Vietnam’s import and export in June and the first two quarters of 2020

General assessment

According to preliminary statistics of the General Department of Customs in June 2020, the total import-export turnover of the whole country reached US $ 43.28 billion, a sharp increase of 15.8% compared to May 2020, equivalent to increased by 5.92 billion USD

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

Figure 1: Value and growth rate of merchandise exports of the whole country in the 2 quarters / 2020 period 2015-2020

Source: General Department of Customs

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

The trade balance of goods in June 2020 had a surplus of US $ 1.85 billion. From the beginning of the year to the end of June, the country’s trade balance had a surplus of US $ 5.46 billion, which is a quite high surplus compared to US $ 1.7 billion of the same period in 2019.

The General Department of Customs recorded the total import-export value of foreign direct investment (FDI) enterprises in June 2020 to US $ 25.25 billion, up 18.3% over the previous month, bringing the value of Import-export prices of FDI enterprises in the two quarters / 2020 reached US $ 145.38 billion, down 5.5%, equivalent to US $ 8.43 billion compared to the same period in 2019.

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

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

Calculations by the General Department of Customs showed that the trade balance of goods of FDI enterprises in June 2020 had a surplus of 3.09 billion USD, bringing the trade balance in the 6 months from the beginning of 2020. to a surplus of $ 14.06 billion.

Import and export market

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

Vietnam’s import and export of goods to the Americas reached US $ 47.73 billion, up 10.3% over the same period in 2019 and the continent achieved the highest growth rate in the 2 quarters / 2020 now.

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

Export

The country’s export in June 2020 reached US $ 22.57 billion, a sharp increase of 17.6% over the previous month.

In particular, there are groups of goods with high growth rates such as textile products up 734 million USD; followed by mobile phones and accessories with 718 million USD; computers, electronic products and components increased by 551 million USD …

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

Figure 4: Export value by month of 2018-2019 and 6 months of 2020

source: General Department of Customs

Phones of all kinds and components:

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

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

Computers, electronic products & components:

Export value of computers, electronic products & components in June reached US $ 3.95 billion, up 16.2% over the previous month, bringing the value Export price of this commodity in the 2 quarters / 2020 reached US $ 19.47 billion, up 25.4% over the same period in 2019.

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

Textiles and garments: Textile and apparel export in June reached US $ 2.6 billion, up 39.4% over the previous month and was the group with the highest increase among Vietnam’s key commodity groups in June. with May.

However, by the end of the second quarter of 2020, exports of this group reached US $ 13.18 billion, down 12.7% over the same period last year.

In 6 months, the US remained the largest textile and garment import market from Vietnam with a value of 6.19 billion USD, down 11.9% over the same period last year; Japan ranked second with US $ 1.64 billion, down 7%; EU market (28 countries) ranked third with 1.6 billion USD, down by 19.2% …

Machinery, equipment, tools and other spare parts:

Exports of this commodity group in June 2020 reached US $ 1.91 billion, up 10.6% over the previous month. By the end of June, the export value of this commodity group reached US $ 10.42 billion, up 26.5% over the same period last year.

Import markets of machinery, equipment, tools and spare parts of Vietnam in the first 6 months from 2020 mainly include the US with 2.93 billion USD, a sharp increase of 73.5%; to the EU (28 countries) reaching a value of 1.33 billion USD, up 29.7%; Japan with 809 million USD, increasing 6%; South Korea with US $ 754 million, up 27.4% over the same period in 2019.

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

Export of agricultural products in the two quarters / 2020 reached US $ 8.1 billion, down US $ 282 million from the same period last year. In the second quarter 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 strongest decrease was US $ 278 million for vegetables and the strongest increase was 270 million for rice. USD. o: p>

In particular: exports to the main market of China still decreased sharply over the same period, reaching 2.43 billion USD, down more than 17.1%; to the United States reached 841 million USD, up 5%; to the Philippines reached 737 million USD, up sharply by 21.1% …

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

The United States and the EU are the two main import markets of Vietnam’s footwear products in the two quarters of 2020 with the value and growth rate of 2.93 billion USD (down 7.7%) and 2, 13 billion USD (down 14%). Overall, the value of footwear exports to the two main markets reached US $ 5.06 billion, accounting for 62.5% of the country’s total export turnover of this commodity group. (write off)

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

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

Means of transport and spare parts: Export turnover of this commodity group in July reached US $ 570 million, up 16.2% over the previous month, bringing the export value of this commodity group in the two quarters / 2020 to US $ 3.76 billion, decreased by 11.4% over the same period in 2019.

Markets importing vehicles and spare parts from Vietnam in the two quarters of 2020 include: Japan with a value of US $ 1.05 billion, down 18.9%; to the United States reached 753 million USD, up 0.3%; to Korea reached 219 million USD, up 19.3% …

Seafood products: Export value in the month was US $ 719 million, up 12.1% over the previous month, the highest value month since the beginning of the year. Export value of this commodity group in the 2 quarters / 2020 now reaches US $ 3.6 billion, down 9% compared to the same period in 2019.

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

Imported goods

Merchandise imports in June 2020 reached US $ 20.71 billion, up 14% in relative terms and up US $ 2.54 billion in absolute terms over the previous month.

Thus, the import value of Vietnam in the month reached the highest level since March, of which, 39/53 of the main import groups increased in value over the previous month.

By the end of the second quarter of 2020, Vietnam’s total import value of goods reached US $ 117.33 billion, down 2.9% over the same period in 2019.

Many import commodity groups decreased sharply over the same period last year, such as petroleum of all kinds, down 5% in volume and 38.7% in value; CBU cars of all kinds decreased nearly ½ in both quantity and value; auto parts and components decreased by 17.3% in value; iron and steel of all kinds decreased 6.2% in volume and 16.6% in value …

Besides, imports also decreased in the group of vegetables and fruits down 40.5% in value; textile and footwear materials and accessories decreased by 15.9% in value; machinery, equipment, tools and spare parts decreased by 4.5% in value….

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

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

South Korea continues to be the largest partner supplying this group to Vietnam with import value in 2 quarters / 2020 of US $ 7.88 billion, down 8.6% over the same period last year; followed by the markets: China with 6.65 billion USD, up 14.2%. Imports from Taiwan (with 3.19 billion USD, a sharp increase of 31.7%) have surpassed the United States (with 2.28 billion USD, up 3.6%) to become the 3rd market supplying the commodity group. this for Vietnam.

Machinery, equipment, tools, spare parts: The total import value of this commodity group in June 2020 was 2.96 billion USD, up 15% over the previous month. Thereby, raising the total import value of this group in the 2 quarters / 2020 to US $ 16.82 billion, down 4.5% compared to the same period last year. In which, FDI enterprises imported 8.53 billion USD, down 9.3% and domestic enterprises imported 8.29 billion USD, up slightly by 1.1%.

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

Group of raw and auxiliary materials for the textile and footwear industry (including cotton of all kinds; fabrics of all kinds; fiber and textile textile materials and accessories): In June 2020, imports of this commodity group were 1.73 billion USD, up 4.8% compared to the previous month (equivalent to an increase of 79.5 million USD). However, the total import value of this commodity group in the 2 quarters / 2020 was 10.26 billion USD, a sharp decrease of 15.9% (equivalent to a decrease of 1.94 billion USD) compared to the same period last year.

In the second quarter of 2020, China remained the largest market supplying raw materials and accessories for the textile and footwear industry for Vietnam, reaching a value of US $ 4.93 billion, down 13%, equivalent to a reduction of VND733 million. USD compared to the same period last year and accounts for 48% of the total import value of this commodity group.

Petrol and oil of all kinds: Imports in the month were 1.13 million tons, valued at US $ 396 million, up 49.9% in volume and doubled in value compared to the previous month. By the end of the two quarters / 2020, the total import volume of petroleum in the country was 4.3 million tons, down 5%, the import value was US $ 1.72 billion, down 38.7% compared to the first 6 months of 2019. .

In particular, imports from Malaysia with 1.19 million tons, down 5%; from South Korea with 1.11 million tons, a slight increase of 6%; from Singapore with 860 thousand tons, down 25% over the same period in 2019.

————————- Source: Vietnam General Department of Customs ——————————-