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Vietnam exports expand 17.6% in Jan-May 15

Vietnam’s merchandise exports from January to the first half of May 2017 were valued at nearly US$69.7 billion, or 17.6% higher than exports in the same period of 2016, according to Vietnam Customs Statistics.

Trade in goods for the period totaled $142.41 billion in value terms, up 21.3% from the same period of previous year. Of this, merchandise imports were up 25% to $72.71 billion.

Meanwhile, in the first half of May, Vietnam’s total exports reached $7.62 billion, a decrease of 20.7% compared to the second half of April 2017. Imports in the same period amounted to $8.72 billion. Trade in goods in the first half of the month showed a trade deficit of nearly $1.1 billion.

Export and import turnover of the country in the first half of May registered an aggregate value of $16.34 billion, down by 11.9% compared to the second half of April 2017.

The decline in exports compared to April 16 to April 30, 2017 was mostly a result of the dip in the outbound shipment of telephones, mobile phones and parts; textiles and garments; computers, electrical products, spare parts, and components; and machines, equipment, tools, and instruments.

However, an upturn occurred for exports of some commodities, such as coal and fruits and vegetables.

In the first half of May 2017, imports decreased by 2.5% compared with the second half of April, mainly reflecting lower sales of machines, electrical products, spare parts, and components; computers, electrical products, spare parts, and components; telephones, mobile phones, and parts; and petroleum products.

However, some import commodities registered growth, such as fabrics, animal fodder and animal fodder materials, plastics, and other means of transportation.

For foreign direct investors in the country, they posted a total value for exports and imports in the first half of May of $10.75 billion, down by 14.8% as opposed to the second half of April 2017.

From January up to May 15, 2017, total merchandise trade value of FDI traders was $93.39 billion, 23.1% higher than the performance for the same period of 2016.

Photo: Reinowis

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