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  • Import-export turnover between Vietnam – US in the first 6 months of 2020
 

Import-export turnover between Vietnam – US in the first 6 months of 2020

by Vivian / Thursday, 06 August 2020 / Published in Vietnam - USA

Despite many negative impacts due to Covid-19, in the first 6 months of 2020, the import-export situation between Vietnam and the US still showed positive signs of growth.

The US is still Vietnam’s largest export market with a turnover of 31.5 billion USD, up 14.64% over the same period last year. At the same time, import turnover from the US also reached more than 7 billion USD, up 2.01% over the same period last year.

1.The situation of exporting goods from Vietnam to the US:

In the first half of the year, the six largest export commodity groups to this market reached over billion USD in turnover: textiles and garments reached  6.19 billion USD (19.64%); Computers, electronic products and components reached 4.38 billion USD (13.92%); Telephone and accessories reached 3.97 billion USD (12.59%); Machinery, equipment, tools and other spare parts reached 3.77 billion USD (11.96%); Footwear of all kinds reached 2.93 billion USD (9.31%); Wood and wooden products reached 2.6 billion USD (8.27%).

The major export commodity groups to the US such as textiles, garments, agriculture – aquatic products – seafood, computers, phones … all have large numbers and rich categories.

The export structure changes in the direction of increasing the group of processed and manufactured goods, gradually increasing the added value. Among the 6 groups mentioned above, 3 groups with turnover growth over the same period are: computers, electronic products and components (+ 91.08%); Other machines, equipment, tools and spare parts (+ 82.42%); Wood and wood products (+ 15.34%).

The United States is the world’s leading market for textile and footwear products. With export turnover to the US growing quite 53.77% in June but all 6 months of this commodity decreased by 11.89% compared to the same period in 2019.

In the context of the great impact of the Covid-19 pandemic, the overall import-export activities between the two countries still saw optimistic growth. Some items of Vietnam exported to the US increased sharply such as toys, sports equipment and parts reaching 559.18 million USD (+ 126.91%); Electrical wires and cables reached USD 240.17 million (+ 100.86%); Animal feed and materials reached 46.98 million USD (+ 181.81%) …

For agricultural products, right after receiving the action plan of the Ministry of Industry and Trade, the Vietnam Trade Office in the United States has implemented measures to support businesses and trade promotion for specific commodity groups such as vegetables, fruits and fruits that have been granted import permits by the US such as: dragon fruit, litchi, and rambutan. At the same time, continue to request the US to accelerate the process of considering and granting import permits for grapefruit. Export turnover of fruits and vegetables in the first two quarters of 2020 reached US $ 76.97 million, up 9.81% over the same period last year.

The situation of exporting Vietnamese goods to the US by commodity

(Source: General Department of Vietnam Customs)

Unit: USD

Commodity June/2020 Compared with May/2020 (%) The first 6 months of 2020 Compared with 2019 (%) Density 6 months of 2020 (%)
Total export turnover 6.417.759.873 30,84 31.503.553.182 14,64 100
Textiles 1.346.832.851 53,77 6.187.155.033 -11,89 19,64
Computers. electronic products and components 903.090.815 11,43 4.384.841.676 91,08 13,92
Phones of all kinds and components 576.299.316 44,79 3.966.861.067 -5,18 12,59
Machinery. equipment and other spare tools 834.138.885 17,75 3.766.813.755 82,42 11,96
Footwear 504.966.885 14,72 2.934.206.369 -7,71 9,31
Wood and wood products 590.903.487 42,04 2.604.717.776 15,34 8,27
Means of transport and spare parts 128.038.188 3,91 752.917.916 0,33 2,39
Seafood 163.465.073 51,43 653.621.917 0,55 2,07
Bags. wallets. suitcases. umbrellas. umbrellas 112.520.932 44,56 601.534.880 -21,4 1,91
Toys, sports equipment and parts 143.562.718 97,12 559.179.326 126,91 1,77
Cashew 72.599.649 -18,49 523.365.950 8,99 1,66
Products from plastic 87.948.749 18,81 429.198.479 48,55 1,36
Products from iron and steel 47.509.418 0,72 269.103.579 -17,04 0,85
Other common metals and products 43.581.086 13,92 246.257.879 14,72 0,78
Wires and cables 42.896.134 -23,31 240.170.326 100,86 0,76
Paper and paper products 23.440.259 -31,89 148.970.964 48,15 0,47
Coffee 18.753.600 -15,4 142.958.839 -2,8 0,45
Precious stones, precious metals and products 35.991.602 717,35 127.436.393 -31,52 0,4
Products from rubber 18.407.643 21,58 97.859.253 11,86 0,31
Rattan, bamboo, rush and carpet products 20.721.072 37,45 88.913.509 47,5 0,28
Steels 11.830.103 15,48 86.654.692 -60,94 0,28
Cameras,camcorders and components 20.850.093 43,71 79.153.585 96,72 0,25
Vegetable 14.902.050 16,79 76.971.677 9,81 0,24
Pepper 9.888.717 -18,62 71.429.158 -7,53 0,23
Ceramic products 6.738.169 19,68 54.827.005 17,96 0,17
Textile,garment, leather and footwear materials 11.586.933 32,15 49.783.069 62,02 0,16
Animal feed and raw materials 11.141.495 19,19 46.985.439 181,81 0,15
Confectionery and cereal products 10.090.285 0,1 46.608.546 49,99 0,15
Fabric blinds. other technical fabrics 3.733.384 96,04 40.724.102 -61,86 0,13
Fibers and yarns of all kinds 6.568.349 25,39 33.766.268 15,55 0,11
Glass and glass products 5.644.663 65,97 31.968.037 8,72 0,1
Crude oil 22.778.607 0,07
Chemical products 5.175.906 19,55 21.784.219 26,91 0,07
Chemical 2.168.307 -8,08 14.521.495 -17,42 0,05
Rubber 2.161.899 146,94 14.323.623 -19,33 0,05
Rice 2.265.659 -3,6 7.634.044 56,11 0,02
Tea 605.649 58,04 3.618.009 7,75 0,01
Other commodity 576.739.850 54 2.073.936.720 60,12 6,58

2.The situation of importing goods from USA to Vietnam:

Computers, electronic products and components are mainly imported from the US with a turnover of 2.28 billion USD, accounting for 32.39% of the total import turnover (7.04 billion USD). of the country in the first half of the year. This is also the only item worth USD billion.

There are 12 groups reaching a turnover of hundred million USD when importing goods from this market. In which, 2 groups with value of over 500 million USD, namely: Cotton of all kinds reached 813.11 million USD (capturing 11.55% of market share); Other machines, equipment, tools and spare parts reached 521.07 million USD (capturing 7.4% market share).

Some items with quite lower turnovers such as: Food and raw materials reached 233.03 million USD (-28.33%); Textile, garment, leather and footwear materials reached USD 201.85 million (-22.54%); Means of transport and spare parts reached 105.47 million USD (-46.04%) …

The items with turnover growth over the same period are: Soybeans reached 196.37 million USD (+ 33.87%); Vegetable and fruit products reached 148.39 million USD (+ 27.54%); Pharmaceuticals reached 126.72 million USD (+ 53.01%) …

The situation of importing Vietnamese goods to the US by commodity

(Source: General Department of Vietnam Customs)

Unit: USD

Commodity June 2020 Compared with May 2020 (%) The first 6 months of 2020 Compared with 2019 (%) Density 6 months of 2020 (%)
Total import turnover 1.058.102.821 -13,68 7.042.508.336 2,01 100
Computers, electronic products and components 376.308.309 -0,79 2.281.051.662 3,66 32,39
Cotton of all kinds 119.800.945 -20,13 813.106.150 -16,86 11,55
Machinery, equipment, tools and other spare parts 80.276.711 4,15 521.071.017 1,42 7,4
Plastic materials 53.324.781 -1,76 380.641.280 1,38 5,4
Animal feed and raw materials 38.949.560 -35,26 233.033.531 -28,33 3,31
Textile, garment, leather and footwear materials 24.321.390 -22,26 201.849.484 -22,54 2,87
Soybean 22.662.809 16,98 196.369.602 33,87 2,79
Chemical products 28.216.046 -0,58 185.581.926 3,68 2,64
Wood and wood products 29.174.448 6,52 169.663.381 -0,85 2,41
Vegetable goods 23.435.431 4,04 148.393.026 27,54 2,11
Medicine 14.936.423 -26,96 126.716.983 53,01 1,8
Other food preparations 18.377.628 -28,87 115.805.255 -12,55 1,64
Other means of transport and spare parts 6.303.520 -84,68 105.473.558 -46,04 1,5
Milk and milk products 13.239.091 -24,9 95.198.166 34,33 1,35
Chemistry 19.160.915 32,49 86.326.478 -8,34 1,23
Iron and steel scrap 12.128.322 -6,25 84.994.843 -40,43 1,21
Products from plastic 9.778.675 -0,21 73.098.506 24,13 1,04
Wheat 5.656.630 -70,18 57.140.768 30212,44 0,81
Seafood 5.927.012 -13,31 35.569.285 -24,23 0,51
Products from iron and steel 4.760.285 -9,25 35.310.357 6,99 0,5
Aromatic substances, cosmetics and toilet preparations 6.413.962 -3,36 34.100.963 9 0,48
Glass and glass products 3.341.766 77,73 23.834.440 -26,49 0,34
CBU cars of all kinds 2.105.012 -51,47 21.900.809 -11,19 0,31
Rubber 3.570.108 64,24 17.971.590 6,64 0,26
Other products from petroleum 2.880.281 163,81 17.970.297 75,21 0,26
Other common metals 1.359.197 -62,34 16.442.159 130,8 0,23
Fabrics of all kinds 2.698.484 -26,84 15.302.580 3,6 0,22
Wires and cables 3.883.039 132,38 12.560.141 126,03 0,18
Paper types 1.546.976 -30,2 12.128.722 -2,93 0,17
Products from other common metal 984.616 -13,56 10.859.288 -25,54 0,15
Products from rubber 1.445.520 -8,55 9.990.161 3,98 0,14
Ores and other minerals 1.375.297 53,39 9.549.501 -28,25 0,14
Car components, spare parts 846.734 -45,6 9.524.271 8,57 0,14
Pesticides and raw materials 902.392 -35,61 6.959.240 38,17 0,1
Iron and steel of all kinds 761.402 -41,19 6.831.153 -18,42 0,1
Tobacco raw materials 930.261 -38,5 6.573.680 -51,11 0,09
Fertilizers of all kinds 545.125 -76,46 6.407.526 71,84 0,09
Paper products 974.285 -24,87 5.464.038 10,55 0,08
Cameras, camcorders and components 1.761.948 229,97 4.786.587 -54,26 0,07
Confectionery and cereal products 306.067 -76,4 4.323.661 -14,52 0,06
Precious stones, precious metals and products 1.171.883 240,29 4.303.262 -24,98 0,06
Animal and vegetable fats and oils 672.518 37,25 3.587.303 6,47 0,05
Phones of all kinds and components 38.266 -98,13 2.535.105 46,35 0,04
Other goods 110.848.747 -29,68 832.206.600 61,31 11,82

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