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Export turnover reached nearly US$81 billion, which industry "overcame" difficulties and which group was "in danger"?

Summary

In the first four months of 2020, the total export turnover of the whole country reached US$ 80.86 billion, increasing by 2%, equivalent to an increase of US$ 1.62 billion compared to the same period last year. Which groups contributed the most to export growth across the country and which groups are facing difficulties? The General Department of Customs has released specific figures.

Updated on : 29-06-2020


Export turnover reached nearly US$81 billion, which industry "overcame" difficulties and which group was "in danger"?

export turnover reached nearly us 81 billion which industry overcame difficulties and which group was in danger
Export turnover of five key commodity groups, the unit is "billion USD". Photos, charts: T. Binh.

Two groups with an increase

In the first four months of the year, due to the effects of the Covid-19 pandemic, many export industries faced difficulties with slow growth, and even negative growth, such as phones and components, textiles, etc.

However, data of the General Department of Customs also showed that in the first four months of the year, there were a number of commodity groups dragging the country's export turnover to achieve positive growth, of which two commodity groups achieved an additional increase of a billion dollarscompared to the same period last year. They are computers, electronic products and components; machines, equipment, tools and spare parts.

Specifically, the four-month export turnover of computers, electronic products and components reached US$12.14 billion, rising by 26% compared to the same period in 2019, equivalent to US$2.51 billion.

Thanks to the impressive growth, computers, electronic products and components have overtaken the textile and garment industry to become the second largest export group of Vietnam, after the first four months of 2020.

In the first four months of the year, exports of computers, electronic products and components to China reached US$3.42 billion, increasing by 40.9% compared to the same period last year.

The export to other key markets such as the EU reached US$1.55 billion, down by 6.3%; the United States reached US$2.67 billion, an increase of 2.1 times; Hong Kong market reached US$945 million, up by 33.6%; South Korea reached US$851 million, down by 9.7%.

Meanwhile, machinery, equipment, tools and spare parts reached US$6.78 billion, up by 27.4% compared to the same period last year, equivalent to US$1.46 billion.

The main export markets are: United States with US$2.22 billion, a sharp increase of 71%; the EU reached the value of US$1.07 billion, increasing by 31.7%; Japan with US$655 million, up by 9.4%; South Korea with US$643 million, up by 38.9% compared to the same period in 2019.

In addition, in the first four months of the year, there were a number of sectors with relatively high growth rates such as: toys, sports equipment and parts with US$308 million, up by 76.9%; electric wire and cable increased by US$202 million, equivalent to an increase of 38.9%; wood and wooden products increased by US$159 million, increasing by 5.1%.

Phones, textiles decreased

In addition to a number of commodity groups with good growth, the first four months of 2020 witnessed many key export industries with negative growth, typically all kinds of phones and components.

Although still the largest export group, in the first four months of the year, the export turnover of this groupreached only US$15.38 billion, down by 3.9% compared to the same period in 2019.

In the first four months, phone and spare part export to the EU was US$3.32 billion, down by 24.1%; the United States reached a value of US$2.99 billion, down by 9.7%; South Korea reached US$1.59 billion, down by 4.5%%.

Among the key markets of this group, China had impressive growth of 4.3 times compared to the same period of 2019, reaching a turnover of US$2.73 billion.

Textiles – one of the key groups in the Top 3 also experienced negative growth.

In the first four months, the 3rd largest export commodity group in the whole country was only US$8.65 billion, down by 8.8%.

In terms of market, the United States is still Vietnam's largest export address for textiles and garments with a value of US$3.95 billion, but down by 10.6% compared to the same period last year and accounting for 45.7% of the country's total textile and garment export turnover.

Other markets such as Japan with US$1.17 billion, up by 1.2%; the EU market with over US$1 billion, down by 13.5%.

Along with the downward trend, there were also agricultural products (including vegetables, cashew nuts, pepper, tea, coffee, rice, cassava and cassava and rubber products), with a turnover of US$5.37 billion, down by 3.1% compared to the same period last year.

China is still Vietnam's largest agricultural export market in the first four months of 2020 with a value of US$1.6 billion, down by 19.8% compared to the same period in 2019. Next is the EU market with US$932 million, up by 7.9%; the United States with US$579 million, up by 11.1%.

The agriculture industry also sawthe gloom of aquatic products. In the first four months, seafood export was only US$2.23 billion, down by 8% compared to the same period in 2019.

In particular, Japan is the largest market with US$434 million, up by 5.9%; the United States reached US$377 million, down by 2.1%; the EU with US$336 million, down by 14.3%; China with US$246 million, down by 9.3%.

In addition, the main product group is footwear of all kinds, reaching US$5.36 billion, down slightly by 0.5% compared to the same period in 2019.

The United States and EU are the two main export markets of footwear with turnover and growth rate of US$1.98 billion (slightly down by 0.7%) and US$1.38 billion (down by 6.1%). Overall, the value of footwear exports to these two markets reached US$3.36 billion, accounting for 62.7% of the country's total footwear export turnover.

 

Theo Báo Hải quan

 

 


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