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Vietnam’s Commerce Overview (April, 2021)

22/04/02021 | BY linhnt

Vietnam’s total retail sales of consumer goods and services in April reached 409.4 trillion VND, up 2.3% from the previous month and 30.9% over the same period last year. Generally, for the first 4 months of 2021, the total retail sales of consumer goods and services reached 1,695.6 trillion VND, increasing by 10% from the same period last year. If excluding the price factor, it would increase by 9.03%.

It is estimated that in April 2021, export turnover of goods reached 25.5 billion USD, which is a fall of 14% from the previous month and a rise of 44.9% over the same period last year. For the first 4 months of 2021, export turnover was estimated at 103.9 billion USD, up 28.3% over the same period last year. There were 19 items with an export turnover of over 1 billion USD, accounting for 84.5% of the total export turnover.

Regarding the structure of goods export for the first four months of 2021, the export value of heavy industrial and mineral products was estimated at 57.58 billion USD, up 33% over the same period last year. That of light industry and handicraft products was estimated at 36.6 billion USD, up 27.5%. Export turnover of agricultural and forestry products reached 7.33 billion USD, up 8.8% while that seafood products reached 2.39 billion USD, up 6.1%.

The United States was the largest export market of Vietnam with a turnover of 30.3 billion USD, an increase of 50.1% over the same period last year; followed by China with 16.8 billion USD, up 32.4%; EU market with 12.6 billion USD, up 18.1%; the ASEAN market with 8.8 billion USD, up 13.3%; South Korea with 6.9 billion USD, up 12.1%; and Japan with 6.5 billion USD, up 1.5%.

In April 2021, import turnover of goods was estimated to reach 27 billion USD, which is a drecrease of 5.1% over the previous month and an increase of 43.5% over the same period last year. For the first 4 months of 2021, Vietnam’s import turnover was estimated at 102.61 billion USD, up 30.8% over the same period last year. There were 19 imported items with a turnover of over 1 billion USD, which accounted for 77.4% of the total import turnover.

In terms of goods import structure for the first four months of 2021, import value of materials for production was estimated at 96.31 billion USD, increasing by 31.4% over the same period last year and accounting for 93.9% of the total import turnover of goods.

China is still the largest import market of Vietnam with a turnover of 33.1 billion USD, up 47.8% over the same period last year; followed by Korea with 16.9 billion USD, up 16.9%; ASEAN market with 14.1 billion USD, up 48.2%; Japan with 7.2 billion USD, up 10.5%; EU market with 5.3 billion USD, up 16.6%; and the United States with 5.1 billion USD, up 7.9%.

March 2021 saw a trade surplus of 1.2 billion USD while in April, Vietnam suffered from a trade deficit of 1.5 billion USD. It is estimated that in the first 4 months of 2021, there was a trade surplus of 1.29 billion USD.

 

Source: https://vietnamcredit.com.vn/news/vietnams-economic-overview-april-2021_14373