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BY THE END OF MAY 2017: TOTAL IMPORT-EXPORT TURNOVER REACHED NEARLY $US 162.45 BILLION

VCN- According to statistics released by the General Department of Vietnam Customs, the total import and export turnover of Vietnam in the first 5 months of 2017 reached $US 162.45 billion, an increase of 21.5%, equivalent to $US 28.77 billion over the same period in 2016.

by the end of may 2017 total import export turnover reached nearly us 16245 billion
The total import and export turnover of Vietnam in the first 5 months of 2017 reached $US 162.45 billion.

Preliminary statistics of the General Department of Vietnam Customs also show that the total import-export turnover of Vietnam in the second half of May 2017 (from 16th May 2017 to 30th May 2017) reached $US 20.08 billion, an increase of 22.9%, equivalent to $US 3.74 billion compared to the results in the first half of May 2017.

In particular, the import-export volume of foreign-invested enterprises in the period reached nearly $US 13.13 billion, an increase of 22.1%, equivalent to $US 2.38 billion, compared to the first half of May 2017. Over the past 5 months, the total import-export turnover of foreign-invested enterprises reached more than $US 106.5 billion, an increase of 23.7%, equivalent to $US 20.39 billion over the same period in 2016.

In the second half of May 2017, the trade balance of goods had a surplus of $US 540 million, bringing the trade balance of goods in the country in the first 5 months of 2017 to the deficit of nearly $US 2.5 billion, equivalent to 3.1 % of exports.

Regarding exports, the total export turnover of Vietnam in the second half of May 2017 reached more than $US 10.31 billion, an increase of 35.3% (equivalent to an increase of $US 2.69 billion) compared to the first half of May 2017.

Export turnover in the second month of May 2017 increased compared to the first half of May 2017 mainly in the following commodity groups: telephone and components increased by 34.7%, equivalent to $US 611 million; textiles and garments increased by 42.5%, equivalent to $US 339 million; machinery, equipment, tools and spare parts increased by 56.7%, equivalent to $US 265 million; footwear of all kinds increased by 34%, equivalent to $US 200 million. Meanwhile, only a number of commodity groups have an export turnover which decreased compared to the previous period, such as cameras, camcorders, and components with a decrease of 12.8%, equivalent to $US 17 million; coal with a decrease of 8.1%, equivalent to $US 2 million.

Thus, by the end of May 2017, total export turnover of Vietnam reached nearly $US 79.98 billion, an increase of 18.4%, respectively, equivalent to an increase of $US 12.45 billion over the same period in 2016.

The statistics of the General Department of Vietnam Customs also shows that the value of goods exported by FDI enterprises in the second half of May 2017 reached nearly $Ú 7.28 billion, an increase of 33.3%, equivalent to an increase of more than $US 1.82 billion compared to the first period of May 2017, thereby bringing the total export turnover in the first 5 months of 2017 to nearly $US 56.66 billion, an increase of 20 % over the same period in 2016, accounting for 70.8% of the total export turnover of Vietnam.

Regarding imports, the total value of imported goods in Vietnam in the second half of May 2017 reached more than $US 9.77 billion, an increase of 12.1% (equivalent to $US 1.05 billion) compared to the first half of May 2017.

Import turnover of goods in the second half of May 2017 increased over the first half of May 20117 mainly in the following commodities: computers, electronic products, and components increased by 17.1 %, equivalent to an increase of $US 232 million; machinery, equipment, and spare parts increased by 10.7%, equivalent to an increase of $US 177 million; phone accessories and parts increased by 33.9%, equivalent to an increase of $US 159 million; cashew nut increased by 126.2%, equivalent to an increase of $US 113 million; petrol and oil of all kinds increased by 39.1%, equivalent to an increase of $US 89 million. Meanwhile, the feed and material group fell by 46.9%, a decrease of $US 81 million, soybeans fell by 65%, a decrease of $US 25 million; coal fell by 45.4%, equivalent to a decrease of $US 24 million.

Thus, by the end of May 2017, the total import turnover of Vietnam reached more than $US 82.47 billion, an increase of 24.7% (equivalent to nearly $US 16.32 billion) compared to the same period in 2016.

The value of imported goods of FDI enterprises in this period reached nearly $US 5.85 billion, an increase of 10.6%, equivalent to an increase of $US 560 million compared to the first half of May 2017, thereby bringing the total import turnover of these enterprises in the first 5 months of 2017 to reach more than $US 49.84 billion, an increase of 28.1%, equivalent to nearly $US 10.94 billion compared to the same period in 2016.

By Ha Nhi/ Hoang Anh

Source: http://customsnews.vn/

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59 AEOS CONTRIBUTED AN IMPORT-EXPORT TURNOVER OF $ US 94 BILLION

VCN – Each authorised economic operators (AEO) contributed an import-export turnover of nearly $ US1.6 billion on average. 

59 aeos contributed an import export turnover of us 94 billion

Chart. Thai Binh

This was remarkable information prepared by the General Department of Customs for the Prime Minister with Enterprise Conference in 2017 (on May 17, 2017)

According to the General Department of Customs, the implementation of AEOs regime was one of the important solutions to facilitate the business community.

The business community shall enjoy specific benefits (under the regulations of the Customs Law, Law on Import-Export Duty and guiding documents) as certified as AEOs such as: Free of inspection for relevant documents in the Customs dossiers, free of physical inspection during the implementation of Customs procedures except violations cases or inspection by accident to assess the law compliance.

Also, the AEOs are permitted to implement the Customs procedures through incomplete Customs clearances or other documents replacing the Customs clearances; and are given priority to implement the tax procedures in accordance with the law.

The Post Clearance Audit Department under the General Department, which hosted the AEO program, reported that the country’s total current AEOs are 59 enterprises. In 2016, the total import-export turnover of these enterprises reached $US 94 billion.

Thus, the total import-export turnover of AEOs accounted for 26.8% of the country’s total import-export turnover last year (the country’s total turnover reached $ US 350.74 billion).

Among of certified AEOs, there are 24 domestic enterprises, 13 Japanese invested enterprises, 9 Korean invested enterprises and some enterprises under the countries: US, Switzerland, Denmark, Hongkong, Taiwan, Italy, Singapore and joint enterprises.

By Thai Binh/ Huyen Trang

Source: http://customsnews.vn/

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VIETNAM’S EXPORTS STILL DOMINATED BY FDI FIRMS

The turnover of foreign invested firms continues to dominate Vietnamese exports despite a decline seen in the first half of April latest statistics show

vietnams exports still dominated by fdi firms

According to the General Department of Customs (GDC), as of April 15, exports by FDI firms reached nearly US$10.87 billion, down 13% month-on-month.

Despite the fall, however, the sector accounted for 65.1% of the total export turnover this year (January 1 to April 15, 2017) at US$70.05 billion, which marked an increase of 10.95% over the same period in 2016.

FDI firms in the country now have an accumulated 2017 trade surplus of US$3.92 billion, making them significant contributors to national export value.

Meanwhile, Vietnam’s total export from the April 1 to April 15 was US$16.37 billion, a month-on-month drop of 13.9%.

This took total exports for this year to more than US$107.58 billion, an increase of nearly US$16.76 billion or 18.5% over the same period in 2016.

However, the months leading to April 15 have seen a trade deficit of US$2.56 billion, about 4.9% of export value.

On the other hand, Vietnam’s imports from January 1 to April 15, 2017 reached US$55.07 billion, up 23.1% over the same period last year.

Accumulated import turnover for FDI firms reached more than US$33.06 billion, up 23.7% year on year, accounting for 60% of the nation’s total imports.

The GDC report said the manufacturing sector will grow significantly with the opening of new FDI factories, on top of a record FDI disbursement of US$15.8 billion in 2016. The construction sector should benefit in particular from higher FDI disbursements as also continued public investments in the energy and transport sectors.

The first quarter has also saw foreign firms add US$7.71 billion in newly registered and supplemental capital. They increased their capital contribution and share purchases by 77.6% over the same period in 2016, with US$2.9 billion for 493 newly registered projects and US$3.9 billion for adding capital to 223 existing projects.

On the domestic front, export value for certain goods showed strong declines: steel was down 62%; computer, electronic parts and accessories, down 27.8%, textiles, down 20.4%; wood products, down 23.8%.

Only a few goods showed improvement in export value. Rice was up 6.5% and mobile devices and accessories went up three percent.

Source: VNA