Preliminary assessment of Vietnam international merchandise trade performance in August and the 8 months of 2014

Highlights
1.  According to trade statistics of Vietnam Customs, in August of 2014, a 1.6%  fall  in total external merchandise turnover of Vietnam (which reached US dollars 25.47 billion) was recorded as compared to the result of a month earlier. In which, exports were up 2.8%, to US dollars 13.27 billion and imports were down 5.9%, to US dollars 12.2 billion. As a result, there was a US dollars 1.07 billion surplus in Vietnam’s trade balance in this month.

2. From the beginning of 2014 to August of 2014, Vietnam‘s trade-in-goods totaled US dollars 191.36 billion in value terms, 12.5% higher than the corresponding period of 2013. From July, 2013 to July, 2014 the total merchandise exports value rose 14.4%, to over US dollars 97.23 billion and the total merchandise imports value went up 10.7%, to US dollars 94.16 billion. Accordingly, Vietnam’s trade balance in the 8 months (January-August) of 2014 was in the surplus of US dollars 3.07 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 over US dollars 112.47 billion in total for the 8 months of 2014, up by 12.9 % as compared to the result of the corresponding period of 2013. Total value of FDI exportation was US dollars 59.64 billion, expanded by 15.7%. On import side, the total value of those companies was over US dollars 52.83 billion, rose by 9.8%.
 

Main Exports and Imports            
4. The July to August of 2014 increase in total merchandise exports reflected upturns in  computers, electrical products, spare- parts and components thereof (up by US dollars 65 million); telephones, mobile phones and parts thereof (up by US dollars 63 million); wood and wooden products (up by US dollars 59 million); fishery products (up by US dollars 40 million)…
From August of 2013 to August of 2014, a US dollars 12.24 billion increase in total exports value was due to the upturns of the following commodities: textiles and garments (up by US dollars 2.2 billion); telephones, mobile phones and parts thereof (up by US dollars 1.8 billion); foot-wears (up US dollars 1.2 billion); fishery products (up by US dollars 1 billion); other means of transportation, parts and accessories thereof (up by US dollars 846 million)…
5.  The July to August of 2014 decrease in total imports of merchandise turnover reflected downturns in import value of the following commodities:  petroleum products (down by US dollars 321 million); machine, equipment, tools and instruments (down by US dollars 173 million); fabrics (down by US dollars 117 million)…
For January-August period of 2014, an expansion in import value of the commodities, which led to August of 2013 to August of 2014 growth in total value of imports, were as follows:  machine, equipment, tools and instruments (up by US dollars 2.48 billion); textile, leather and foot-wears materials and auxiliaries group (up by US dollars 1.6 billion); petroleum products (up by US dollars 1.04 billion)...
 
Trading Partners
6. In the 8 months of 2014, Vietnamese merchandise trade with trading partners in Asia was totaled US dollars 126.1 billion in value terms, which moved up 10.8%  as compared to the same period of one year before. Trade-in-goods of Vietnam with America was followed, which reached US dollars 30.00 billion and increased by 24.9%. The values of other continents were: Europe: US dollars 27.63 billion, up by 6.8%; Oceania: US dollars 4.68 billion, up by 30.4% and Africa: US dollars 3.03 billion, up by 8.6% in comparison with the corresponding period of 2013.
7. Regarding the following Chart, the United States of America was the biggest destination of Vietnamese products with the total value of US dollars 18.5 billion in the 8 months of 2014; China was the second biggest one; and then Japan, Republic of Korea, Germany…
 
8. On import side, China was the biggest partner exporting goods to Vietnam with the value of US dollars 27.2 billion from the beginning to August of 2014, and then: Republic of Korea, Japan, Taiwan, Singapore, Thailand, United States of America …