Vietnam’s import value was estimated at US$211.1 billion in 2017
Monday, January 29,2018AsemconnectVietnam - Vietnam’s import value was estimated at US$211.1 billion in 2017, 20.8% higher than 2016, showed the statistics figures of the General Department of Customs.
The office said in 2017, China was the largest trading partner of Vietnam but the Southeast Asian nation had the largest trade deficit with the Republic of Korea.
China’s two-way trade with Vietnam was valued at US$93.8 billion, of which exports to China reached US$35.3 billion, up 60.6% and imports from China reached US$58.5 billion, up 16.9% year-on-year.
However, Vietnam’s trade deficit with China was estimated at US$23.2 billion, down 17.4%, being the second-largest trade deficit after that with the Republic of Korea.
Some Vietnamese commodities to China with strong exports included computers and components (up 73.5% to US$3 billion); fruits and vegetables (up 57.6% to US$1 billion); and phones and components (up 679.8% to US$5.4 billion due to higher demand).
Vietnam’s imports of machinery, tools and spare parts increased by 19% to US$1.8 billion; of phones and components by 38.2% to US$2.3 billion; and of computer, electronic products and their components by 20.3% to US$1.2 billion.
Meanwhile, the Republic of Korea was the second largest trading partner after China with US$61.8 billion in trade value, of which exports were valued at US$15 billion, up 31.1%, and imports at US$46.8 billion, up 45.5% year-on-year.
Therefore, Vietnam had the largest trade deficit with the RoK at US$31.8 billion, a year-on-year increase of 53.4%.
Vietnam’s goods gaining high export value to the Republic of Korea included telephones and components (up 48.7% to US$1.3 billion); textiles and garments (up 18.4% to US$421 million); and computers and components (up 45.1% to US$565 million).
The nation also saw rising imports of computers, electronic products and components (up 76.1% to US$6.6 billion) and machinery, equipment and spare parts (up 50.1% to US$3 billion).
The US ranked third in two-way trade with US$50.7 billion, of which export values reached the highest level of US$41.5 billion, a year-on-year increase of 8%, and import value stood at US$9.1 billion, up 4.9%, reported BizLive.
The bilateral trade value with the EU reached US$50.4 billion, including export value at US$38.3 billion, up 12.8%, and import value at US$12 billion, up 7.7%.
The trade value between Vietnam and the ASEAN market was estimated at US$49.7 billion in 2017, including export value at US$21.7 billion, up 24.5%, and import value at US$28 billion, up 16.4%.
The trade value with Japan stood at US$33.3 billion, of which export were valued at US$16.8 billion, up 14.2%, and imports at US$16.5 billion, up 9.7%.
Footwear and leather materials
Vietnam imported nearly US$ 4.55 billion worth of textile, leather and footwear materials in the first ten months of this year, increased by 8.5 per cent over the same period last year, showed the statistics figures of the General Department of Customs.
China was the country’s biggest import market of footwear and leather materials of Vietnam in the period with the import value of $ 1.7 billion, accounted for 37.4 per cent of the total and increased by 10.4 per cent over the same period last year. It was followed by South Korea with $ 628.28 million, down by 3.4 per cent; and then Taiwan - $ 416.05 million, up by 5.5 per cent; and the U.S - $ 293.54 million, up by 25 per cent.
The country’s imports of textile, garment, leather and footwear materials from EU reached $ 264.16 million, up by 7.2 per cent year – on – year and the imports from the South East Asian countries reached $ 254.9 million, up by 11 per cent.
In the first ten months of this year, Vietnam’s imports of textile, garment, leather and footwear materials from Argentina increased by 57 per cent to $ 36.84 million; to Austria – up by 44 per cent to $ 1.43 million; and to Indonesia – up by 32 per cent to $ 38.92 million. However, the imports from the Netherlands, New Zealand, Australia and Canada decreased by 24.6 per cent; 21 per cent; 20.5 per cent and 25.2 per cent over the same period last year.
Auto
Vietnam imported 77,336 autos worth of US$ 1.7 billion in the first ten months of this year, down by 11 per cent in quantity and 13 per cent in value over the same period last year, showed the statistics figures of the General Department of Customs.
In October only, the country’s imports of auto decreased by 1.7 per cent in quantity and 4.5 per cent in value to 5,838 units worth of $ 155.2 million.Thailand was the country’s biggest auto import market in the first ten months of this year with 28,889 units worth of $ 530.31 million. Indonesia ranked second with 16,120 units worth of $ 284.76 million. The imports from China reached 7.504 units worth of $ 274.61 million. Meanwhile, the imports of auto from the South East Asian countries increased by 49 per cent. In the period, the imports of autos from France fell sharply by 42 per cent year – on - year.
Animal feed and materials
Vietnam imported nearly US$ 3 billion worth of animal feed and materials in the first 11 months of this year, down b 5.45 per cent over the same period last year, showed the statistics figures of the General Department of Customs.
In the period, the country’s imports of animal feed and materials from several markets increased sharply. The imports from Italy reached over $ 60 million, up by 808.86 per cent year – on – year; from Canada – over $ 67 million, up by 534.34 per cent; from Chile – over $ 9 million, up by 86.24 per cent; and from India – over $ 130 million, up by 79.2 per cent.
In the first 11 months of this year, Argentina was the country’s biggest import markets of animal feed and materials with the imports value of $ 83 million in November and over $ 1.4 billion in the first 11 months of this year. It was followed by the U.S with over $ 38 million in November and over $ 234 million in the first 11 months; and then Brazil with over $ 26 million in November and over $ 135 million in the first 11 months.
Besides, the imports from China, India, Indonesia, Taiwan and Thailand also reached $ 146 million; $ 130 million; $ 94 million; $ 75 million and $ 70 million, respectively.
Wheat
Vietnam’s imports of wheat reached 260,000 tons worth of $ 61 million in November and 4.3 million tons worth of $ 918 million in the first 11 months of this year, down by 3.69 per cent in quantity and 3.24 per cent in value over the same period last year. The main import markets of wheat in the first 11 months of this year were Australia – accounted for 46 per cent of the total; Canada – 21 per cent; Russia – 9 per cent; Brazil – 2 per cent and the U.S – 1 per cent.
In the first 11 months of this year, the country’s imports of wheat from Canada increased by 14 times in quantity and over 10 times in value over the same period last year, while the imports from the U.S and Brazil decreased by nearly 69 per cent and 83 per cent, respectively.
Soybean
Vietnam’s imports of soybean were estimated at 95,000 tons worth of $ 42 million in November and 1.4 million tons worth of $ 632 million in the first 11 months of this year, up by 9.86 per cent in quantity and 11.08 per cent in value over the same period of 2016.
Corn
The country’s imports of corn were estimated at 792,000 tons worth of $ 149 million in November and 7.2 million tons worth of $ 1.4 billion in the first 11 months of this year, down by 2.92 per cent in quantity and 4.47 per cent in value over the same period of 2016. Argentina and Brazil were leading the list of corn import markets in the period with 53 per cent and 28 per cent of the market share, respectively. Especially, the country’s imports of corn from Thailand increased sharply by 11 times in quantity and 2 times in value compared with the same period of 2016.
Petroleum
Vietnam imported 11.69 million tons of petroleum worth of US$ 6.31 billion in the first 11 months of this year, up by 10.2 per cent in quantity and 40.5 per cent in value compared with the same period last year, showed the statistics figures of the General Department of Customs.
The petroleum import price in the first 11 months of this year was $ 539.9 per ton, up by 27.5 per cent year – on – year.
Singapore was the country’s biggest petroleum import market in the period with 4.07 million tons worth of over $ 2.02 billion, up by 9 per cent in quantity and 36 per cent in value over the same period last year.
Meanwhile, the imports from South Korea reached 2.68 million tons worth of $ 1.67 billion, up by 75 per cent in quantity and 105 per cent in value year – on – year; from Malaysia – 2.31 million tons worth of $ 1.09 million.
Cameras and camcorders
Vietnam imported US$ 6.4 billion worth of goods from the Netherlands in the first 11 months of this year, increased by 19.03 per cent over the same period last year, showed the statistics figures of the General Department of Customs.
The leading item exported by the country to the Netherlands in the period were computers, electronics and components with $ 874.9 million, down by 44.42 per cent over the same period last year and accounted for 13.6 per cent of the total. It was followed by textiles and garments with $ 533.3 million, up by 10.9 per cent; and footwear of all kinds - $ 518.5 million, down by 2.09 per cent year – on – year.
The other items exported by the country to the Netherlands in the period were seafood, rice, coffee, rubber and chemical products.
In the reviewed period, the country’s exports of means of transport and spare parts to the Netherlands increased sharply by 90.6 per cent; toys, sports equipment and spare parts – up by 77.55 per cent; rubber products – up b 53.09 per cent; and ordinary metals and products – up by 49.42 per cent.
However, the country’s exports of cell phones and accessories decreased by 87.97 per cent; and rice – down by 43.29 per cent.
Machinery, equipment, tools and spare parts
The country imported $ 2.87 billion worth of machinery, equipment, tools and spare parts in November and $ 30.74 billion in the first 11 months of this year, up by 20.7 per cent year – on - year.
The main import markets of machinery, equipment, tools and spare parts in the first 11 months of this year were China with $ 9.95 billion, up by 20 per cent year – on – year; South Korea – $ 8.03 billion, up by 55.2 per cent; and Japan - $ 3.84 billion, up by 1.1 per cent.
Computers, electronic products and components
Vietnam spent nearly $ 3.5 billion for imports of computers, electronic products and components in November and $ 34 billion in the first 11 months of this year, up by 33.9 per cent compared with the same months of 2016.
The major import markets of computers, electronic products and components in the period were South Korea with $ 13.88 billion, up by 74.5 per cent year – on – year; China - $ 6.41 billion, up by 19.3 per cent; and Taiwan - $ 3.54 billion, up by 22.5 per cent.
Fabrics of all kinds
Vietnam imported $ 1.09 billion worth of fabrics of all kinds in November and $ 10.35 billion in the first 11 months of this year, up by 8.4 per cent compared with the same months of 2016.
The main import markets of fabrics in the period were China with $ 5.52 billion, up by 11.5 per cent year – on – year; and South Korea - $ 1.84 billion, up by 4.7 per cent; and Taiwan – 1.45 billion, up by 4.9 per cent.
Cell phones and accessories
Vietnam imported over $ 1.73 billion worth of cell phones and accessories in November and $ 14.48 billion in the first 11 months of this year, up by 51.1 per cent compared with the same months of 2014.The main import markets of cell phones and accessories in the period were China with $7.63 billion, up by 38.5 per cent year – on – year; and South Korea - $ 5.6 billion, up by 68.9 per cent.
Iron and steel of all kinds
The country imported 1.19 million tons of iron and steel of all kinds worth of $ 791 million in November and 13.89 million tons worth of $ 8.26 billion in the first 11 months of this year, down by 17.4 per cent in quantity and up by 13.5 per cent in value year – on - year.
In the first 11 months of this year, the country imported 6.54 million tons of iron and steel of all kinds worth of $ 3.79 billion from China, down by 33.7 per cent in quantity and 6 per cent in value; while the imports from Japan reached 2.01 million tons worth of $ 1.27 billion, down by 13.8 per cent in quantity and up by 17.4 per cent in value.
Plastics
The import of plastics totaled 411,000 tons worth of $ 644 million in November and 4.48 million tons valued at $ 6.66 billion in the first 11 months of this year, up by 8.6 per cent in quantity and 17.4 per cent in value over the same period last year.
The country’s top import markets of plastics in the first 11 months of this year were South Korea with 819,000 tons worth of $ 1.31 billion, up by 11.1 per cent in quantity and 20.2 per cent in value year – on – year; Saudi Arabia – 874,000 tons worth of $ 1 billion, up by 2.6 per cent in quantity and 8.9 per cent in value; Taiwan – 618,000 tons worth of $ 964 million, up by 3.5 per cent in quantity and 12.6 per cent in value.
Textile, garment, leather and footwear materials
The country’s import of textile, garment, leather and footwear materials reached $ 457 million in November and $ 5 billion in the first 11 months of this year, up by 8 per cent over the same period last year.
The major import markets of textile, garment, leather and footwear materials in the first 11 months of this year were China with the import value of $ 1.88 billion, up by 10.5 per cent; Taiwan - $ 452 million, up by 4.4; South Korea - $ 692 million, down by 3.9 per cent year – on – year.
Ordinary metals
The imports of ordinary metals totaled 126,000 tons worth of $ 500 million in November and 1.38 million tons worth of $ 4.93 billion the first 11 months of this year, down by 19.4 per cent in quantity and 13.4 per cent in value over the same period last year.
The country’s major import markets of ordinary metals in the first 11 months of this year were South Korea with 297,000 tons worth of $ 805 million, up by 12.2 per cent in quantity and 37.3 per cent in value year – on – year; China – 234,000 tons worth of $ 613 million, down by 66 per cent in quantity and 51 per cent in value; and Australia 198,000 tons worth of $ 458 million, up by 14.8 per cent in quantity and 40 per cent in value.
Plastic products
The imports of plastics totaled $ 496 million in November and nearly $ 4.89 billion in the first 11 months of this year, up by 22.2 per cent year – on - year.
The country’s top import markets of plastic products in the first 11 months of this year were China with $1,71 billion, up by 26.6 per cent year – on – year; South Korea – $ 1.48 billion, up by 23.5 per cent; Japan – $ 716 million, up by 20.2 per cent.
Imports from South Korea increased nearly 47%
Vietnam’s imports of goods from South Korea totaled US$ 38.3 billion in the first ten months of this year, increased sharply by 46.7 per cent over the same period last year, showed the statistics figures of the General Department of Customs.
Meanwhile, the country’s exports of goods to South Korea increased by 28.6 per cent to $ 12.15 billion. So the country got $ 26.15 billion of deficit in trade exchange with South Korea. Computers, electronics and components were leading the list of items imported by the country from South Korea in the first ten months of this year with the import value of nearly $ 12.51 billion, accounted for 32.7per cent of the total and increased sharply by 72.3 per cent year – on – year.
Machines, equipment and spare parts ranked second with $ 7.37 billion, up by 61.8 per cent; and then cell phones and accessories - $ 4.97 billion, up by 63.8 per cent.
Besides, the imports of fabrics of all kinds reached $ 1.64 billion, up by 4.7 per cent; petroleum - $ 1.49 billion, up by 113 per cent; plastic products - $ 1.34 billion, up by 23 per cent; ordinary metals - $ 1.19 billion, up by 38.5 per cent; plastics - $ 1.18 billion, up by 20.3 per cent; and iron and steel – over $ 1 billion, up by 19.8 per cent.
In the first ten months of this year, the country’s imports of rubber increased sharply by 61 per cent year – on – year to $ 174.73 million; glass and products – up by 81 per cent to $ 64.29 million; precious stones, metals and products – up by 60 per cent to $ 42.08 million; confectionery and grain products – up by 77 per cent to $ 20.24 million; fruit and vegetables – up by 77 per cent to $ 10.76 million.
However, the imports of liquefied gas, pharmaceutical materials and autos decreased sharply by 68 per cent; 35 per cent and 42 per cent, respectively over the same period last year.
By the end of November, South Korea was leading the list of 126 countries and territories which have effective invested projects in Vietnam with the total registered capital of $ 57.5 billion.
Imports of Thai products increased sharply
Vietnam’s imports of goods from Thailand are increasing sharply. In the first ten months of this year, Vietnam got over US$ 4.55 billion of deficit in trade exchange with Thailand.
The bilateral trade exchange between Vietnam and Thailand is increasing. Thailand is now the biggest trade partner of Vietnam in ASEAN.
The two-way trade between Vietnam and Thailand reached US$ 12.4 billion in the first ten months of this year, showed the statistics figures of the General Department of Customs.
Of the figure, the country exported US$ 3.92 billion worth of goods to, and imported $ 8.48 billion worth of goods from Thailand, increased by 29 per cent and 21.4 per cent, respectively over the same period last year.
So the country has $ 4.55 billion of deficit in trade exchange with Thailand in the first ten months of this year.
The leading items imported by the country from Thailand in the first ten months of this year included household appliance and components - $ 748.59 million, down by 5.5 per cent year – on – year and accounted for 8.8 per cent of the total; machines, equipment and spare parts - $ 743.17 million, up by 13 per cent; petroleum - $ 726.15 million, up by 83.5 per cent; fruit and vegetables - $ 721.73 million, up by 120.4 per cent; CBU autos and spare parts - $ 530.31 million, up by 5.5 per cent.
In the first ten months of this year, the country’s imports of liquefied gas from Thailand rocketed by 10 folds in quantity and over 13 folds in value to 52,829 tons worth of $ 29.12 million; while the imports of corn increased by 13 folds in quantity and 3 folds in value to 153,018 tons worth of $ 50.96 million; fruit and vegetables – up by 120 per cent to $ 721.73 million; oil and grease – up by 225 per cent to $ 13.38 million; tobacco materials – up by 796.8 per cent to $ 0.4 million.
However, the imports of pharmaceutical materials from Thailand decreased sharply by 76 per cent to $ 0.79 million; auto components and spare parts – down by 25.6 per cent; milk and dairy products – down by 22.3 per cent; and ores and minerals – down by 26.5 per cent.
Source: Vitic/ Baohaiquan/ Vov
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