26 July 2023

Computers, electronic products and components are the commodity groups that continue to maintain the largest import turnover.

According to the General Department of Customs, in the first half of July (July 1-15), the import turnover of goods tends to increase compared to the second half of June 2023.

Specifically, in the first half of July, import turnover reached 13.4 billion USD, up 5.5% compared to the second half of June 2023, equivalent to an increase of about 700 million USD. 

Two groups of imports with turnover of 1 billion USD or more in the first half of July are computers, electronic products and components; machinery, equipment, tools, spare parts.

In which, computers, electronic products and components continued to remain the group with the largest turnover with 3.7 billion USD, while machinery, equipment, tools and spare parts reached 1.71 billion USD.

Other import groups with large turnover reaching hundreds of millions of USD such as coal, crude oil, fabric, iron and steel, phones and components...

The increase in imports of goods is expected to be the driving force for the production and export of goods in the near future.

Although there was an upward trend in the first half of July, from the beginning of the year to July 15, import turnover still decreased sharply compared to the same period last year. Specifically, by July 15, import turnover only reached 165.2 billion USD, down 37.2 billion USD over the same period last year.

In the opposite direction, goods exports in the first half of July reached 13.81 billion USD, down 12% over the same period. Accumulated from the beginning of the year to the first half of July, merchandise export turnover reached 178.45 billion USD, down 11.4% over the same period.

In an effort to promote import and export in the second half of the year, the Ministry of Industry and Trade is finally organizing a series of events "Connecting international supply chains of goods" (Viet Nam International Sourcing 2023) in Ho Chi Minh City in September 2023. The series of events is an activity to actively implement the Project "Promoting Vietnamese enterprises to directly participate in foreign distribution networks until 2030" approved by the Prime Minister in Decision No. 1415/QD-TTg dated November 14, 2022.

The event is expected to attract 8,000 visitors, trading with 150 international delegations from 30 countries and territories. The organizers also coordinate with localities to bring purchasing delegations to survey businesses in some localities.

The event expects to effectively support businesses in their efforts to participate more deeply in global production and supply chains, export directly to foreign distribution networks; Invest methodically to innovate the production process from input materials to machinery and equipment, thereby producing value-added products with good quality.

Information from the organizer, at this time, a series of hypermarkets, foreign retail distributors are making lists to buy food, textiles, shoes, backpacks, sporting and picnic goods, household appliances and furniture... from Vietnamese suppliers.  Large retail groups such as Aeon, Uniqlo (Japan); Walmart, Amazon, Boeing, AES (USA), Carrefour, Decathlon (France); Central Group (Thailand); Coppel (Mexico) ... confirmed presence at the event connecting international supply chains of goods.

In addition to aiming to promote exports, Viet Nam International Sourcing 2023 also has more side activities to support businesses to improve their capacity and develop sustainably when entering the global market. Leading experts from Europe will have a virtual training session for exhibitors on August 15, 2023 and face-to-face consultation at SECC on September 12, 2023 to prepare businesses to make the best use of networking opportunities just before the event begins.

Viet Nam International Sourcing 2023 is not only an important export promotion and market development event, but also a place to meet and exchange experiences of businesses. The organizers hope that many agreements and commercial transactions will be successfully signed at the event, the participants will meet many partners, customers and have more business ideas suggested after the forums and seminars,... so that Viet Nam International Sourcing 2023 becomes a prestigious business meeting point for businesses, contributing to bringing Vietnamese goods and products far in the global market.

Source: congthuong.vn