The Ministry of Industry and Trade forecasts that consumer prices may increase after July 1st.

According to the Ministry of Industry and Trade , the goods market in April was more vibrant due to the numerous holidays, leading to increased demand for shopping and entertainment.

The retail market was vibrant in April.

Prices of some food items remained relatively stable thanks to abundant supply, while pork prices increased slightly.

Animal feed, sugar, fuel, and energy prices fluctuated due to price changes.

Total retail sales of goods and services in April were estimated at 522.1 trillion VND, an increase of 9% compared to the same period last year.

The first four months of the year are estimated to reach VND 2,062.3 trillion, an increase of 8.5% compared to the same period last year (the same period in 2023 saw an increase of 13.3%).

Total merchandise exports and imports are estimated at over 238 billion USD, an increase of 15.2%. The trade balance shows a surplus of 8.4 billion USD.

The Industrial Production Index (IIP) is estimated to increase by 6.0% compared to the same period last year.

The Ministry of Industry and Trade believes that, despite achieving positive results, there are still potential issues that need to be monitored and addressed promptly.

Specifically, the Industrial Production Index (IIP) has not fully recovered (9 out of 63 localities still have a decrease in IIP), including key industrial production localities like Bac Ninh, which saw a 5.5% decrease in IIP...

Domestic market growth is lower than the same period last year. The domestic consumer price index may increase after the implementation of salary reforms from July 1st and the adjustment of electricity prices according to the new mechanism.

The export market has recovered but is not yet stable. The sharp fluctuations in exchange rates in April have impacted the import, production, and export plans of various sectors.

Export prices for some agricultural products such as rice, coffee, and pepper have increased sharply, boosting export value but posing a potential risk of supply chain disruption due to the low level of professionalism among businesses and suppliers.

Notably, from May onwards, the peak of the hot and dry season arrives across a wide area, leading to a sudden surge in demand for electricity and fuel.

Cumulative electricity production in the first four months increased by 12.3% year-on-year, exceeding the high-scenario forecast of 8%-9% for the end of 2023; some areas saw production increases of up to 35%-36%.

Countries are diversifying their supply sources beyond China, focusing on several partners comparable to Vietnam such as India, Indonesia, and Bangladesh, increasing competition in Vietnam's export markets...

To address potential challenges, the Ministry of Industry and Trade will continue to coordinate with other ministries and agencies to closely monitor the market and ensure sufficient supply of essential goods for the people. The goal is to prevent shortages and price spikes.

The Ministry of Industry and Trade continues to promptly inform industry associations about developments in the export market so that businesses can adjust their production plans accordingly and orient themselves towards seeking orders from various markets.

Developing logistics services and supporting businesses to shift strongly towards official export channels, coupled with brand building...

plo.vn

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