According to statistics from the General Statistics Office of Vietnam, Vietnam’s imports in March 2020 were approximately USD 19 billion, an increase of 2.3% from February, but a decrease of 10.1% year-on-year. In the first quarter of 2020, Vietnam’s imports amounted to approximately USD 56.26 billion, a decrease of 1.9% year-on-year. Among them, Vietnamese-funded enterprises’ imports amounted to approximately USD 23.08 billion, a decrease of 3.4%, and foreign-funded enterprises’ imports amounted to approximately USD 33.18 billion, a decrease of 0.8%. In the first quarter of 2020, there were 14 imported products with a value of over USD 1 billion, accounting for 72.9% of the total imports, including: imports of electronic products, computers and their components amounted to USD 13.2 billion, an increase of 11.8%; machinery equipment and its components of USD 7.8 billion, a decrease of 8.6%; various telephones and their parts of USD 3.2 billion, an increase of 14.1%; fabrics of USD 2.4 billion, a decrease of 17.7%; plastics of USD 2 billion, a decrease of 6.1%; steel of USD 1.9 billion, a decrease of 16%; plastic products of USD 1.6 billion, an increase of 8.1%; crude oil of USD 1.5 billion, an increase of 67.9%; automobiles of USD 1.4 billion, a decrease of 24.4%; general metals of USD 1.4 billion, a decrease of 7.9%; chemical products of USD 1.3 billion, an increase of 11.7%; chemical raw materials of USD 1.2 billion, a decrease of 0.9%; textile, clothing, footwear and other raw materials of USD 1.1 billion, a decrease of 14.5%; oil products of USD 1.02 billion, a decrease of 17.6%.

 

Regarding the source of imports, China is still the largest import source of Vietnam, with an import value of USD 13.3 billion, a decrease of 18% year-on-year; followed by South Korea with USD 11.7 billion, an increase of 2.4%; ASEAN with USD 7.2 billion, a decrease of 8.3%; and Japan with USD 4.9 billion, an increase of 15.8%; EU with USD 3.4 billion, an increase of 5.2%; U.S. with USD 3.4 billion, an increase of 13%.

 

In the first quarter of 2020, the trade surplus was about USD 2.8 billion, of which Vietnamese-funded enterprises had a deficit of USD 4.4 billion, and foreign-funded enterprises (including crude oil) were USD 7.2 billion.