Situation of exports - imports of Vietnam in May and the first 5 months of 2020

In May 2020, the export and import value was more positive than the previous month, of which exports reached 19.19 billion USD, up 9.1% (equivalent to an increase of 1.6 billion USD); import reached 18.18 billion USD, down 1.9% (equivalent to a decrease of 347 million USD).

By the end of May 2020, the total import-export turnover of the whole country reached US $ 196.89 billion, down 2.8% (equivalent to US $ 5.62 billion) compared to the same period last year. In which, export goods value is 100.21 billion USD, down by 0.9% and import is 96.67 billion USD, down by 4.6%.

The trade balance of goods in May 2020 had a surplus of US $ 1 billion. From the beginning of the year to the end of May, the country's trade balance was surplus of 3.54 billion USD.

The General Department of Customs recorded the total import-export value of foreign direct investment (FDI) enterprises in May 2020 at US $ 21.33 billion, an increase of 1% compared to the previous month, bringing export value. Imports of FDI enterprises in the 5 months / 2020 reached US $ 120.17 billion, down 6.2%, equivalent to US $ 7.95 billion compared to the same period in 2019.

In particular, the export turnover of FDI enterprises in this month reached US $ 11.9 billion, up 8% over the previous month, bringing the export value of this sector in 5 months / 2020 to US $ 65.55 billion, decreased by 6.5% over the same period last year.

In the opposite direction, the import value of FDI enterprises in May 2020 reached US $ 9.4 billion, down 6.6% compared to the previous month, bringing the import value of this sector in 5 months / 2020 to 54.62 billion USD, down 5.9% compared to 5 months / 2019.

Calculations by the General Department of Customs show that the trade balance of goods of FDI enterprises in May 2020 had a surplus of 2.45 billion USD, bringing the trade balance in 5 months from the beginning of 2020. to a surplus of $ 10.9 billion.

Import and export markets

In the five months of 2020, Vietnam's trade in goods with Asia continues to account for the highest proportion (64.2%) of the country's total import-export turnover. Import-export value in 5 months / 2020 with this market reached 126.42 billion USD, down 4.4% compared to the same period in 2019, of which export value was 50.2 billion USD, down 1.4 % and the import value was 76.21 billion USD, down 6.3%.

Vietnam's import and export of goods to the Americas reached US $ 38.56 billion, up 6.5% over the same period in 2019 and the continent achieved the highest growth rate in the first 5 months of this year.

Import-export turnover between Vietnam and other continents is: Europe: 24.35 billion USD, down 7%; Oceania: US $ 3.91 billion, up 1.9% and Africa: US $ 2.38 billion, down 7.5% over the same period in 2019.
 

Exported goods

After a sharp decline in April, the country's export value of goods returned to growth, reaching US $ 19.19 billion, up 9.1% over the previous month.
In particular, there are groups of goods with a high increase such as: phones and accessories reached 2.93 billion USD, an increase of 428 million USD corresponding to an increase of 17.1%; computers, electronic products and components reached 3.40 billion USD, up 360 million USD, equivalent to an increase of 11.9%; textiles reached US $ 1.87 billion, up US $ 257 million, up 16% ...

By the end of May 2020, the country's export value reached US $ 100.21 billion, down 0.9% from the same period last year. In which, textile and garment industry saw the strongest drop, reaching 10.56 billion USD, down 13.6%, equivalent to 1.66 billion USD. Telephones and components, although being the group with the highest export value, reached US $ 18.31 billion, but the second lowest decline, down 7.1%, equivalent to US $ 1.41 billion.

Imported goods

Merchandise imports in May 2020 were US $ 18.18 billion, down slightly by 1.9% in relative terms and down US $ 347 million in absolute terms compared to the previous month.

In May 2020, up to 34/53 major import commodity groups decreased in value compared to the previous month. In particular, the reduction is much in the group of machinery, tools and spare parts and most of the input materials for the textile, footwear, wood, plastic, steel, chemicals, ... industries.

However, imports increased highly compared to April 2020 in some commodity groups such as computers, electronic products and components, agricultural products, raw materials to produce animal feed, gasoline, and gas. burning, fertilizer, ...

In the first 5 months of 2020, Vietnam's total import value of goods reached US $ 96.67 billion, down 4.6% over the same period in 2019.

In particular, there are imports that fell sharply such as: petroleum of all kinds decreased by 19% (equivalent to 748 thousand tons) in volume, down 46% (equivalent to US $ 1.13 billion) in value; complete automobiles of all types reduced by 42.5% (equivalent to a decrease of over 27 thousand units) in volume, down 43.1% (equivalent to a decrease of US $ 616 million) in value; iron and steel of all kinds decreased 9.8% in volume (equivalent to nearly 600 thousand tons), down 17.9% (equivalent to 773 million USD) in value; machinery, equipment, tools and spare parts decreased by 6.3% (equivalent to a reduction of 935 million USD) in value ...

Phaata (Source: Vietnam Customs)