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Vietnam’s export and import overview as of November 2020

Vietnam’s export and import overview as of November 2020

Wednesday 23, 12 2020
In the first 11 months of 2020, Vietnam’s export and import turnover reached over USD 489 billion.

Export and import overview as of November 2020

According to the General Department of Customs, the total export-import turnover nationwide in November 2020 reached USD 49.93 billion, down 3.2% from the previous month. In which, the export value reached USD 25.24 billion, decreased by 7.4%, and the import value reached USD 24.69 billion, increased by 1.5% compared to October 2020.
 
In the second half of November 2020 alone (November 16th – 30th), the total value of Vietnam's exports reached nearly USD 13.4 billion, up 16% (equivalent to an increase of USD 1.85 billion compared to the first half of the month. The increase in export value at the second half of November 2020 in comparison with the first half mainly appeared in some commodity groups such as computers, electronic products and components (up 21.1%, equivalent to USD 366 million), textiles and garments (up 31.9%, equivalent to USD 305 million), machinery, equipment, tools and spare parts (up 14.1%, equivalent to USD 185 million), footwear (up 24.6% or an increase of USD 163 million), wood and joinery (up 29.4% or USD 152 million), etc. 
 Export and import overview as of November 2020
Regarding the import side, the total value of Vietnam's imports in the second half of November 2020 reached USD 12.7 billion, up 9.5% (equivalent to an increase of nearly USD 1.1 billion) compared to the first half of this month. The increase in import value of goods in the second half of November 2020 compared to the first half mainly appeared in commodity groups: computers, electronic products and components up 11.7%, equivalent to USD 344 million; machinery, equipment, tools, and other spare parts increased by 9%, equivalent to USD 144 million, etc. Meanwhile, some commodity groups with a decrease in value were crude oil (down 58%, equivalent to USD 117 million), soybean (down 73.7%, equivalent to USD 35 million). 
 
In the first 11 months of 2020, Vietnam's total export and import turnover reached USD 489.88 billion, up 3.6% over the same period last year. In which, the value of exports reached USD 254.97 billion, up 5.5% year over year, equivalent to an increase of USD 13.23 billion, and the value of imports reached USD 234.91 billion, up 1.7% year over year, equivalent to an increase of USD 3.93 billion. 
 
In November 2020, the trade surplus reached USD 546 million, contributing to bringing the country's trade surplus in the first eleven months of 2020 to USD 20.06 billion.
 

Export and import value of FDI enterprises

The General Department of Customs recorded that the total import and export turnover of enterprises with Foreign Direct Investment (FDI) in November reached USD 35.1 billion, decreased by 1.9% from the previous month. With this figure, the import and export turnover of FDI enterprises in the first 11 months of this year reached USD 333.46 billion, up 9.5%, equivalent to an increase of nearly USD 29 billion over the same period in 2019.
 
To be specific, the export values of FDI enterprises in this month reached USD 18.89 billion, decreased by 5.4% compared to October 2020. The export value of this sector in the first 11 months of 2020 increased to USD 182.44 billion, increased by 8.6% compared to the same period last year.
 Export and import value of FDI enterprises
In the opposite direction, the import value of FDI enterprises in November 2020 reached USD 16.21 billion, increased by 2.6% compared to the previous month. The import value of this sector in the first 11 months of this year increased to USD 151.02 billion, up 10.6% over the same period last year.
 
Also, according to the General Department of Customs, the trade surplus of FDI enterprises in November 2020 had a value of USD 2.68 billion. The trade surplus in this sector in the first 11 months of 2020 increased to USD 31.42 billion.
 

Compiled by VietnamCredit

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