Trade in 19 southern provinces in August plummeted by 23% to US$18.5 billion month-on-month due to the turbulence of the Covid-19 pandemic and the implementation of social distancing measures, said the General Department of Vietnam Customs (GDVC).

Exports in 19 local customs departments fell in January-August. Chart by: Thai Binh.

19 southern localities see 10% tumble in trade

According to the GDVC, the turnover in 19 southern local customs departments accounts 45% of total trade across the country.

The trade in the local customs departments sharply fell by 30% compared with June. The three major customs departments showed the plunge in trade. HCM City Customs dropped by 39.3% in export turnover and 15% in import turnover; Dong Nai Customs Department fell 40.4% in import and 16.3% in import, while Binh Duong Customs Department declined by 48% in export and 31% in import.

In contrast to the southern localities, the trade in Bac Ninh Customs Department saw a strong recovery after the province contained the pandemic.

In July, export turnover increased by 58% to US$7.2 billion and import turnover surged by 19% to US$5.5 billion compared to June.

The department reported that in August, the exports soared by 22% month-on-month to US$8.8 billion and imports to US$6.7 billion.

Imports in 19 southern provinces between January and August. Chart: Thai Binh

Total trade hit US$ 430 billion

The total trade of the country in August fell 4.2% to US$54.57 billion from the prior month.

Between January and August, the Vietnam’s exports increased 27.5% to US$429.68 billion compared with the same period of the previous year.

The country faced a trade deficit of US$109 million in August. Between January and August it had a trade deficit of US$2.63 billion and a trade surplus of US$13.7 billion.

By the end of August, exports of foreign direct investment (FDI) rose 26.5% to US$156.64 billion from a year ago, imports jumped 36.9% to US$140.78 billion.

Exports of many major item groups in southern provinces saw the sharp decrease meanwhile showing the increase in export of key commodity groups of many factories in northern localities.

Exports of fishery products, wood and wooden products and footwear fell by 30.3%, 39% and 40.2%, respectively.

On the contrary, exports of some commodity groups reported the soar compared with the previous month like iron and steel by 35%, computers, electronic products and components by 14.8%, cameras, camcorders and accessories by 41%.

Import turnover of major commodity group saw a tumble like autos down 29.3%, petroleum products down, 55%, crude oil down 50%.

Rxports to the key markets in August also dropped (excluding to China), including to the US, the EU and ASEAN down 5.1%, 12.2% and 6.4% to US$7.92 billion, US$3 billion and US$2.23 billion, respectively.

Imported goods from China decreased 7% to US$9.18 billion compared with July.