Thursday, February 27,2020 - 12:35 GMT+7  Việt Nam EngLish 

Vietnam’s exports of goods to China and South Korea in first eleven months of 2019 

 Friday, January 24,2020

AsemconnectVietnam - According to the figures of the General Department of Customs, in the first 11 months of 2019, Vietnam’s exports of goods to China decreased slightly over the same period last year.

Meanwhile, the country’s exports of goods to South Korea saw sharp increase.

Vietnam’s exports of goods to China fell slightly
Up to now, Vietnam - China bilateral trade has exceeded 100 billion USD.
According to the latest figures announced by the General Department of Customs, only in November 2019, the total import-export turnover between Vietnam and China reached more than 10 billion USD; in which, our country exported 4,234 billion USD worth of goods to and imported 6,618 billion USD worth of goods from China. Up to now, Vietnam - China bilateral trade has exceeded 100 billion USD.

In the first 11 months of 2019, the total import and export turnover of Vietnam's goods reached about 472 billion USD. With the current progress, the total import-export turnover will exceed 500 billion USD in the second half of December of 2019. In particular, the total import-export turnover between Vietnam and China reached 105.75 billion USD, the highest compared to the same period of the previous years and approximately the results of the whole 2018. With actual turnover in the last 11 months, China is still the only "hundred billion USD" trade partner of Vietnam for this year.

According to the statistics figures of the General Department of Customs, Vietnam’s exports of goods to China in the first 11 months of 2019 decreased slightly by 1.2 per cent compared to the same period last year, reaching 37.2 billion USD.
Leading in turnover was the group of computers, electronic products and components with the turnover of over 8.47 billion USD, accounting for 22.8 per cent of the total export turnover of goods of all kinds to this market, an increase of 10.7 per cent over the same period last year. Phones and components ranked second in turnover, reaching 7.36 billion USD, accounting for 19.8 per cent, down by 12.4 per cent; followed by fruits and vegetables with 2.24 billion USD, accounting for 6 per cent, down by 13.2 per cent; fibers of all kinds - 2.19 billion USD, accounting for 5.9 per cent, up by 8.6 per cent; footwear of all kinds - 1.63 billion USD, accounting for 4.4 per cent, up by 20.8 per cent.

Generally, in the first 11 months of this year, the export of most of the commodity groups to the Chinese market increased in turnover over the same period in 2018; in which the strongest increase was steel and iron group - up by 15.7 times, reaching 138.79 million USD; clinker and cement – up by 65.5 per cent, reaching 532.36 million USD; chemical products – up by 58.8 per cent, reaching 204.13 million USD.

China was Vietnam's largest agricultural export market, with up to 60 per cent of Vietnam's agricultural products exported to China through non-quota routes. In 2019, China allowed nine Vietnamese fruits to be exported officially: watermelon, jackfruit, lychee, longan, dragon fruit, banana, mango, rambutan, and mangosteen. However, the requirement that agricultural products must be stamped with traceability also causes difficulties for producers.

Vietnam’s exports of goods to South Korea increased sharply
With a growth rate of 9.07% in the first 11 months of 2019, Vietnam's exports of goods to the Korean market reached 18.25 billion USD, according to statistics figures of the General Department of Customs.
There were four commodity groups with export turnover of more than 1 billion USD, including machines, equipment and other spare parts with 1.46 billion USD, accounting for 8 per cent of the total market share, up by 29.83 per cent over the same period last year; computers, electronic products and components - 2.66 billion USD, accounting for 14.59 per cent of the total market share, up by 15.63 per cent compared to 2.3 billion USD in the first 11 months of 2018; textiles and garments accounted for 17.07 per cent of the total market share with 3.11 billion USD, up by 2.26 per cent over the same period last year.

Mobile phones and accessories occupied the highest market share were with 26.82 per cent of the total market share with 4.89 billion USD, up by 18.14 per cent over the same period last year. In addition, other goods accounted for 5.7 per cent of the market share with 1.03 billion USD.
Means of transport and spare parts saw the strongest growth of 44.56 per cent but with a small market share of 1.92 per cent, reaching only 350.73 million USD. In contrast, the group of items with the biggest drop in turnover of 73.14 per cent was glass and glass products with 25.89 million USD, accounting for 0.14 per cent of the total market share.
In November of 2019, Vietnam did not export ore and other minerals, causing export turnover of this commodity group in the first 11 months of 2019 to decrease by 52.43 per cent over the same period last year to 5.68 million USD. Crude oil was also not exported in November to the Korean market, however, this commodity group still saw a growth of 33.77 per cent in the first 11 months of 2019 to reach 134.85 million USD.
CK
Source: VITIC

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