Jan – July import – export revenue higher than 2013 full-year figure
The import and export revenue of Vietnam in the first seven months of the year surpassed that of the full year for 2013, according to the General Department of Vietnam Customs. Preliminary customs statistics from the department showed that the total value of imports and exports in July reached a record high of USD 41.2 billion, a 6.1% rise against the previous month.
Vietnam exported goods worth more than USD 20.3 billion, up by 2.4% month-on-month, while the country spent over USD 20.9 billion purchasing foreign goods, up by 10%.
July was the second month this year, after January, in which the total value of imports and exports was above USD 20 billion.
Overall, the total import-export revenue in the year to late July had amounted to USD 266.1 billion, rising by 13.5%, or USD 31.7 billion, over last year. The revenue was even higher than that of the full year in 2013, at USD 264.07 billion.
The respective figures for the seven-months import and export turnover were more than USD 131.6 billion and USD 134.5 billion, up by 11.1% and 16%, respectively, according to the customs agency.
While Vietnam recorded a trade deficit in goods in May and July, the country recorded a trade surplus in the first four months of the year. As a result, there was still a USD 2.85 billion surplus in its seven-months trade balance, compared with a trade deficit of USD 2.61 billion in the same period last year.
The customs agency noted that the foreign direct investment (FDI) sector had earned USD 172 billion in imports and exports in the year to end – July, up by 13.3%, or USD 20.2 billion, over the same period last year.
During this period, outbound sales of the FDI sector rose by 15.9% year-on-year to USD 94.2 billion, while the sector imported goods worth USD 77.8 billion, up by 10.4%. Therefore, the sector gained a trade surplus of USD 16.4 billion.
Among the export commodities, phone and phone parts earned more than USD 26.4 billion between January and July, a year-on-year increase of 17.4%. Textiles and garments came second with some USD 16.5 billion (up by 16%), followed by computers, electronic products and their spare parts, earning USD 15.9 billion (up by 16.2%).
Meanwhile, imports of computers, electronic products and their spare parts rose by 13.9% to more than USD 23.1 billion. Machinery, equipment, tools and other accessories came second, earning some USD18.8 billion, down by 6.4%, followed by phones and phone parts, earning more than USD 7.3 billion, down by a mere 0.6%.