31 October 2023

According to the latest data of the General Department of Customs, by mid-October, the import and export turnover of goods nationwide reached approximately 523 billion USD.

Specifically, from October 1-15, the country's exports reached 14.2 billion USD. Among Vietnam's key export commodity groups, there are 4 groups with turnover from 1 billion USD in the first half of October.

Leading the way are phones and components with 2.55 billion USD, thereby raising turnover from the beginning of the year to 15/10 to 41.47 billion USD. This is followed by computers, electronic products and components; machinery, equipment, tools, spare parts; Textile...

Accumulated from the beginning of the year to October 15, the country's export turnover reached 272.74 billion USD, down more than 24 billion USD over the same period last year.

In terms of commodities, notably, in the first half of October (October 1-15), fruit and vegetable exports earned 349.52 million USD, thereby raising the turnover from the beginning of the year to 15/10 to 4.56 billion USD, up 75.4% over the same period last year, equivalent to an increase of nearly 2 billion USD.

Since the beginning of the year, vegetables and fruits have had the most impressive growth in Vietnam's key export groups.

Notably, in the last months of the year, fruit and vegetable exports are continuing to have a remarkable acceleration. According to Mr. Dang Phuc Nguyen - General Secretary of the Vietnam Fruit and Vegetable Association, in the remaining months of 2023, while durians of other countries in Southeast Asia are out of season, Vietnam still has durian areas in the Central Highlands that have not been exploited. This will be a great opportunity for the largest export item of the fruit and vegetable industry to continue to increase turnover in the near future.

Another commodity is also showing signs of easing difficulties. In 8 months, the country's textile and garment export turnover is estimated at 26.93 billion USD, down 15.6% over the same period in 2022.

The Ministry of Industry and Trade assessed that this decrease slowed down compared to the decrease of 16.89% in 6 months compared to the same period in 2022; slowed down from a decrease of 17.62% in 5 months, but an increase of 2.55% compared to the first 8 months of 2019.

World textile and garment demand in 2023 is likely to decrease by 8-10%, which will have a strong impact on Vietnam's textile and garment exports this year and the first months of 2024. The Vietnam Textile and Garment Association (VITAS) said that Vietnam's textile and garment export turnover for the whole year 2023 is estimated at 40 billion USD, down 10% compared to 2022.

However, Vietnam's textile and garment export and import activities are showing positive signals and are likely to recover in the coming months. It is known that recently, partners from Europe, Northeast Asia, Southeast Asia... Come to find out that garment products tend to increase rapidly compared to previous months. Exports to the US and EU markets also prospered.

In the opposite direction, imports of goods in the period of October 1 reached 12.84 billion USD, thereby bringing the total turnover from the beginning of the year to 15/10 to 250.2 billion USD, down nearly 40 billion USD over the same period last year.

The results achieved in the first half of October brought the total import and export turnover of the country from the beginning of the year to October 15 to approximately 523 billion USD, the trade balance reached a surplus of 22.54 billion USD.

Previously, in 2022, the total value of import and export of goods of Vietnam reached 730.2 billion USD, up 9.1% (equivalent to an increase of 61.2 billion USD) compared to 2021. In which, the export value was 371.3 billion USD, up 10.5%, equivalent to an increase of 35.14 billion USD over the previous year; import value was 358.9 billion USD, up 7.8%, corresponding to an increase of 26.06 billion USD. This is a record import and export level ever.

Source: congthuong.vn