USD 3.6 billion, down 9% compared to the same period in 2019.

Fishery products in 6 months from the beginning of 2020 are mainly exported to: Japan: USD 668 million; down 1.6%; United States: USD 654 million, up 0.5%; EU (28 countries) with USD 546 million, down 11.7%; China: USD 483 million, 1% increase… compared to the same period last year.

4. Imported goods

Imports of goods in June 2020 reached USD 20.71 billion, up 14% in relative terms and USD 2.54 billion in absolute numbers compared to the previous month.

Thus, the value of imported goods of Vietnam in the month reached the highest level since March up to now, of which, up to 39/53 main groups of imported goods increased in value compared to the previous month.

By the end of the second quarter of 2020, the total value of Vietnam's imported goods reached USD 117.33 billion, down 2.9% over the same period in 2019.

Many imported commodity groups fell sharply over the same period last year, such as assorted petroleum, down 5% in volume and 38.7% in value; CBU cars decreased by nearly half in both volume and value; auto parts and spare parts decreased by 17.3% in value; iron and steel decreased 6.2% in volume and 16.6% in value ...

In addition, imports also fell in fruit and vegetable groups, down 40.5% in value; textile, garment, leather and footwear materials and accessories decreased by 15.9% in value; machinery, equipment and spare parts decreased by 4.5% in value….

In contrast, the import of some commodity groups still increased, such as computers, electronic products & components, up 13.8% (equivalent to an increase of USD 3.3 billion); wheat increased 38.5% (equivalent to an increase of USD 131 million); glass & glass products up 30.1% (equivalent to an increase of USD 148 million); coal increased 53.8% in volume and 15% in value… compared to the same period last year.

Computers, electronic products and components: Import value of this commodity group in June 2020 was USD 5.14 billion, up 17.5% over the previous month. By the end of the second quarter of 2020, the country imported nearly USD 27.16 billion of this commodity group, up 13.8% (equivalent to an increase of USD 3.3 billion) compared to the 6 months of 2019.

Korea continues to be the largest partner to supply this commodity group to Vietnam with an import value of USD 7.88 billion in the two quarters / 2020, down 8.6% over the same period last year; followed by markets: China with USD 6.65 billion, up 14.2%. Imports from Taiwan (with USD 3.19 billion, up strongly by 31.7%) have surpassed the United States (with USD 2.28 billion, up 3.6%) to become the third market providing commodity groups.

Machinery, equipment, tools and spare parts: The total import value of this commodity group in June 2020 was USD 2.96 billion, up 15% from the previous month. Thereby, bringing the total import value of this commodity group in the two quarters of 2020 to USD 16.82 billion, down 4.5% over the same period last year. In which, FDI enterprises imported USD 8.53 billion, decreased 9.3% and domestic enterprises imported USD 8.29 billion, increased slightly by 1.1%.

China continues to be the largest market supplying this commodity group to Vietnam in 2 quarters / 2020 with a value of nearly USD 7 billion, up 3.2%; followed by the Korean markets with USD 2.94 billion, down by 8.6%; Japan with USD 2.18 billion, down 4.7% over the same period last year.

Group of raw materials and accessories for the textile and garment and footwear industry (including cotton; fabrics of all kinds; textile fibers and raw materials for garment and footwear): In June 2020, importing this commodity group is USD 1.73 billion, 4.8% higher than the previous month (USD 79.5 million respectively). However, the total import value of this commodity group in 2 quarters / 2020 was USD 10.26 billion, a sharp decrease of 15.9% (equivalent to a decrease of USD 1.94 billion) over the same period last year.

In the 2 quarters of 2020, China remained the largest market providing the group of raw materials and accessories for Vietnam's garment and textile industry, worth USD 4.93 billion, down 13%, corresponding to a decrease of USD 733 million compared to the same period last year and accounted for 48% of the total import value of this commodity group.

Petroleum: Import volume was 1.13 million tons in month, worth USD 396 million, up 49.9% in volume and 2 times in value compared to the previous month. By the end of the 2 quarters / 2020, the total amount of petroleum imported for the whole country was USD 4.3 million, down 5%, the import value was USD 1.72 billion, down 38.7% compared to 6 months / 2019.

In which, imports from Malaysia with 1.19 million tons, down 5%; from South Korea with 1.11 million tons, up slightly by 6%; from Singapore with 860 thousand tons, down 25% over the same period in 2019.

Phaata (Adapted from General Department of Vietnam Customs)

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