First Quarter of 2017: A deficit of $ US 1.94 billion

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According to the statistics on imports and exports from the General Department of Customs, in the first quarter of 2017, the total import-export turnover reached more than $US 91.21 billion, up by 19.9%, corresponding to an increase of nearly $ US15.16 billion against the same quarter in 2016.

The import turnover of 10 largest commodity groups in March 2017 compared to those in March 2016.

In which, the total import-export turnover of foreign directly invested enterprises (FDI) reached nearly $ US 59.12 billion, up by 18.8%, equivalent to more than $ US 9.35 billion over the same quarter in 2016

The statistics of General Department of Customs also showed that the total import-export turnover of Vietnam in the second half of March 2017 (from 16 March 2017 to 31 March 2017) reached nearly $ US 19.02 billion, increasing by 14.5%, equivalent to $ US 2.41 billion against the first half of March 2017.

In which, the import-export turnover of FDI enterprises was more than $ US 12.49 billion, up by 17%, corresponding to more than $ US 1.81 billion compared to the first half of March 2017.

In the second half of March 2017, the country’s trade balance was in a deficit of $ US137 million, bringing the country’s trade balance in the first three months of 2017 to a deficit of nearly $ US 1.94 billion, equivalent to 4.3% of export turnover

For exports, the total export turnover in the second half of March 2017 reached nearly $ US 9.44 billion, up by 20.8% (equivalent to nearly $ US 1.63 billion) compared to the first half of March 2017

The export turnover of the second half of March 2017 was higher than the first half of March, 2017 due to the increase in some commodity groups as below: Telephones and accessories increased by 37.2%, equivalent to $ US 485 million; Machinery, equipment, tools and other spare parts increased 24.2%, equivalent to $ US 122 million; Footwear increased by 21.7%, equivalent to $ US 107 million; Computers, electronic products, and components increased by 10.2%, equivalent to $ US 170 million; Textile and garment increased by 10.3%, equivalent to $ US 103 million; …Meanwhile, the export turnover of a few of commodity groups decreased such as: Cassava decreased by 15.4%, equivalent to $ US 11 million; Ores and other minerals decreased by 58.6%, equivalent to $ US 5 million.

Thus, by the end of first quarter of 2017, the total export turnover of Vietnam reached nearly $ US 46.64 billion, up by 15.1%, equivalent to $ US 5.86 billion.

The statistics of the General Department of Customs also stated that the export value of FDI enterprises in the second half of March, 2017 reached more than $ US 6.67 billion, up by 23.1%, equivalent to more than $ US 1.25 billion compared to the first half of March, 2017, thereby bringing the total export turnover of FDI enterprises to more than $ US 31.32 billion, increasing by 14.8% compared to same quarter in 2016, accounting for 70.25 of the country’s total export turnover.

For imports, the total import value of Vietnam in the second half of March 2017 reached nearly $US 9.58 billion; rising by 8.9% (corresponding to $ US 783 million) compared to the first half of March 2017.

The import turnover in the second half of March 2017 declined over the first half of March, 2017 mainly due to the increase and decrease in some commodity groups as below: Computers, electronic products and components risen by 21.9%, corresponding to $ US 295 million; Machinery, equipment, tools and other spare parts risen by 11.1%, corresponding to $ US 172 million; fabrics risen by 29.1%, corresponding to $ US 127 million; Telephones and accessories risen by 11%, corresponding to $ US 60 million; Coal risen by 54.4%, corresponding to $ US 46 million. Meanwhile, Petroleum fell by 9.3%, corresponding to $ US 32 million; Iron and Steel fell by 6.7%, corresponding to $ US 30 million; Car’s components and spare parts fell by 13.4%, corresponding to $ US 23 million.

Hence, by the end of March 2017, the country’s total import turnover reached more than $ US 46.57 billion, up by 24.9% (corresponding to nearly $ US 9.3 billion) compared to the same quarter in 2016.

The import value of FDI enterprises in the second half of March 2017 reached $ US 5.82 billion, up 10.6%, corresponding to $ US 559 million compared to the first half of March 2017, thereby bringing the total import turnover of the FDI enterprises in March, 2017 reached nearly $ US 27.8 billion, up 23.6%, corresponding to more than $ US 5.31 billion compared to February 2016.

By Ha Nhi/ Huyen Trang