AsemconnectVietnam - Vietnam’s total import and export revenue in the first 7 months of this year reached US$266.17 billion, increased by 13.5 per cent or $31.74 billion compared with the same period last year, showed the statistics figures of the General Department of Customs.

Of the figure, the import and export revenue of the FDI enterprises reached $172 billion, up by 13.3 per cent or $20.24 billion while the import and export revenue of the domestic enterprises reached $94.17 billion, up by 13.9 per cent or $11.5 billion compared with the same period last year.By the end of July, the country’s total export turnover reached $134.51 billion, increased by 16 per cent or $18.6 billion compared with the same period of 2017.Meanwhile, the import value reached $131.66 billion in the first 7 months of this year, increased by 11.1 per cent or $13.14 billion compared with the same period of 2017.

The import value of the FDI enterprises in the first 7 months of this year reached $77.81 billion, up by 10.4 per cent compared with the same period last year and accounted for 59.1 per cent of the total.

Import

Animal feed and materials decreased by 37.58 per cent in July

Vietnam imported US$232 million worth of animal feed and materials in July, decreased by 37.58 per cent over the previous month and but up by 7.11 per cent over the same month of last year, showed the statistics figures of the General Department of Customs.In July, Vietnam’s imports of animal feed and materials from Argentina reached $53 million, decreased sharply by 27.24 per cent compared with the previous month and by 55.76 per cent over the same month of last year. The figure brought the country’s total imports of animal feed and materials from Brazil in the first seven months of this year to over $ 700 million, accounted for 31.7 per cent of the total market share. 

It was followed by the U.S with over $48 million in July, down by 27.26 per cent month – on – month and up by 612.78 per cent over the same month of last year. The figure brought the country’s total imports of animal feed and materials from the U.S in the first seven months of this year to over $369 million, up by 111.15 per cent year – on – year.

 Meanwhile, the imports animal feed and materials from China reached over $22 million in July, up by 2.92 per cent month – on – month and by 68.77 per cent year – on – year. The total imports of animal feed and materials from China in the first seven months of this year reached over $134 million, increased by 50.98 per cent year – on – year. 

 In the first seven months of this year, Vietnam spent over $ 2.2 billion on importing animal feed and materials, up by 11.11 per cent over the same period last year.In the period, the country’s imports of animal feed and materials from Brazil reached $294 million, increased by 01.31 per cent; from Belgium - $20 million, up by 155.93 per cent; from the U.S – over $369 million, up by 111.15 per cent; and from Chile – nearly $10 million, up by 79.87 per cent year – on – year. 

Wheat increased by 15.84 per cent in value in the first 7 months

Vietnam’s imports of wheat were estimated at 344,000 tons worth of $84 million in July and over 3 million tons worth of $737 million in the first 7 months of this year, increased by 1.06 per cent in quantity and by 15.84 per cent in value compared with the same period of 2017.The leading wheat import markets in the first 7 months of this year were Russia with the market share of 49 per cent; Australia – 27 per cent; Canada – 10 per cent; the U.S – 5 per cent and Brazil – 2 per cent of the total.In the first 7 months of this year, the imports of wheat from Russia increased by over 27 times in quantity and over 31 times in value, while the imports from the U.S increased by over 17 times in quantity and over 16 times in value.

 Soybean decreased by 0.74% in the first 7 months

Vietnam’s imports of soybean reached 179,000 tons worth of over $79 million in July and over 1 million tons worth of $445 million in the first 7 months of this year, decreased by 0.74 per cent in quantity and increased by 0.55 per cent in value compared with the same period of 2017.

 Corn increased by 28.65% in the first 7 months

The imports of corn reached over 563,000 tons worth of $122 million in July and nearly 5.4 million tons worth of $1.1 billion in the first 7 months of this year, increased by 28.65 per cent in quantity and 30.86 per cent in value compared with the same period of 2017.Argentina and Brazil were the leading soybean import markets of Vietnam in the first 7 months of this year with 49 per cent and 9 per cent of the total market share, respectively.Especially, in the first 7 months of this year, the imports of corn from Thailand decreased sharply, both in quantity and in value compared with the same period last year. 

Petroleum increased 31.9 per cent in value in the first 7 months

Vietnam imported 7.8 million tons of petroleum worth of US$5.16 billion in the first 7 months of this year, increased by 3.4 per cent in quantity and 31.9 per cent in value over the same period last year, showed the statistics figures of the General Department of Customs.In July, the country’s imports of petroleum decreased by 41.7 per cent in quantity and 41.8 per cent in value month – on – month to 820,439 tons worth of $558.08 million. The figure was down by 30.6 per cent in quantity and 4.7 per cent in value compared with the same month of last year.

The average petroleum import price was at $680.2 per ton in July and $661.5 per ton in the first seven months of this year.Malaysia was the country’s biggest petroleum import markets in the first seven months of this year with 2.23 million tons worth of $1.38 billion, increased by 49.3 per cent in quantity and 102.3 per cent in value compared with the same period last year, and accounted for 28.6 per cent of the total.

South Korea followed with 1.97 million tons worth of $1.42 billion, up by 14.5 per cent in quantity and 37.5 per cent in value year – on – year; Singapore – 1.81 million tons worth of $1.15 billion, down by 40.8 per cent in quantity and 22.7 per cent in value; China – 895,197 tons, up by 48.5 per cent; Thailand – 619,739 tons, up by 9.2 per cent; Russia – 60,361 tons, up by 144.3 per cent; and Hong Kong (CN) – 102 tons.  

In the first seven months of this year, Vietnam’s imports of petroleum from Russia increased sharply by 144.3 per cent in quantity and 262.8 per cent in value to 60,361 tons worth of $51.24 million. Meanwhile, the imports of petroleum from Malaysia, China, Thailand, and South Korea also increased by 102.3 per cent; 99.2 per cent; 45.7 per cent; and 37.5 per cent over the same period last year.

Import of iron and steel totaled US$2.77 billion

Vietnam imported 8.05 million tons of iron and steel of all kinds worth of US$5.8 billion in the first seven months of this year, down by 10.5 per cent in quantity but up by 10.7 per cent in value over the same period last year, showed the statistics figures of the General Department of Customs.

In July, the country imported 1.18 million tons of iron and steel worth of $879.37 million, down by 2.6 per cent in quantity but up by 0.1 per cent in value over the previous month. The figure was up by 7.4 per cent in quantity and 38.9 per cent in value year – on – year.
The country’s imports of iron and steel from China accounted for 48 per cent of the total with 3.88 million tons worth of $2.77 billion, down by 13.5 per cent in quantity but up by 10 per cent in value over the same period last year.The imports from Japan reached 1.29 million tons worth of $909.15 million, down by 1 per cent in quantity but up by 16.8 per cent in value over the same period last year.Meanwhile, the imports from South Korea reached 1.05 million tons worth of $852.14 million, up by 6.9 per cent in quantity and 23.4 per cent in value.The imports from Taiwan increased slightly by 1 per cent in quantity and 22.1 per cent in value to 0.89 million tons worth of $586.38 million.

In the first seven months of this year, Vietnam’s imports of iron and steel from Austria increased sharply by 151.8 per cent in quantity and 474.6 per cent in value to 909 tons worth of $ 6.18 million. The imports from Denmark increased sharply by 723.9 per cent in quantity and 146.9 per cent in value to 552 tons worth of $0.42 million; from Russia – up by 84.8 per cent in quantity and 12.4 per cent in value to 251,122 tons worth of $141.32 million; from Sweden – up by 111.7 per cent in quantity and 64 per cent in value to 4,223 tons worth of $8.89 million. 

However, the country’s imports of iron and steel from Ukraine decreased by 95 per cent in quantity and 88.9 per cent in value year – on – year to 24 tons worth of $0.03 million; from Poland – down by 83.6 per cent in quantity and 82.9 per cent in value to 73 tons worth of $0.13 million; from Mexico – down by 69.5 per cent in quantity and 75.9 per cent in value to 242 tons worth of $0.19 million; and from South Africa – down by 61.8 per cent in quantity and 56.5 per cent in value.

Seafood increased sharply

Vietnam imported US$ 1.01 billion worth of seafood in the first seven months of this year, increased by 30.8 per cent over the same period last year, showed the statistics figures of the General Department of Customs. In July, the country’s imports of seafood reached $146.55 million, down by 10.3 per cent over the previous month but up by 22.5 per cent over the same month of last year.

India, Norway, the South East Asian countries, Taiwan, China and Japan were the country’s leading seafood imports markets in the period.The imports of seafood from India accounted for 22.9 per cent of the total with $231.15 million, up by 13.6 per cent over the same period last year. Meanwhile, the imports from Norway reached $102.22 million, up by 65.6 per cent; from the South East Asian countries - $79.86 million, up by 54.9 per cent; from China - $66.16 million, down by 2.8 per cent; from Japan - $64.05 million, up by 51.4 per cent; and from Taiwan - $62.71 million, up by 21.6 per cent.

In the first 7 months of this year, Vietnam’s imports of seafood from Myanmar, Denmark and China fell by 29.3 per cent; 15.1 per cent and 2.8 per cent, respectively year – on – year.The imports of seafood from Canada saw sharp increase of 126.5 per cent to $23.66 million; from Indonesia – up by 88.7 per cent to $48.49 million; from Malaysia – up by 88.1 per cent to $4.18 million; from South Korea – up by 80.1 per cent to $47.3 million; from Chile – up by 76.5 per cent to $46.06 million; and from the Philippines – up by 69.6 per cent to $5.18 million.

Export

 Farm exports increased in first seven months

According to the Processing and Market Development Authority (AgroTrade) under the Ministry of Agriculture and Rural Development, Vietnam exported $11.6 billion worth of farm produce from January to July, up 3.6 percent against the same period last year.

Markets seeing strong export growth included Indonesia in rice, coffee, and rubber; Russia in coffee and cashew nuts; Germany in tea, cashew nuts, pepper, and rubber; Malaysia in rice, tea, wood, vegetables and fruit; the Philippines in rice and coffee; Saudi Arabia in tea; Iraq and Hong Kong in rice; the US in tea, cashew nuts, and pepper; India in rubber and pepper; and Thailand in vegetables and fruit, and aquatic products.

Rice: Vietnam exported 3.93 million tons of rice worth of US$1.99 billion in the first seven months of this year, increased by 13.7 per cent in quantity and 30.5 per cent in value over the same period last year, showed the statistics figures of the General Department of Customs.In July, the country exported 444,235 tons of rice worth of $221.72 million, down by 17.4 per cent in quantity and 21.1 per cent in value over the previous month. The figure was down by 23.7 per cent in quantity and 10.5 per cent in value over the same month of 2017.

The average rice export price was at $499.1 per ton in July and $506.8 per ton in the first seven months of this year, increased by 14.8 per cent year – on – year.The main rice export markets of Vietnam in the period were China, Indonesia, the Philippines, Malaysia, Ghana, Ivory Coast and Iraq.

China was leading, accounted for 23.6 per cent of the total market share with 926,961 tons worth of $491.01 million.In the first 7 months of this year, Indonesia imported 770,046 tons of rice worth of $361.37 from Vietnam, increased by 50 times in quantity and 67.5 times in value over the same period last year. 

The country’s exports of rice to the Philippines reached 458,811 tons worth of $217.13 million, up by 66.8 per cent in quantity and 103.2 per cent in value over the same period last year.Meanwhile, the exports of rice to Malaysia reached 338,182 tons worth of $154.52 million, up by 17.1 per cent in quantity and 39.4 per cent in value year – on – year.

In the first seven months of this year, Vietnam’s exports of rice to Turkey increased sharply by 443 per cent in quantity and 521 per cent in value to 4,497 tons worth of $2.59 million; to France – up by 285 per cent in quantity and 205.6 per cent in value to 751 tons worth of $0.56 million; to Poland – up by 126.7 per cent in quantity and 162.9 per cent in value to 1,435 tons worth of $0.84 million; to Iraq – up by 120.5 per cent in quantity and 153.5 per cent in value to 150,000 tons worth of $ 85.56 million.

However, the exports of rice to Senegal, Brunei, Chile and Bangladesh fell to 47 tons; 345 tons; 213 tons and 19,660 tons, respectively.

Vegetable and fruit: Earnings from vegetable and fruit exports in the first seven months of the year are estimated at $2.3 billion, a year – on - year surge of 12.6 percent, according to the Ministry of Agriculture and Rural Development’s Processing and Market Development Authority (AgroTrade).

China remained the biggest export market of Vietnam in the first half of 2018, accounting for 74 per cent of the total vegetable and fruit exports. Vietnam’s vegetable and fruit exports to China reached $1.47 billion, up by 18 per cent year on year.Meanwhile, strong export growth was recorded in Thailand (37.6 per cent), the Republic of Korea (16.7 per cent), and the US (15.9 per cent).Meanwhile, the shipment of other fruits and vegetables is forecast to face challenges in the remaining months of this year due to impacts of the rainy season, and the US-China trade war.Furthermore, China is seeking new export markets, and promoting domestic consumption, thus reducing demand for imports.

However, Vietnamese vegetables and fruits will have new destinations thanks to many free trade agreements which help unlock potential markets for Vietnamese products. Businesses should enhance production in value chain to ensure good quality for exports.The country also exported 1.16 million tons of coffee worth $2.22 billion, up by 10.8 per cent in volume but down by 5.7 per cent in value. Germany and the U.S remained the two biggest consumers of Vietnamese coffee.

Pepper: Vietnam sold 153,000 tons of pepper worth $517 million to overseas markets during the January-July period, up 3.7 per cent in volume but down 36.1 per cent in value.As many as 696,000 tons of rubbers were exported in the period, bringing home $997 million, up by 9.9 per cent in volume and down 10.7 per cent in value.

Cashew nuts: Vietnam exported 207,600 tons of cashew nuts worth of US$1.98 billion in the first 7 months of this year, increased by 10.8 per cent in quantity and 7.5 per cent in value over the same period last year, showed the statistics figures of the General Department of Customs.

In July of this year, Vietnam exported 32,700 tons of cashew nuts worth of $286.6 million, up by 1.3 per cent in quantity but down by 2.2 per cent in value over the same period last year.

The U.S was the biggest cashew export market of Vietnam in the first 7 months of this year with 79,900 tons worth of $766 million, up by 18.02 per cent in quantity and 12.7 per cent in value compared with the same period last year. It was followed by the Netherlands with 24,600 tons worth of $249.9 million; and then China – 21,700 tons worth of $205.2 million.In the first 7 months of this year, Vietnam’s exports of cashew nuts to Ukraine increased sharply by 2.09 times in quantity and 3.22 times in value year – on - year to $2.8 million; to Greece – up by 2.03 times in quantity and 96.69 per cent in value to $3.6 million; and to the Philippines – up by 72.08 per cent in quantity and 92.84 per cent in value to 974 tons worth of $8.8 million.

Meanwhile, the exports to Pakistan fell by 93.49 per cent in quantity and 94.02 per cent in value to 14 tons worth of $131,300.

Cassava: Cassava exports in the first seven months of the year reached 1.6 million tonnes with a value of 580 million USD, a year-on-year decline of 24 percent in volume but a surge of 12.5 percent in value, according to the Ministry of Agriculture and Rural Development.China remained the largest importer of Vietnamese cassava, accounting for 87 percent of total exports.Cassava output during the 2017-2018 crop saw a dramatic decline of 569,100 tonnes from the previous crop to 10.34 million tonnes.Also, cassava-growing areas have shrunk in recent years as cassava material prices were not as high as expected. Particularly in 2015 and 2016, cassava farmers were in dire straits, and decided to uproot cassavas due to a marked drop in cassava material price, which stood at only 1,200 VND per kilogramme.

However, low stockpiles of cassava in this crop pushed the price to 2,500 - 2,700 VND per kilogramme. Many cassava starch producing factories in Vietnam face material shortages and only operate when they have cassava supply.In June, cassava starch export price hit a record high with average FOB export price of 530-535 USD per tonne. However, the Vietnamese exporters decided to decrease the value to 500 USD per tonne a month later to compete with Thai cassava, which was sold at 470-480 USD per tonne.

According to the Vietnam Cassava Association, from the beginning of August, the price of cassava starch has been falling due to less purchases from China, which was said to be triggered by the US-China trade war, and stockpile price adjustment from Vietnamese plants.There are some 150,000 tonnes of cassava slices in stock. The cassava slice market is expected to be more vibrant when ethanol and chemical firms in China increase their capacity.However, China has a large amount of corn stock, which will be used for ethanol production. Thus, cassava export to China is unlikely to increase in the second half of this year.

Seafood exports increased slightly

Vietnam’s seafood export value in the first seven months of 2018 was estimated at $4.63 billion, up by 6.3 per cent over the same period last year, according to the Ministry of Agriculture and Rural Development (MARD).The US, Japan, China and the Republic of Korea were the largest importers of Vietnamese seafood in the first half of this year, accounting for 53.5 per cent of the total value.Seafood exports also saw strong growth in the Netherlands (56 per cent), Germany (27.2 per cent) and China’s Hong Kong (23.9 per cent).During the January-July period, Vietnam imported $984 million worth of seafood, a year – on - year increase of 27.8 per cent.

According to the MARD’s Department of Produce Processing and Market Development, the upcoming imposition of a 10 per cent tariff on all Chinese seafood exports by the US and China’s plan to levy a 25 per cent tariff on US aquatic products will provide an opportunity for Vietnam to boost its exports to these two markets.Vietnam’s total seafood output reached more than 7.2 million tons in 2017, including roughly 3.4 million tons coming from catching, and over 3.8 million tons from aquaculture, according to the ministry.

Vietnam’s Tra fish (pangasius) exports in July soared 13.5% to US$182 million, bringing total export turnover in seven months to US$1.18 billion, up 19.5% against the same period last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).Major consumers of Vietnamese Tra fish include China, the US, EU, ASEAN, Mexico, Brazil, Colombia and the United Arab Emirates (UAE).During the seven-month period,the UAE surpassed Saudi Arabia to be among top 8 importers of Vietnamese tra fish.

Last year, the UAE was the third largest importer of Vietnamese tra fish in the Middle East market with a value of US$23 million, down 13.2% when compared to the previous year. However, Vietnam’s tra fish exports to the UAE reversed with a sharp upturn in export value from 28% to 66.3% in the first two months of this year.

As of March 2018, the export value of tra fish increased sharply from 117% to 221%overthe same period last year.The strong growth in tra fish exports to the UAE was attributed to the Saudi Food & Drug Authority (SFDA)’s issuance of a decree to temporarily suspend imports of fish, crustacean and other aquatic products from Vietnam.The temporary suspension was based on the World Organization for Animal Health (OIE)’s "Quarterly Aquatic Animal Disease Report (Asia-Pacific Region) April - June 2017", and the outcomes of the working visit to Vietnam by SFDA in late 2017.

Exports of crude oil fell

Vietnam’s exports of crude oil decreased sharply by 48.1 per cent in quantity and 26.3 per cent in value year – on – year in the first seven months of this year to 2.32 million tons worth of US$1.26 billion, showed the statistics figures of the General Department of Customs. In July only, the country’s exports of crude oil reached 415,425 tons worth of $240.29 million, up by 32.5 per cent in quantity and 34.4 per cent in value over the previous month. The figure was down by 28.5 per cent in quantity but up by 11 per cent in value month – on – month.

China was the country’s leading crude oil export market of Vietnam in the first seven months of this year with 687,460 tons worth of $388.41 million, fell sharply by 57.1 per cent in quantity and 39.2 per cent in value compared with the same period last year.The exports of crude oil to Thailand reached 494,299 tons worth of $281.08 million, down by 15 per cent in quantity and 19.9 per cent in value compared with the same period last year.

Meanwhile, the exports to Australia reached 422,062 tons worth of $240.52 million, up by 40.8 per cent in quantity and 100.8 per cent in value; and the exports to Japan fell sharply by 60.5 per cent in quantity and 44.4 per cent in value to 217,306 tons worth of $124.58 million.In the first seven months of this year, the country’s exports of seafood to the U.S increased by 21.7 per cent in quantity and 61.7 per cent in value to 132,671 tons worth of $68.42 million.

However, the exports of seafood to Malaysia decreased by 80 per cent in quantity and 72.4 per cent in value to 79,185 tons worth of $42.27 million; and to Singapore – down by 73.3 per cent in quantity and 62.3 per cent in value to 136,344 tons worth of $75.19 million.

Exports of iron and steel increased sharply

Vietnam’s exports of iron and steel reached 3.41 million tons worth of US$2.53 billion, increased sharply by 40.4 per cent in quantity and 56.3 per cent in value compared with the same period last year, showed the statistics figures of the General Department of Customs.

Of the figure, the exports of iron and steel to Cambodia accounted for 37 per cent; to the U.S – 15.6 per cent; to Malaysia – 20.2 per cent; and Indonesia – 19.2 per cent. In the first seven months of this year, Vietnam’s exports of iron and steel to Cambodia increased sharply by 49 per cent in quantity and 77.9 per cent in value compared with the same period last year to 717,572 tons worth of $462.73 million; while the exports to the U.S reached 532,779 tons worth of $452.81 million, up by 71.6 per cent in quantity and 81.7 per cent in value.

The country’s exports of iron and steel to Malaysia increased by 88.5 per cent in quantity and 108.6 per cent in value to 391,607 tons worth of $266.98 million; to Indonesia – up by 22.3 per cent in quantity and 33 per cent in value to 372,514 tons worth of $295.33 million.

In the first seven months of this year, the country’s exports of iron and steel to Japan rocketed by 476.7 per cent in quantity and 272.7 per cent in value to 44,218 tons worth of $35.66 million; to Ukraine – up by 337.5 per cent in quantity and 572 per cent in value to 105 tons worth of $0.15 million; to Russia – up by 114.2 per cent in quantity and 115.4 per cent in value to 6,353 tons worth of $6.58 million; to Turkey – up by 115.6 per cent in quantity and 212.9 per cent in value to 1,048 tons worth of $1.67 million.

However, the exports of iron and steel to Switzerland decreased sharply by 99 per cent in quantity and 96 per cent in value to 39 tons worth of $0.07 million; to Saudi Arabia – down by 66.2 per cent in quantity and 63.4 per cent in value to 1,962 tons worth of $1.37 billion; and to Pakistan – down by 56 per cent in quantity and 45.6 per cent in value to 15,958 tons worth of $9.51 million.

Cement exports registered impressive growth

Cement exports in the first seven months of the year registered impressive growth, with 17.65 million tonnes sold for 656.3 million USD, year-on-year increases of 63.2 percent in volume and 73.4 percent in value. According to the General Department of Customs, export prices of cement and clinker grew 6.3 percent to reach an average 37.2 USD per tonne.
Bangladesh was the largest consumer of Vietnamese cement and clinker, spending 152.8 million USD on 4.75 million tonnes of the building materials, accounting for 23.3 percent and 26.9 percent in Vietnam’s total cement export quantity and value, respectively.Notably, export revenue earned from China was 90 times higher than that gained in the same period last year, with 158.35 million USD. The market consumed 4.52 million tonnes of Vietnamese cement and clinker, an 80-fold increase, becoming the second largest purchaser of the goods.The Philippines was the third biggest Vietnamese cement buyer at 3.49 million tonnes.Meanwhile, strong growth in cement exports was seen in Malaysia (87.9 percent), Peru (74.7 percent) and China’s Taiwan (11.9 percent).

A surge in exports pushed Vietnam’s trade surplus to 2.85 billion USD in the first seven months of this year, reported the General Department of Vietnam Customs.

Source: Vitic/General Department of Vietnam Customs