Achieving more than US$122 billion, import-export prospered in the first quarter of the year

The latest statistics of the General Department of Customs show that the total import and export value of Vietnam from March 1 to 15 reached US$26.36 billion, increased by22% (equivalent to US$4.76 billion) compared to the second half of February 2021.

Trade surplus reachedUS$ 1.81 billion

The results achieved in the first half of March made the total import-export value of the whole country from the beginning of the year to the end of March 15 reach US$122.21 billion, up by 24.2%, equivalent to an increase of US$23.8 billion compared to the same period in 2020.

Ofwhich, the total value of import and export of foreign direct investment (FDI) enterprises reached US$86.91 billion, up by 30.1% (corresponding to an increase of US$20.12 billion); import and export value of domestic enterprises wasUS$35.3 billion, up by 11.6% (equivalent to an increase of US$3.68 billion) compared to the same period in 2020.

In the first half of March, the balance of trade in goods was in surplus of US$239 million. Generally, from the beginning of the year to March 15, Vietnam saw a trade surplus of US$1.81 billion.

Thus, although the first quarter has not ended, but with the above results and the recent continuous growth momentum, it can be seen that import-export activities are witnessingan impressive start to the new year.

Regarding the remarkable information in the first half of March, the General Department of Customs noted that the total value of Vietnam's exports reached US$13.3 billion, up by 30% (equivalent to an increase of US$3.07 billion) compared to February 2, 2021.

Exports increased strongly in some key commodity groups such as: textiles and garments with an increase of US$565 million, equivalent to an increase of 79.6%; computers, electronic products and components increased by US$398 million, respectively up by 22.6%; machinery, equipment, tools and spare parts increased by US$392 million, corresponding to an increase of 32.6%; wood and wood products increased by US$281 million, corresponding to an increase of 69.7%.

By the end of March 15, Vietnam's total export value reached US$62.01 billion, an increase of 22.7%, equivalent to an increase of US$11.47 billion compared to the same period in 2020.

In which, a number of commodity groups increased sharply such as: machinery, equipment, tools and spare parts increased by US$3.22 billion, corresponding to an increase of 81.1%; computers, electronic products and components increased by US$2.44 billion, corresponding to an increase of 34.9%; phones and accessories increased by US$1.47 billion, corresponding to an increase of 14.4% compared to the same period in 2020.

Statistics of the General Department of Customs also showed that the export value of FDI enterprises reached US$9.86 billion in the first half of March, up by 24.6%, equivalent to US$1.94 billion compared to the second half of February 2021.

By the end of March 15, the total export value of FDI enterprises reached US$46.85 billion, up by 29.9%, equivalent to an increase of US$10.79 billion compared to the same period last year, accounting for 75.5 % of total export value of the country.

Cashew imports increased sharply

Regarding imports, the General Department of Customs recorded the total value of Vietnam in the first half of March reached US$13.06 billion, up by 14.9% (equivalent to an increase of US$1.69 billion) compared to the second half of February 2021.

Notably, imported cashew nuts increased sharply byUS$103 million, equivalent to 76.4%.
Other commodity groups with strong growth such as: computers, electronic products and components increased by US$283 million, respectively up by 11.1%; machinery, equipment, tools and spare parts increased by US$239 million, corresponding to an increase of 14.9%.

Accumulated from the beginning of the year to the end of March 15, the total import value of the country reached US$60.2 billion, up by 25.8% (equivalent to an increase of US$12.34 billion) compared to the same period in 2020.

In which, a number of commodity groups increased strongly such as computers, electronic products and components with an increase of US$2.31 billion, corresponding to an increase of 20.8%; machinery, equipment, tools and other spare parts increased by US$2.04 billion, corresponding to an increase of 30.9%; phone and spare parts by US$1.49 billion, respectively by 55.7%.

Import value of goods of FDI enterprises in this period reached US$8.54 billion, up by 13.6% (equivalent to an increase of US$1.02 billion) compared to the second half of February 2021.

By the end of March 15, the total import value of the FDI group reached US$40.06 billion, up by 30.4% (equivalent to an increase of US$9.33 billion) compared to the same period in 2020, accounting for 66.6% of the total import value of the country.

In terms of trading partners, the update of the General Department of Customs by the end of February 2021 showed positive growth in all five continents.

In particular, Vietnam's trade with Asia reached US$62.12 billion, up by 25.6% compared to the same period in 2020, continuing to account for the highest proportion (64.8%) in the total import and export value of the country.

The value of import and export Vietnam and other continents such as the Americas reached US$19.82 billion, up by 26.8%; Europe reached US$10.95 billion, up by 15.9%; Oceania reached US$1.85 billion, up by 18.7% and Africa reached US$1.11 billion, up by 35.4%, respectively.

Source: Customs News