Vietnam got 900 million USD of deficit in trade exchange with Australia
Tuesday, January 21,2020AsemconnectVietnam - Vietnam has a trade deficit of 914.31 million USD in trade exchange with Australia in the first 11 months of 2019.
According to the calculations from the preliminary statistics of the General Department of Customs, in the first 11 months of 2019, the two-way import-export turnover between Vietnam and Australia reached 7.36 billion USD, up by 5.2 per cent over the same period of 2018. In particular, Vietnam's merchandise exports to Australia reached 3.22 billion USD, down by 11.5 per cent; while the country’s imports of goods from Australia reached 4.14 billion USD, up strongly by 23.3 per cent.
Therefore, Vietnam had a trade deficit of 914.31 million USD in trade exchange with Australia in the first 11 months of 2019, while in the first 11 months of 2018, Vietnam had a trade surplus of 285.49 million USD.
Of the 23 major import items from the Australian market in the first 11 months of 2019, coal was the largest import group, with the import value of 1.45 billion USD, up by 96.8 per cent over the same period last year; accounting for 35 per cent of total imports of goods from this market. The next group was ore and mineral products with the import value of 516.72 million USD, accounting for 12.5 per cent of the total, rising by 74 per cent; ordinary metal products ranked third in import value, with 465.53 million USD (accounting for 11.3 per cent of the total, down by 10.8 per cent); followed by wheat with 231.27 million USD (accounting for 5.6 per cent); and iron and steel scraps with 149.57 million USD (accounting for 3.6 per cent).
The country’s imports of goods from Australia in the first 11 months of 2019 increased sharply over the same period due to the increase in imports of key commodities, contributing to the increase of overall import turnover. Most notably, iron and steel imports from the Australian market had the strongest increase of 165.9 per cent over the same period last year, reaching 50.74 million USD. Besides, the imports of wood and wood products also increased sharply over 108 per cent, reaching 9.59 million USD; milk and milk products increased by 66.2 per cent, reaching 45.32 million USD; foodstuff increased by 63.7 per cent in value, reaching 11.82 million USD.
In contrast, the groups of imported goods which have sharply declined in value include: cotton of all kinds (down by 72.9 per cent, reaching USD 85.12 million); gas (down by 43.2 per cent, reaching 21.18 million USD).
Vietnam’s imports of goods in the first 11 months of 2019 – source: the General Department of Customs - Unit: USD
Market
|
November of 2019
|
Vs. October of 2019 (%)
|
First 11 months of 2019
|
Vs. same period of 2018 (%)
|
Percentage (%)
|
Total
|
364,957,210
|
-13.89
|
4,137,771,679
|
23.34
|
100
|
Coal of all kinds
|
103,581,307
|
-34.46
|
1,446,068,602
|
96.79
|
34.95
|
Ores and minerals
|
63,018,076
|
79.7
|
516,719,203
|
74.02
|
12.49
|
Other ordinary metals
|
47,623,265
|
-5.42
|
465,534,409
|
-10.82
|
11.25
|
Wheat
|
1,685,310
|
-93.65
|
231,266,141
|
-12.75
|
5.59
|
Iron and steel scraps
|
1,366,664
|
-92.4
|
149,572,412
|
-19.37
|
3.61
|
Fruits and vegetables
|
8,630,346
|
-27.12
|
102,750,284
|
3.14
|
2.48
|
Cotton of all kinds
|
7,262,323
|
16.54
|
85,119,435
|
-72.9
|
2.06
|
Pharmaceuticals
|
7,165,345
|
-4.67
|
58,105,492
|
15.04
|
1.4
|
Iron and steel of all kinds
|
13,044,448
|
73.08
|
50,735,839
|
165.92
|
1.23
|
Milk and dairy products
|
4,371,278
|
9.48
|
45,320,372
|
66.23
|
1.1
|
Machines, equipment, tools and spare parts
|
5,240,345
|
10.22
|
44,813,842
|
-3.88
|
1.08
|
Chemical products
|
3,067,072
|
-36.34
|
40,015,196
|
1.95
|
0.97
|
Liquefied gas
|
|
-100
|
21,183,462
|
-43.21
|
0.51
|
Animal feed and materials
|
741,136
|
66.69
|
21,077,986
|
24.52
|
0.51
|
Plastics
|
1,252,686
|
-35.23
|
17,957,866
|
-10.13
|
0.43
|
Precious stones, metals and products
|
1,795,930
|
-19.81
|
13,499,411
|
5.34
|
0.33
|
Textile, garment, leather and footwear materials
|
849,275
|
3.89
|
12,908,574
|
-27.67
|
0.31
|
Other food products
|
1,178,689
|
-26.48
|
11,818,457
|
63.72
|
0.29
|
Wood and products
|
759,409
|
27.74
|
9,590,752
|
108.05
|
0.23
|
Other oil products
|
454,590
|
48.9
|
7,001,671
|
-24.26
|
0.17
|
Oil and grease
|
467,498
|
-39.4
|
6,305,456
|
-4.05
|
0.15
|
Iron and steel products
|
78,345
|
-72.97
|
3,568,624
|
4.83
|
0.09
|
Chemicals
|
66,531
|
-55.29
|
1,431,155
|
-29.17
|
0.03
|
Others
|
91,257,341
|
23.08
|
775,407,036
|
|
18.74
|
CK
Source: VITIC
Wheat imports increased slightly in first 2 months of 2023
Steel market update: Price rises despite falling demand
Tea export value to China skyrockets
Reference exchange rate up 2 VND at week’s beginning
DAILY: Vietnamese pepper prices remained unchanged on March 27
DAILY: Vietnamese coffee prices remained unchaged on March 27
Significant efforts needed to realise 4.3-billion-USD shrimp exports
Coffee exports to Netherlands enjoy three-digit growth
Durian to make breakthrough for Vietnam's fruit exports
Corn imports decreased in first 2 months of 2023
Vietnam showing better-than-average growth: Indian expert
Vietnam works hard to boost exports to Chinese market
DAILY: Vietnamese pepper prices remained unchanged on March 24
Reference exchange rate down 15 VND
Plan on implementing Decision No. 327/QD-TTG dated March ...
Concretize viewpoints, objectives, tasks and solutions of the plan in accordance with practical conditions of the locality, associating ...Plan on implementing national environmental protection ...
Implementation plan of marine aquaculture development ...
Program on conservation and development of Vietnamese ...
Plan on improving quality of human resources to 2025 and ...
Efforts taken to turn culinary culture into national ...
The Vietnam Cuisine Culture Association (VCCA) is taking steps to implement a project to build and develop Vietnamese culinary culture ...Vietnamese cuisine making a name for itself with ...
Vietnam advance to next round of AFC U20 Women’s Asian Cup
Cultural tourism and traditional values promoted through ...