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MAJOR EXPORT COMMODITY GROUPS IN THE FIRST SEVEN MONTHS OF 2017

VCN – According to Vietnam Customs, in the first seven months of 2017, 21 among 45 commodity groups reached an export turnover of over US$ 1 billion. In which, the ten largest export commodity groups reached US$ 82.52 billion, accounting for 71.6% of the country’s total export turnover. 

major export commodity groups in the first seven months of 2017
The ten largest export commodity groups in the first seven months of 2017 compared to same period 2016

Mobile phones and components: The export turnover of this group in July was US$ 3.07 billion, down by 4.9% compared to the previous month, bringing the export turnover of this group in the first seven months of 2017 to US$ 22.56 billion, up 14.8% over the same period last year.

This commodity was mainly exported to the United State with a turnover of US$2.24 billion, down 4.0% compared to the same period of last year; the United Arab Emirates with a turnover of US$ 2.24 billion, down by 13.4% and South Korea with a turnover of US$ 2.03 billion, up by 34.5%.

Textile and garment: reaching an export turnover of US$ 2.46 billion in July 2017, up 3.8% over the previous month, bringing the export turnover of this commodity group in the first seven months of 2017 to US$14.19 billion,up 8.1% over the same period last year;

In the seven months of 2017, 48.8% of the country’s textile and garment value were exported to the United States with a turnover of US$ 6.92 billion, up 6.3% over the same period last year. Followed by the EU (28 countries) with a turnover of US$ 2.08 billion, up 2.7%; and Japan ranked third with a turnover of US$1.65 billion, up 6.9% …

Computers, electronic products and components: Export turnover reached US$ 2.09 billion, up 1.7 % over the previous. Thereby, bringing the export turnover of this group in seven months / 2017 to US$ 16.64 billion, up 43.7% over the previous month.

In the seven months, computers, electronic products and components were mainly exported to China with US$ 3.36 billion, twice as much as the same period last year; The United States with US$ 1.68 billion, up 3% and Netherlands with US$ 1.13 billion, up 26.5% …

Footwear: Exports of footwear of all kinds reached US$ 1.3 billion in July, 2017, down 6.4% over the previous month, bringing the export value of this commodity group in seven months of 2017 to US$ 8.34 billion, up 12.2% over the same period last year.

Vietnam’s footwear import markets in the first seven months of 2017 were the US market with over US $ 2.89 billion, an increase of 13.2% over the same period last year; the EU market with nearly US$ 2.69 billion, up 8.6%; and China market with US$ 623 million, up 30.2%; …

Machinery, equipment and other accessories: Export turnover reached $ 1.06 billion in May, up 3.5% over the previous month. Thereby, export turnover of this group in 7 months / 2017 reached $ 6.99 billion, up 30.7% over the same period last year;

In the seven months of 2017, machinery, equipment and spare parts were mainly exported to the following markets: the United States reached US$ 1.42 billion, up 24.5% over the same period last year ; and Japan reached US$ 976 million, up 14.5%; China reached US$ 915 million, up 71.8%; …

Seafood: The total seafood export turnover of Vietnam in July 2017 reached US$ 796 million, up 7.5% over the same period last year. In the first seven months of 2017, Vietnam exported US$ 4.38 billion of seafood, a year-on-year increase of 19.3%, equivalent to US$ 707 million.

By the end of July, 2017, the United States continued to be the leading importer of Vietnamese seafood imports with a total turnover of UD$ 790 million, up nearly 4% over the same period last year. In particular, in the first seven months of 2017, seafood exports to China increased sharply to US$ 543 million, up 57.1 % from the seven months of 2016.

Wood and wood products: reaching an export value of nearly US$ 599 million, down 5.4% compared to June 2017, bringing the export value of this group in the seven months, 2017 to US$ 4.25 billion, up 12.3% over the same period last year.

In the first seven months of 2017, wood and wood products were mainly exported to the following markets: the United States with US$1.78 billion, up 18.9% over the same period last year; China with US$ 628 million, up 17.7% and Japan with US$ 584 million, up 5.9%;

By Ha Nhi/ Huyen Trang

Source: http://customsnews.vn

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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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HUNDREDS OF CARS AND MOTORCYCLES ARE ADDED TO THE REGISTRATION FEE CALCULATION TABLE

VCN- On 24th May 2017, the Ministry of Finance issued Decision No. 942 / QD-BTC amending and supplementing the list of registration fee calculation, issued with Circular No. 304/2016/TT- BTC.

hundreds of cars and motorcycles are added to the registration fee calculation table
The MCLAREN 650S SPIDER has the highest registration fee of 22.02 billion vnd.

In the imported vehicles which have been added, the MCLAREN 650S SPIDER has the highest registration fee of 22.02 billion vnd, followed by BENTLEY FLYING SPUR with 19.5 billion vnd; and MCLAREN 570S with 12.57 billion vnd.Accordingly, the Ministry of Finance has supplemented the registration fee calculation price of 135 types of imported cars of 9 seats or less; 19 types of cars of 9 seats or less assembled domestically; 2 types of imported electric cars; 2 types of 4 wheel vehicles with engines built and assembled domestically; 29 types of imported two-wheel motorcycles; and 127 types of two-wheeled motorcycles produced and assembled domestically.

Some imported new cars have been added in this price list such as Audi Q7 3.6 QUATTRO with 2.734 billion vnd; AUDI A7 SPORTBACK 3.0 TFSI QUATTRO with 3.427 billion vnd; BMW X6 xDRIVE 35i M SPORT with 3.446 billion vnd; CHEVROLET CORVETTE STINGRAY COUPE 2LT Z51 with 5.06 billion vnd; FORD F150 LARIAT with 3.65 billion vnd; JAGUAR XJL AUTOBIOGRAPHY with 11.086 billion vnd; LAND ROVER DISCOVERY HSE LUXURY with 4.68 billion vnd, and LEXUS RX350 F SPORT AWD with 4.15 billion vnd.

In addition, the Ministry of Finance has amended the registration fee rates for 27 types of imported cars of 9 seats or less, 3 types of cars of 9 seats or less assembled domestically; 3 types of imported two-wheel motorcycles; 7 types of two-wheeled motorbikes produced or assembled domestically.

This price list is amended and supplemented because the emergence of automobiles and motorbikes has not been yet regulated in the price list issued by the Ministry of Finance.

In addition, other contents are still implemented in accordance with Circular 304. In fact, the actual price of transfer of cars and motorbikes in the market is lower than the price for calculation of registration fee issued by the Ministry of Finance, so the registration fee calculation price is the price in accordance with the price list issued by the Ministry of Finance.

In the case where at the time of submitting registration fee declarations, the actual transfer price of automobiles and motorbikes on the market shall be 20% or higher than the current price list currently applied in registration fee calculation prices as specified in the price list issued by the Ministry of Finance, the tax office shall base on the registration fee of automobiles and motorcycles already available at the price table and at Point a, Clause 3, Article 3 of the Minister of Finance’s Circular No. 301/2016 / TT-BTC of 15th November 2016 to determine the registration fee calculation price as prescribed.

In the case where automobiles and motorbikes have not been yet prescribed in the price index promulgated by the Ministry of Finance, the Tax Department shall notify the local Tax Branches about the prices for registration fee calculation applicable uniformly in the localities.

This decision has been formally adopted by 24th May 2017.

By Hong Van/ Hoang Anh

Source: http://customsnews.vn/

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EARNING NEARLY $US 50 BILLION, FDI ENTERPRISES ARE LEADING IN EXPORTS

VCN- $US 49.398 billion is the total value of export turnover of foreign direct investment (FDI) enterprises, accounting for about 71% of the total export turnover of Vietnam. This is the value of export turnover until 15th May 2017, according to the latest information from the General Department of Vietnam Customs.

earning nearly us 50 billion fdi enterprises are leading in exports
Opeartions at Sam Sung Group, Bac Ninh. Photo: Thai Binh.

Notably, compared to the same period last year, the proportion of turnover of FDI enterprises increased by 1% point (about 70% in the same period).

With a growth rate of 19%, FDI enterprises has a higher growth rate than the national average of 17.6%.

The strong growth of FDI enterprises is understandable because these enterprises are leading in the major export sectors of Vietnam such as telephones, computers and electronic products.

On the other hand, in the AEO Enterprises Program in the field of Customs (for large and prestigious exporters), 35 out of 60 enterprises are FDI enterprises.

Or in many big localities with large exports such as Bac Ninh, Thai Nguyen, Binh Duong and Dong Nai, the value of turnover mostly depends on FDI enterprises.

For example, in the case of Thai Nguyen, before the appearance of Samsung, this province is almost unnamed on the map of “exports” of Vietnam.

But now, Thai Nguyen has reached the second largest export province in 63 provinces and cities (after Ho Chi Minh City) in value of export turnover.

Mrs. Nguyen Thi Thanh Hao, the Head of the Division of Import-Export Management and International Economic Integration (the Thai Nguyen Department of Industry and Trade) said that the main export products in Thai Nguyen were telephones and tablets of Samsung Group.

According to Mrs. Nguyen Thi Thanh Hao, the spectacular breakthrough in export activities of Thai Nguyen in recent years is thanks to the efficiency in investment activities of Samsung Group.

“Local traditional export sectors have also improved, but they can not make the breakthrough without the presence of the Samsung Group”, the Head of the Division of Import-Export Management and International Economic Integration said.

By Thai Binh/ Hoang Anh

Source: http://customsnews.vn/

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COMMODITY GROUPS SUBJECT TO PROCEDURES AT IMPORT BORDER GATES ARE HIGH RISK GOODS

VCN- The Prime Minister has just signed Decision No. 15/2017 / QD-TTg of 12th May 2017 promulgating the list of imported goods subject to Customs clearance at the import border gate, including 17 sensitive commodity groups with a high risk level (such as tax administration, specialized management, security, national defense, environment etc.) which need to be strengthened at the border. How will the new regulation change Customs procedures of enterprises?

commodity groups subject to procedures at import border gates are high risk goods
Import-export activities at Da Nang port. Photo: Ngoc Linh.

On 21st January 2015, the Government issued Decree No. 08/2015 / ND-CP detailing and implementing measures to implement the Customs Law on Customs procedures and Customs inspections. Accordingly, Clause 2, Article 4 stipulates: “Based on the situation of export and import in each period, the Prime Minister shall decide on the list of imported goods subject to Customs procedures at import border gates.” In accordance with the Customs Law 2014, Clause 2, Article 4 of the above-mentioned Decree No. 08/2015 / ND-CP, the Ministry of Finance has already reported and submitted to the Prime Minister for promulgation of Decision No. 15/2017 / QD-TTg of 12th May 2017 on the list of goods subject to Customs procedures at import border gates, including 17 sensitive commodity groups with a high risk in management (such as tax administration, specialized management, security, national defense and environment) which need to strengthened at the border.

These goods include: (1) Cigarettes, cigars and other preparations of tobacco for smoking, snoring, chewing and snuffing; (2) alcohol; (3) beer; (4) passenger cars of less than 16 seats; (5) Two-wheeled or three-wheeled motorcycles with a cylinder capacity of over 125 cm3; (6) Aircraft and yachts; (7) Gasoline of all kinds; (8) Air conditioners of 90,000 BTU or less; (9) playing cards; (10) Joss papers; (11) Goods subject to animal quarantine according to the list prescribed by the Ministry of Agriculture and Rural Development; (12) Goods subject to aquatic product quarantine as stipulated by the Ministry of Agriculture and Rural Development; (13) Goods subject to plant quarantine according to the list prescribed by the Ministry of Agriculture and Rural Development; (14) Explosive substances and explosive pre-substances in accordance with the list prescribed by the Ministry of Industry and Trade; (15) Goods affecting security and the national defense according to the list as prescribed by the Ministry of Industry and Trade; (16) Scrap on the list prescribed by the Prime Minister; (17) Goods subject to self-defense, antidumping, anti-subsidy taxes in accordance with regulations of the Ministry of Industry and Trade.

Commodity groups from (1) to (10) are on the list issued with the HS code. For commodity groups from (11) to (17), the HS codes shall be declared and promulgated by the Prime Minister and the specialized management Ministries.

The Decision has also specified various kinds of goods (on the List and not on the List) and the same bill of lading which is subject to Customs clearance at the border gate.

However, with the aim of encouraging enterprises to develop production and facilitate some cases of special-purpose imports, the Decision has also stipulated that imported goods belonging to the list may be conducted Customs procedures at the border gate or other places in the following cases:

First, equipment, machinery and materials imported for the construction of factories or works are subject to Customs procedures at customs offices directly managing factories and warehouses.

Second, raw materials, supplies, equipment, machinery, components and spare parts used for processing and production shall be cleared from Customs offices where the plants or production facilities are located.

Third, temporarily imported goods for participation in trade fairs, exhibitions or product introductions shall be subject to Customs procedures at Customs offices where fairs, exhibitions or products display.

Fourth, the imported goods in the duty-free shops shall be conducted Customs procedures at the customs offices that directly manage the duty-free shops.

Fifth, the goods imported into the non-tariff area shall be conducted Customs procedures at the Customs office managing the non-tariff area.

Sixth, imported goods for emergency aid under Clause 1, Article 50 of the Customs Law shall be transported to places where natural calamities or epidemics occur or emergency relief is requested.

Seventh, specialized goods used for security and the national defence according to the provisions of Clause 2, Article 50 of the Customs Law shall be conducted Customs procedures at Customs offices at the request of the Customs declarants.

Eight, gasoline is taken from the bonded warehouse to the Customs clearance sites where the trader operates a petroleum storage system.

Nine, the imported goods in the same container are cleared at the Customs office managing the retail place.

Ten, other cases as decided by the Prime Minister.

The Prime Minister has assigned the Ministry of Finance to direct the Customs offices to intensify the control high-risk imported goods in the management, ensuring the requirements of tax administration, the national defence and security and the quality of goods on the list of imported subject to Customs procedures at the border gate. This decision comes into effect on 1st July 2017.

By Viet Ha/ Hoang Anh

Source: http://customsnews.vn/

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A DEFICIT OF MORE THAN $ US1.89 BILLION

VCN – The higher increase of import turnover causes a big trade deficit for Vietnam. 

a deficit of more than us189 billion

Machinery and equipment become Vietnam’s largest imported commodities. In the photo: Excavators imported to Hoang Dieu Port, Hai Phong. Photo: T. Binh

According to statements from the General Department of Customs on 9 May 2017, the country’s total import-export turnover in April 2017 reached nearly $ US 34.91 billion, down by 1.9 % compared to the previous months. Thereby, bringing the total import-export turnover of the first four months reached $ US126.1 billion, up by 20.4 % over the same period of 2016.

In which, the total export turnover reached $ US 62.11 billion, up by 16.8% and the total import turnover reached $US 64 billion, up by 24%. Therefore, by the end of April 2017, Vietnam’s deficit was near $ US1.89 billion.

According to the General Department of Customs, there was a remarkable movement in some imported commodity groups such as: Machinery and equipment continuously increased by 5.7% compared to the previous month with the turnover of $ US 3.44 billion and accumulated to the end of April, 2017, reached $ US 11.505 billion and this group became the country’s largest imported commodity group.

Meanwhile, the CBU car with many attractions continued to drop with a decrease of 38.1% in volume and 7% in value. In the past four months, the country imported 33,404 CBU cars of all kinds with total turnover of more than $ US 663 million

For exports, mobile phones and part thereof were still the largest exported commodities with a total turnover of $ US 12.148 billion, up by 6.9% over the same period last year.

Although Textile and Garment still remained its position at rank No. 2 (reaching $ US 7.478 billion), it was closely followed by electronic products and parts thereof with a small distance of only $ US 128 million.

By Thai Binh/ Huyen Trang

Source: http://customsnews.vn/

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VIETNAM RETURNS TO IMPORT SOME AGRICULTURAL PRODUCTS FROM INDIA

VCN- From May 10, 2017, the Indian agricultural products which were suspended from import will be imported into Vietnam again.

viet nam nk tro lai mot so mat hang nong san tu an do
The Indian agricultural products which were suspended from import will be imported into Vietnam again.

The Ministry of Agriculture and Rural Development (MARD) has issued Decision No.1644/ QD-BNN-BVTV on continuing to import of high-risk commodities carrying serratus from India. Agricultural products include: Groundnut (Arachis hypogaea), Cassiatora (Cassia spp), Cocoa bean (Theobroma cacao), Common Bean (Phaseolus spp) and Tamarind (Tamarindus indica).

The Plant Protection Department notifies the Indian phytosanitary authorities to strengthen phytosanitary to strictly prevent entities subject to phytosanitary in the export goods to Vietnam.

At the same time, strengthening the phytosanitary measures for the above agricultural products from India to ensure that entities subject to the phytosanitary cannot enter Vietnam.

Earlier, on March 1, 2017, the Ministry of Agriculture and Rural Development issued a document No. 558/QD-BNN-BVTV on temporary import of these agricultural products due to the high risk of infection with Caryedon serratus Olivier which can cause a great damage to the agricultural products in stock, cause damage to Goundnuts, Cassiatora, Cocoa bean, Common beans and Tamarind.

By Xuan Thao/ Ngoc Loan

Source: http://customsnews.vn/

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IMPORTED GOODS TO CONTRIBUTE CAPITAL ARE NOT REQUIRED TO PAY VAT

VCN- Enterprises which contribute capital to establish are not required to declare and pay VAT in accordance with Point a, Clause 7 of Circular 219/2013 / TT-BTC.

imported goods to contribute capital are not required to pay vat
Customs operations at Cai Lan port, Quang Ninh province. Photo: Thu Trang.

That is a response of the General Department of Vietnam Customs for the proposal of Nghi Phong Joint-Venture Company Limited to import machinery and equipment to Vietnam to contribute capital without paying VAT on import.

According to analysis of the General Department of Vietnam Customs, Article 2 of Circular 219/2013 / TT-BTC guides the implementation of the Law on Value Added Tax as follows: The taxable objects are goods and services used for production, business and consumption in Vietnam (including goods and services purchased from organizations and individuals overseas), excluding those not subject to VAT as provided in Article 4 of this Circular.

In addition, Article 3 of Circular 219/2013 / TT-BTC also stipulates: “VAT payers are organizations and individuals producing and trading goods and services subject to VAT in Vietnam, without discriminating types of business, form, and organization of business (hereinafter referred to as business establishments) and organizations and individuals importing goods or purchasing services from abroad which are subject to VAT (hereinafter referred to as importers), including … “.

Accordingly, under Article 2 and Article 3 of Circular No. 219/2013 / TT-BTC, when importing goods into Vietnam, enterprises must pay VAT on import, excluding those not subject to VAT guided in Article 4 of this Circular. Then, enterprises which contribute capital such as fixed assets to establish are not required to declare and pay VAT under Point a, Clause 7, Article 5 of Circular No. 219/2013 / TT-BTC.

By Thu Trang/ Hoang Anh

Source: http://customsnews.vn/

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COAL EXPORTS INCREASED BY NEARLY 7 TIMES IN QUANTITY

VCN- This is noteworthy information related to export activities Vietnam in the first months of 2017.

coal exports increased by nearly 7 times in quantity
Coal exports increased by nearly 7 times in quantity.

According to the General Department of Vietnam Customs, from the beginning of 2017 to 15th April 2017, the total coal exports reached 504,663 tons with the total value of $US 79.438 million.

Thus, compared to the same period in 2016, the total volume and value of coal exports have increased strongly. In particular, the total coal export volume increased by 6.7 times and the value of coal exports increased by more than 13 times.

With the total value of exports increased more than the output, the average export price of this commodity also increased compared to the same period last year.

Specifically, the average price of coal exports in the same period in 2016 was only $US 79 per ton, while in 15th April 2017, coal exports soared to over $US 157 per ton.

Notably, many years ago, China was one of the major markets importing Vietnam’s coal. However, from early 2017 to date, China has been no longer import market of Vietnam.

According to the General Department of Vietnam Customs, by the end of first quarter of 2017, the major import markets of Vietnam’s coal had been Japan, Indonesia, Taiwan, Malaysia and South Korea.

By Thai Binh/ Hoang Anh

Source: http://customsnews.vn/

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VIETNAM-LAOS TRADE TENDS TO DECREASE

VCN- Although Vietnam’s export to Laos has maintained the stable growth rate, in the overall, the trade relations between the two countries are on the downward trend.

 
Chart show the import-export turnover between Vietnam and Laos from 2013 to the first quarter in 2017, the unit calculated “million USD”. Chart: T. Binh.

Cannot reach the level of “billion USD”.

The statistic results of the General Department of Customs show that in 2011, the total value of export turnover between Vietnam and Laos stopped at $US 734 million. Of which, the exports of Vietnam were $USD 274 million, and the imports from the neighbouring country were $USD 460 million.

But by 2013, the total trade value between the two countries has grown to $US 1.091 billion. Of which, Laos maintained its trade surplus with a surplus of $US 245.7 million.

The “billion USD” mark has been maintained for three straight years (2013, 2014 and 2015). In particular, 2014 reached the highest figure of $US 1.287 billion and the import turnover from Laos were $US 802 million and the exports of Vietnam to the neighbouring country reached $US 485 million.

In 2015, the turnovers started to slowdown. Although it was still keeping the total value of over $US 1 billion, the results for the whole year were reduced by $US 166 million compared to the previous year ($ 1.121 billion).

And by the last year, the foreign trade between the two countries has been removed from the “billion USD” milestone set up three years ago, as the turnover only reached $US 823 million.

The main reason for this decline is that imports of goods from Laos are continuously decreasing.

In particular, from $US 802 million in 2014, the imports of goods from the neighbouring country dropped to $US 587 million by 2015 and only reached $US 345.3 million in the last year.

So, in just 3 years (from 2014 to 2016), the imports from Laos decreased by $US 456.7 million, equivalent to a decline of 57%.

In terms of quantity of goods, the goods imported from Laos are quite modest and monotonous with 5 main groups: Maize; ore and other minerals; fertilizer; Wood, wood products; Ordinary metals.

Looking at the fluctuation of the import and export activities between Vietnam and Laos over time, it is easy to see the dependence on a few items (especially the imports from Laos mainly depends on wood, wooden products). Therefore, when these groups have several changes in turnover, it will greatly affect the trade turnover between the two countries.

Opportunities to export of Vietnam

In the context of trade relations between the two countries showing signs of going down, we realize that there are still signs of optimism. That is the stable growth of the exports of goods from Vietnam to Laos. The growth is in both turnover value and commodity category.

In 2011, Vietnam had only 10 groups of goods exported to Laos in 2011, but by 2016 this number increased to 17 groups. Among them, in 2016, there were 7 groups of goods with the turnover of $US 10 million or more. The largest was iron and steel reached $US 76 million; followed by gasoline at $US 61.5 million; vehicles of transportation and spare parts reached $US 50.5 million …

On the other hand, in terms of turnover value, compared with 2011, the total value of the Vietnam’s exports to Laos in 2016 increased by 74%, equivalent to an increase of $US 204 million.

The export results of Vietnam to Laos in particular and the trade relations between the two countries in general are modest compared to the total value of export turnover of hundreds of billions USD a year in our country, but with a small as Laos, the changes as mentioned above are also remarkable.

In the first quarter in 2017, the total value of export and import turnover between the two countries reached $US 236 million, of which the exports of Vietnam were $US 135 million, and the imports were $US 101 million.

The results above have decreased slightly by $US 13 million compared to the same period in 2016, because while the export turnover of our country increased by $US 2 million, the import turnover went down by $US 15 million.

By Thái Bình/Kiều Oanh

Source: http://customsnews.vn/