Preliminary assessment of Vietnam international merchandise trade performance in the second half of August 2021

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The Vietnam Customs Statistics announced that in the second half of August, 2021 the total Vietnam’s exports of US dollars 15.87 billion and imports of nearly US dollars 14.62 billion resulted in a trade surplus of US dollars 1.25 billion. Accordingly, the total value of export and import turnover of Vietnam in the second half of August was over US dollars 30.49 billion, up by 26.5% as compared to the first half of August-2021. Furthermore, in the first 8 months of 2021, Vietnam was in trade deficit of USD 2.63 billion.

Vietnam‘s trade-in-goods in the first 8 months of 2021 totaled US dollars 429.68 billion in value terms, up by 27.5% as compared to the performance of the same period of last year.

In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation in the first 8 months of 2021 reached USD 297.43 billion, up by 31.2% in comparison to the same period of 2020.

Export:

As compared to the first half of August-2021, second half of the month increase in the total export value (39.6% – USD 4.5 billion equally) is reflected by upturn in computer, electrical products (up by 62.3% – USD 1 billion equally); telephone, mobile phones and part thereof (up by 37.8% – USD 883 million); irons and steels (up by 91.9% – USD 462 million equally; machine tools and equipments (up by 27.2% – USD 375 millions); …

Totally, in the first 8 months of 2021 total export value from Vietnam was USD 213.52 billion, up by 21.8% as compared to the same period of 2020 (equivalent to USD 38,15 billion in absolute value terms).

Chart 1: Top 10 main exported commodities of second half of August 2021 as compared to the first half of August.

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Import:

The first half to second half of August widen in the total of import value (14.8%) reflected upturn in computer, electrical products (up by 26.5% – USD 764 million equally); irons and steels (up by 24.6% – USD 132 million equally); telephone mobile phones (up by 23.9% – USD 200 million); machine tools and equipments (up by 9.1% _ USD 174 million equally)…

From January to second half of August-2021, total import value into Vietnam was USD 216.15 billion, went up by 33.7% as compared to the same period of 2020 (equivalent to USD 54.47 billion in absolute value terms).

Chart 2: Top 10 main imported commodities of second half of August 2021 as compared to the first half of August.

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Source: Vietnam Customs

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