Trade balance surplus reached USD7.56 billion for the Jan-April period
Saturday, May 27,2023
AsemconnectVietnam - According to trade statistics of Vietnam Customs, in April of 2023, exports decreased by 6.2% to US dollars 27.86 billion and imports fell by 11% to US dollars 25.21 billion, month-on-month.
As a result, there was a USD2.66 billion surplus in Vietnam’s trade balance this month.
In the first 4 months of 2023, Vietnam’s trade-in-goods reached US dollars 206.76 billion, 15.3% downwards year on year. Which, total merchandise export value shrunk by 13% to USD107.16 billion and the total merchandise imports value decreased by 17.7% to USD99.6 billion. Accordingly, Vietnam’s trade balance during this period was in the surplus of USD7.56 billion.Trade data disseminated recently by Vietnam Customs announced that the total value of exportation and importation by foreign direct invested (FDI) traders reached USD36.27 billion for April of 2023, down by 8.3% month-on-month. FDI’s export value of USD20.04 billion and FDI’s import value of USD 16.24 billion led to a trade surplus of USD3.8 billion.
For Jan-April period, trade-in-goods by FDI traders totaled USD144.02 billion, down by 15.1% year-on-year. The total value of FDI exportation decreased by 12.4% to USD79.1 billion, valued at USD64.92 billion, down by 18.3%. As a result, FDI’s trade balance was in surplus of USD 14.19 billion.
Main Exports
In April of 2023, export of some products decreased month-on-month such as computers, electrical products, spare parts and components thereof (down by USD921 million); telephones, mobile phones and parts thereof (down by USD365 million); machine, equipment, tools and instruments (down by USD228 million).
Exports decreased by USD16.08 billion to USD107.16 billion in April of 2023, year-on-year. The main products, which contributed to the reduction, were: telephones, mobile phones and parts thereof (down by USD3.81 billion); textiles and garments (down by USD2.15 billion); wood and wooden products (down by USD1.72 billion); computers, electrical products, spare-parts and components thereof (down by USD1.66 billion); foot-wears (down by USD1.14 billion).
Trade statistics of Vietnam Customs shows that 4the biggest commodity groups in the first 4 months of 2023 were: telephones, mobile phones and parts thereof; computers, electrical products, spare parts and components thereof; machine, equipments, tools and instruments; textiles and garments.
Export of telephones, mobile phones and parts thereof fell by 18.1% year-on-year to USD17.27 billionfor Jan-April period. The biggest trading partners of Vietnam importing this commodity were the China (down by 14.9% year-on-year to USD4.03 billion); the United States (down by 28.1% year-on-year to USD3.13 billion); EU (27) (up by 10.9% year-on-year to USD2.59 billion); Republic of Korea (down by 46.2% year-on-year to USD1.08 billion).
Export of computers, electrical products, spare-parts and components thereof decreased by 9.4% year-on-year to USD16.03 billion for Jan-April period. The biggest trading partners of Vietnam importing this commodity were the United States (up by 5.3% year-on-year to USD4.73 billion); China (down by 14.9% year-on-year to USD3.23 billion); EU (27) (down by 30% year-on-year to USD1.77 billion); Republic of Korea (up by 20% on year-on-year to USD1.62 billion).
Export of machine, equipments, tools and instruments fell by 4.8% year-on-year to USD13.2 billion for Jan-April period. The biggest trading partners of Vietnam importing this commodity were the United States (down by 13.1% year-on-year to USD5.33 billion); EU (27) (up by 6.4% year-on-year to USD1.91 billion); China (down by 1.8% year-on-year to USD940 million); Japan (down by 0.9% year-on-year to USD890 million).
For Jan-April period, export of textiles and garments decreased by 18.1% year-on-year to USD9.72 billion. The biggest trading partners of Vietnam importing this commodity were the United States (down by 30.2% year-on-year to USD4.17 billion); EU (27) (down by 10.6% year-on-year to USD1.14 billion); Japan (up by 8% year-on-year to USD 1.13 billion); The Republic of Korea (down by 1.5% year-on-year to USD990 million).
Main Imports
Trade statistics of Vietnam Customs shows that 4 biggest commodity groups in the first 4 months of 2023 were: computers, electrical products, spare-parts and components thereof; machine, equipments, tools and instruments; telephones, mobile phones and parts thereof; textile, leather and foot-wears materials and auxiliaries group.
Import of Computers, electrical products, spare-parts and components thereof fell by 14% year-on-year to USD25.39 billion for Jan-April period. The biggest trading partners of Vietnam, from which this commodity originated, were Republic of Korea (down by 4.1% year-on-year to USD8.27 billion); China (down by 19.6% year-on-year to USD6.65 billion); Taiwan (China) (down by 22.5% to USD3.22 billion); Japan (down by 8.3% year-on-year to USD2.19 billion).
Import of Machines, equipment, tools, and instruments for Jan-April period reached USD12.47 billion, down 13.9% year-on-year. The biggest trading partners of Vietnam, from which this commodity originated, were China (down by 14.2% year-on-year to USD6.35 billion); the Republic of Korea (down by 22% year-on-year to USD 1.81 billion); Japan (down by 5.4% year-on-year to USD1.33 billion).
Import of Textile, leather and foot-wears materials and auxiliaries group reached USD 7.54 billion for Jan-April period, down by 20.2% year-on-year. The biggest trading partner of Vietnam, from which this commodity originated, was China (down by 18.2% year-on-year to USD3.99 billion); Republic of Korea (down by 16.8% year-on-year to USD695 million); Taiwan (China) (down by 29.2% to USD655 million); United States (down by 25.4% to USD411 million).
Import of Telephones, mobile phones and parts thereof reached USD2.52 billion for Jan-April period, down by 66% year-on-year. The biggest trading partner of Vietnam, from which this commodity originated, was China (down by 32.3% year-on-year to USD 2.13 billion).
Trading Partners
For Jan-April period, Vietnamese merchandise trade with trading partners in Asia totaled USD134.44 billion, down 15.2% year-on-year. Trade-in-goods of Vietnam with America decreased by 18.6% to USD41.61 billion. The values of other continents were Europe (USD23.23 billion, down by 11.9%; Oceania (USD5.14 billion, down by 5.7%) and Africa (USD2.34 billion, down by 12.7%).
In the first 4 months of 2023, 4 exporting markets of Vietnam with turnover of over USD7 billion were: The United States of America (USD28.64 billion); China (USD15.5 billion); Republic of Korea (USD7.58 billion) and Japan (USD7.33 billion).
Four partners exporting goods to Vietnam with turnover of over 5 billion were as follows: China (USD32.36 billion); Republic of Korea (USD16.05 billion); Japan (USD6.96 billion); Taiwan (USD5.94 billion).
T,Huong
Source: Vitic/ Vietnam Customs
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