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China continues to be the main exporter to Vietnam

Monday 18, 05 2020
The total national export turnover has reached 158.94 billion USD, increasing by 0.9% (equivalent to 1.4 billion USD) compared to the same period last year
China continues to be the main exporter to Vietnam

​According to the preliminary statistics of the General Department of Customs of Vietnam, by the end of April 2020, the total national export turnover has reached 158.94 billion USD, increasing by 0.9% (equivalent to 1.4 billion USD) compared to the same period last year, in which export reached 80.86 billion USD, increasing by 2% and import reached 78.08 billion USD, slightly decreasing by 0.3%.

The trade balance

The trade balance in April 2020 lost 0.94 billion USD. However, from the beginning of the year to the end of April, the national trade balance still had a surplus of 2.78 billion USD.

Regarding the export and import market, by the end of April 2020, the commercial trade of Vietnam with the Asian market still accounts for the highest proportion of 65.2% In the total national export and import turnover. The export and import value of Vietnam with this continent reached 103.61 billion USD, slightly decreasing by 0.4% compared to the same period in 2019, in which the export value was 41.03 billion USD, increasing by 1.5% and the import value was 62.58 billion USD, decreasing by 1.7%.

The export and import turnover between Vietnam and the other continents are as follows: Europe: 19.44 billion USD, decreasing by 5.8%; Africa: 1.77 billion USD, decreasing by 4.7% compared to April 2019.

According to the General Department of Customs, the total export value in the first 4 months of 2020 increased by 2%, equivalent to 1.62 billion USD compared to the same period last year, in which the categories with an increase are: computer, electronic products, and parts with an increase of 2.51 billion USD, equivalent to 26%; machines, equipment, tools and spare parts with an increase of 1.46 billion USD, equivalent to 27.4%;  toys, sports tools and parts with an increase of 308 million USD, equivalent to 76.9%; electric wire and cable with an increase of 202 million USD, equivalent to 38.9%; wood and wooden products with an increase of 159 million  USD, equivalent to 5.1%, etc.

The total import value of Vietnam reached 78.08 billion USD, decreasing by 0.3% over the same period in 2019. Some items had decreased fluctuations over the same period last year, for example, the gasoline of all kinds decreased by 800 million USD; completed automobiles of all types reduced by 430 million USD; iron and steel of all kinds decreased by 405 million USD; machinery, equipment, tools, and spare parts decreased by 290 million USD, etc. Besides, import of some commodity groups still increased such as computers, electronic products & components with an increase of 1.81 billion USD; crude oil with an increase of 440 million USD; mobile phones and components with an increase of 256 million USD, etc. compared to the same period last year.

>> 
America-China Trade War: Impacts on Vietnam​

China continues to be the main exporter to Vietnam

Data shows that China is still the main exporter to Vietnam.

Specifically, for the group of computers, electronic products, and components, China is the second-biggest partner (with the biggest being South Korea) with 3.9 billion USD; China is the No. 1 supply market for groups such as machinery and equipment and spare parts (4.54 billion USD); raw materials and accessories for the textile, leather and footwear industry (3.11 billion USD); Phones of all kinds and components (1.97 billion USD); Plastic materials and plastic products (1.35 billion USD); Iron and steel of all kinds (933 million USD); Chemicals and chemical products (1.13 billion USD).

Source: https://cafef.vn/trung-quoc-tiep-tuc-la-thi-truong-cung-cap-chu-yeu-cac-mat-hang-nhap-khau-cho-viet-nam-20200517210327244.chn

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