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Vietnam's exports and imports in 2019 were estimated at US$516.96 billion 

 Saturday, January 25,2020

AsemconnectVietnam - The country's trade turnover in 2019 were estimated at US$516.96 billion, with export turnover of goods gained US$263.45 billion, a rise of 8.1% over the previous year, of which the domestic economic sector saw a high growth rate of 17.7%, higher than the growth rate of FDI sector (4.2%), according to statistics from the General Department of Vietnam Customs.

The trade balance of goods in 2019 was estimated at trade surplus of US$9.9 billion. Export turnover of goods in December 2019 was estimated to reach US$21.8 billion, down 4.4% compared to the previous month. In the fourth quarter of 2019, merchandize export turnover gained US$68.8 billion, an increase of 7.2% over the same period in 2018 and a decline of 4.6% from the third quarter of this year. In the fourth quarter, there were 9 items with export value of more than US$1 billion, accounting for 72.4% of total export turnover.
Generally for the whole year 2019, export turnover of goods was estimated at US$263.45 billion, a rise of 8.1% over 2018, of which the domestic economic sector achieved US$82.10 billion, moving up by 17.7%, accounting for 31.2% of the total export turnover; the FDI sector (including crude oil) gained US$181.35 billion, increasing by 4.2%, accounting for 68.8% (this proportion reduced by 2.5 percentage points year-on-year). In 2019, there were 32 items with export turnover of more than US$ 1 billion, accounting for 92.9% of the total export turnover (6 items reached export turnover of over US$10 billion, taking 63.4%).
Import turnover of exports in December 2019 was estimated at US$22.8 billion, an increase of 6.8% compared to the previous month.
In the fourth quarter of 2019, import turnover achieved US$66 billion, a rise of 3.4% over the similar period in 2018 and a slight decline of 0.8% from the third quarter of this year. Generally for 2019, import turnover of goods was estimated to reach US$253.51 billion, a growth of 7% over 2018, of which the domestic economic sector gained US$108.01 billion, up 13.8%; the FDI sector achieved US$145.50 billion, up 2.5%; there were 37 import items with turnover of more than US$1 billion in 2019, representing up to 90.6% of the total import turnover (4 items reached over US$10 billion, accounting for 45.8%).
The trade balance of goods in November witnessed trade surplus of US$1.5 billion; 11 months of 2019 saw trade surplus of US$10.9 billion; December recorded an estimated surplus of US$1 billion. It was estimated to have trade surplus US$9.9 billion in 2019, of which the domestic economic sector had trade deficit of US$25.9 billion while the FDI sector (including crude oil) witnessed trade surplus of US$35.8 billion.
In 2019, service export turnover were estimated at US$16.6 billion, up 12.6% compared to that in 2018, of which travel service gained US$11.8 billion (accounting for 71.1% of the total turnover), a rise of 17.4%; transportation service achieved US$2.9 billion (accounting for 17.7%), increasing by 2.2%. Estimated service import turnover this year reached US$19.1 billion, putting up by 2.9% over the identical period last year, of which transportation service gained US$9.1 billion (accounting for 47.6% of the total turnover), increasing by 3.2%; travel service attained US$6.2 billion (making up 32.2%), increasing by 4.1%. Trade deficit of services in 2019 was US$2.5 billion, equalling 14.9% of the service export turnover.
Source: Vitic/ General Statistics Office

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