Vietnam Import - Export Higlights in year 2010

by the report from GSO Vietnam | 04/1/2011

This year’s export turnover is estimated reaching USD 71.6 billion, increasing by 25.5% against 2009, of which the domestic economic sector gains USD 32.8 billion, up by 22.7%; the FDI sector (including crud oil): USD 38.8 billion up by 27.8%. If crude oil is excluded, the FDI sector’s export turnover is USD 33.9 billion up by 40.1% against 2009.

Generally, the exportation of goods this year has had many advantages since unit prices of many items in the world market increased, of which prices for cassava and cassava products increased by 90.7%; for rubber by 81%; for pepper by 39.7%; for cashew nut by 22.4%; for coal by 52.9%; for crude oil by 33.7%. If the factor of price rise is excluded, 2010’ export turnover is estimated reaching USD 64.5 billion, up by13.4% against 2009.

There is a change in the export turnover structure this year for some groups of commodities as compared with last year, of which the group of light industrial and handicraft goods increases by 46% from 42.8%; other groups decrease: heavy industrial and mineral goods from 29.4% to 27.2%; sea food from 7.4% to 6.9%; gold and gold products from 4.6% to 4%.

For market for exportation, as of end of November 2010, the United States  is still Vietnam’s largest market with estimated export turnover of USD 12.8 billion, accounting for 17.9% of the total export turnover and up by 25.4% against the same period last year. Main exported items to this market are textile (USD 5.5 billion), wood and wood products (USD 1.3 billion), shoes and sandals (USD 1.3 billion), seafood (USD million). Followed by EU with USD 10 billion, accounting for 13.9% and up by 15.9% with exported footwear turnover of USD 2 billion; textile  USD 1.64 billion; sea food USD 1 billion; wood and wood products USD 594 million. Exported goods to ASEAN gain USD 9.3 billion, accounting for 13% up by 19.6%, of which exported rice reached USD 1.5 billion; crude oil USD 1.4 billion; gasoline USD  653 million. Exported goods to Japan reaches USD 6.9 billion, accounting for 9.6% and up by 23.6% against the same period last year; exported goods to China gain USD 6.3 billion, accounting for 8.8% and up by 48.6%.

As while the import statistic, this year’s import turnover is estimated reaching USD 84 billion, up by 20.1% against last year, of which the domestic economic sector gains USD 47.5 billion, up by 8.3%; and the FDI sector with USD 36.5 billion, up by 39.9%. Similar to exportation, price rise in the world market for some items is the main reason for increasing this year import turnover, of which price of synthetic rubber increased by 64.2%; cotton by 45.2%; metal by 32.2%; steel by 27.6%; liquidized gas by 32.3%. The import turnover structure this year has not much change against last year, of which capital goods still take largest proportion of 90.2 %; consumer goods decrease from 9.3% to 8.6%; gold and gold products increase from   0.5% to 1.2%.

During eleven months of this year, China is still the largest market for Vietnam’s importation with total turnover of USD 17.9 billion, up by 23.4% against the same period in 2009; ASEAN with USD 14.5 billion, up by 18%; Republic of Korea with USD 8.7 billion, up by 42.4%; Japan with USD 8.1 billion, up by 21.7%; EU with USD 5.5 billion, up by 9%.

The FDI sector has taken a rather large part in the high growth of export-import turnover with some exported items having export turnover accounted for large proportion as compared to general exported goods, like: textile accounted for 60.8%; footwear for 72.7%; electronics and computer for 98.2%; machinery, equipment and spare parts for 87.7%, and some imported items  having import turnover accounted for large proportion as compared to general imported goods, like: electronics, computer and components accounted for 73.1%; fabric for 61.6%; and steel for 40.2%.

2010’s trade deficit is estimated reaching USD 12.4 billion, down by 5.2% against 2009 and equal 17.3% of total export turnover. If gold, precious metals and products are excluded, this year’s import surplus is USD 14.2 billion, equivalent to 20.7% of the total export turnover.

Vietnam Export Highlight in year 2010

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Vietnam Import in 2010

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Vietnam Import-Export Review in year 2009

From GSO, the export turnovers in 2009 were at an estimate of USD 56.6 billion, showing a drop of 9.7% as against 2008. As while, the import turnovers in 2009 were at an estimate of USD 68.8 billion, down by 14.7% as against 2008. Of which, the domestic economic sector gained USD 43.9 billion, fell by 16.8%; the FDI sector: USD 24.9 billion fell by 10.8%. Although the decreased rate of the import turnovers was higher than that of the export turnovers, the trade deficits in 2009 was still at an estimate of USD 12.2 billion, reduced by 32.1% as against 2008 and equal 21.6% of 2009’s total export turnovers.

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Vietnam has reviewed their export plan and aim to gain bigger portion of their total export to Asean market.

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In the same time, Vietnam is one of the strategic markets of Asean exporter during last period:

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Vietnam Trade Balance (Import-Export) in first seven months of year 2009.

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More information about banking review

Update Vietnam import export figures in the first half of 2009

The initial statistic figures from export business in the first half of 2009 has reflected the effects from world financial crisis. (* Refer to more financial news in Vietnam ). However, the contribution of foreign enterprise in country's export/import has some better signals in last two months of the first half:

• Export contribution from FDI enterprise: -7.6% - account 37% of total country export, not include crude oil export (in first 4 month is - 34%, in the first 2 months: -23.4%) year on year

The higlight of import in this first half are:

• Import from FDI enterpises also reduce -24.2% (in the first 4 month: -33%, in the first 2 months: 29.8%) year on year. Total import from FDI Enterprises account about 35% of whole country imports

More financial news about export enterprises

Beside the less contribution of FDI enteprises in import-export activities, the number of FDI projects in Vietnam also reduces. See more details in FDI statistics

More information of domestic industrial Output: Industry Analysis : Paper Industry - Cement Industry - Petrochemical Industry - Construction Industry

Highlights of Vietam Import-Export in Jan-Nov 2008 (Source: GSO)

1. From year to month, agriculture segment has totally 5 products reached over 1 billion USD export: Aquatic products, rice, wood and wooden products, coffee and rubber.
2. With paper industry, the supply is over demand. It creates the strong pressure to make the domestic price reducing. Total import paper has growed more than 20% compared with last year. As while, demand grows only at 8.5 - 10.5%. The country inventory now is over 40,000 mt of all kind of paper.
3. Animal feed's inventory now is over 20,000 mt, especially many shipments from Agrentina, India, Peru has not come ye, which may causes higher inventory level in country.
4. Fertilizer has been imported over 180,000 mt (+30 % month on month). Comparing with the same period of last year, Ure import reduces 36%, SA - 43.09%, DAP - 40.93%, NPK -69.71%
5. Although coming to the high season as usual, wood import reduces 13.6% month on month. In which, MDF -28% month on month (on import quantity), hard wood - 2.2%, rubber wood -6.88%,

Vietnam Import - Export in first quarter 2008 - clink on the image to enlarge view

Major markets of Vietnam in export business in year 2007

Products	Top 3 Markets / Amount (mil. $US)
Toys	United States (27.42), Germany (14.45), Japan (6.57)
Sugar	Indonesia (2.5), Taiwan (0.82), China (0.64)
Coffee	Germany (278), United States (212), Spain (150)
Natural Rubber	China (838), Malaysia (69.9), Taiwan (68.4)
Crude Oil	Australia (2,880), Singapore (1,573), Japan (1,013)
Rice	Philippine (468), Indonesia (378), Malaysia (116)
Wood Furniture	United States (948), Japan (307), United Kingdom (196)
Footwear	United States (885), United Kingdom (526), Germany (357)
Apparrel	United States (4,465), Japan (704), Germany (365)
Plastics products	United States (137), Japan (126), Cambodia (44)
Anthracite	China (650), Japan (133), Korea (39)

Vietnam Import - Export Forecast in year 2008 (Source: Ministry of Industry & Trade) - clink on the image to enlarge view

Vietnam Import 2007 Review

As the recent report of Ministry of Industry and Trade, there are four key factors caused the high import amount in year 2007:

1. Import of machinery and materials for foreign investment projects and other key projects of country, like Ca Mau Power - Fertilizer Complex, Ship Building, and Dung Quat Refinery project.

2. The increasement of imported material's price, like crude steel, fertilizers, plastics and textiles.

3. Export growth is less than last year (20.5% vs. 22.8% of last year). In addition, some items are controled the quantity of export to secure the country's resources and environment's issues.

4. Import tax reduction in AFTA scheme. It boosted up the big volume of import from regional countries to Vietnam.

Key import-export products in year 2007

Import	Unit	Qtty
Pulp & Paper	'000 mt	842
Fertilizer	'000 mt	3,800
Plastics	'000 mt	1,650
Gasoline	'000 mt	12,600
Construction Steel	'000 mt	7,700
in which: Crude Steel	'000 mt	2,000
Export
Crude Oil	'000 mt	16,400
Coal	'000 mt	32,500
Apparel	mil. USD	7,800
Footwear	mil. USD	4,000
Wooden Products	mil. USD	2,400
Plastics Products	mil. USD	725
Bicycles and Spare parts	mil. USD	79
Processed Seafood	mil. USD	3,790
Wire Cables	mil. USD	884

TRADE BALANCE BY COUNTRIES (FROM JAN - JUL'07)

(Source: General Department of Statistics)

IMPORT SHARES BY COUNTRIES (FROM JAN - JUL'07)

(Source: General Department of Statistics)

IMPORT - EXPORT REVIEW IN YEAR 2006

In year 2006, Vietnam exports total 39.6 billion USD (+22.1% year on year), in which: FIEs: 22.87 billion $US (+23.2% yoy)- included crude oil export. The major export market in year 2006: 20% United States (+35% yoy), 18% E.U (+30% yoy), 13% Japan (+19% yoy). There are total 9 groups which have export amount over 1 billion $US: crude oil, garment, footwear, aquatic products, furnitures, electronic components, rice, coffe and rubber.

Total import value of Vietnam in 2006 is 44.41 billion USD (+20.1% year on year), in which FIEs: 1.55 billion $US. Some goods have significant growth in 2006 like: paper (+24.8% yoy), chemicals (+18.7%), plastics (+13.6%), machinery (+24.1%).

EXPORT REVIEW 2005

Earnings from exports in December were estimated at 3 billion USD, bringing the country's export revenues this year to over 32 billion USD, 21.6 percent more than last year, according to the Trade Ministry.

Particularly, crude oil exports fetched more than 7 billion USD. Aquatic products, the country' fourth largest foreign currency earner, raked in 2.5 billion USD, 14 percent over last year. More than 5.2 million tonnes of rice have been exported, earning nearly 1.4 billion USD, a record so far in terms of both volume and value. Wooden furniture exports also surpassed their target, reaching more than 1.5 billion USD, a 33 percent year on year increase; rubber latex fetched an export value of 772 million USD; coffee, 718 million USD; electronics and computer parts, 1.5 billion USD.

The US is the biggest market for Vietnamese products, spending 4.8 billion USD. It was followed by ASEAN countries with more than 4.4 billion USD; the EU, more than 4.3 billion USD; Japan , 3.5 billion USD, and China , 2.3 billion USD.

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IMPORT REVIEW 2005 (Source: MOT)

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TRADE RECORDS FROM 1996 - 2005

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Past records - click here