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Imports and exports register strong growth, both surpassing US$100 billion mark

VGP – By the end of April, Viet Nam’s imports and exports both surpassed the US$100 billion mark, with the country enjoying a trade surplus of US$1.63 billion in the first fourth months of the year, according to the General Department of Customs.

May 14, 2021 5:01 PM GMT+7

Despite showing a decreasing trend compared to March, imports and exports remained at a high level last month.  

Specifically, the export turnover dropped 10.5% month-on-month to reach US$26.55 billion, which stemmed from the decline recorded among a series of key commodities, especially the “US$5 billion” groups, including phones and spare parts; computers, electronics products and components; machinery, equipment and accessories; garments & textiles; and timber products. Meanwhile, the import revenue stood at US$27.77 billion, down 2.4% compared to the March figure.

Viet Nam reported six groups of goods with an import value of US$1 billion and above each in April, half of which posted decreased revenue and the remaining half registered positive growth.

The most imported product category was computers, electronic products and components with US$5.68 billion, down 4.7% against the previous month, while the import turnover of machinery, equipment and accessories also fell 2.3% to reach US$3.92 billion.

The imports of plastic materials hit more than US$1 billion, down 17.4% month-on-month.

Despite a trade deficit of US$1.22 billion in April, Viet Nam enjoyed a trade surplus of US$1.63 billion in the January-April period, with the fourth-month export revenue reaching US$104.94 billion, up 29.6% year-on-year, and the import turnover moving up 31.8% to US$103.31 billion.

In the context of the complicated COVID-19 evolution threatening to affect export activities, the Vietnamese Minister of Industry and Trade recently sent an official letter to the Minister of Industry and Trade of Laos, the Minister of Commerce of Cambodia, and the Director of China’s General Administration of Customs asking for close coordination in implementing the model of customs clearance at land border gates in the direction of both preventing the pandemic and facilitating smooth goods circulation.

In addition, the Vietnamese Ministry of Industry and Trade will continue to work with the partner ministries and border localities to closely monitor the COVID-19 fight situation and the clearance of import and export goods through land border gates with Laos, Cambodia and China, in order to promptly detect difficulties and handle them, for the safety of the people and for the interests of farmers, consumers and exporting businesses.

By Vien Nhu