(kontumtv.vn) – Up to this point, the total import-export turnover of the whole country has reached nearly 580 billion USD, an increase of 16.2% over the same period last year. It is forecasted that by the end of the year, the export turnover value of our country may reach 800 billion USD.

Trade surplus of over 20 billion USD

According to statistics from the Ministry of Industry and Trade , with the recovery of the world market and increased export orders, Vietnam's import and export activities in the first 9 months of 2024 have improved and achieved positive results.

In the first 9 months, the total preliminary import and export turnover of goods reached 578.47 billion USD, up 16.3% over the same period last year (down 11% over the same period), of which exports increased by 15.4% (down 8.2% over the same period); imports increased by 17.3% (down 13.9% over the same period).

The trade balance in September 2024 continued to have a surplus of about 2.29 billion USD, bringing our country's total trade surplus in the first 9 months of 2024 to about 20.79 billion USD (in the same period last year, the trade surplus was 22.1 billion USD).
By market area, the trade surplus to the US is estimated at 78.5 billion USD, up 31% over the same period last year; the trade surplus to the EU is estimated at 25.9 billion USD, up 20.8%; the trade surplus to Japan is estimated at 1.9 billion USD, up 28.8%.

Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department (Ministry of Industry and Trade) said that in the first 9 months of 2024, there were 30 items with export turnover of over 1 billion USD, accounting for 92.3% of total export turnover (there were 7 items with export turnover of over 10 billion USD, accounting for 66.4%).

The items with high export turnover are computers, electronic products and components estimated at 52.75 billion USD, up 27.3%; phones and components estimated at 41.78 billion USD, up 6.9%; textiles and garments estimated at 27.35 billion USD, up 9.0%; footwear estimated at 16.6 billion USD, up 12.9%; wood and wood products estimated at 11.61 billion USD, up 20.7%; seafood estimated at 7.23 billion USD, up 9.5%; vegetables and fruits estimated at 5.67 billion USD, up 34.7%.

“In particular, there are 7 groups of goods with export turnover of over 10 billion USD, including: Machinery, equipment, tools, spare parts; Phones and components; Computers, electronic products and components; footwear; textiles; wood and wood products; means of transport and spare parts. There are 11 groups of goods with export turnover of over 5 billion USD and 31 groups of goods with export turnover of over 1 billion USD,” Mr. Tran Thanh Hai informed.

Photo caption
Durian is an industry with high export value, helping to increase the value of the agricultural sector. Photo: Hoang Tuyet/Tin Tuc Newspaper

Many industries forecast strong growth

According to the Vietnam Fruit and Vegetable Association (Vinafruit), Vietnam's fruit and vegetable exports continued to set a record in the past 9 months, surpassing the 5.6 billion USD mark, up nearly 34% over the same period last year. Fruit and vegetable exports in the first 9 months of 2024 were equal to the turnover of the whole year of 2023 and will increase sharply in the last quarter of this year. Many experts believe that fruit and vegetable exports are likely to surpass the 6 billion USD mark.

In the past 9 months, pepper exports also had many bright spots, reaching over 200,000 tons, worth more than 1 billion USD (while the whole year of 2023 only reached 912 million USD). Pepper export value increased by nearly 47% over the same period last year.

As a “billion-dollar” commodity group, textiles and garments still maintained their performance when bringing in more than 27 billion USD, up 9% over the same period. Mr. Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association, predicted that Vietnam's textile and garment import and export will continue to be positive in the coming months, because according to cyclical factors, demand for goods often increases sharply in the last months of the year. Key export markets are warming up and have grown again such as the US, South Korea, Japan, Canada, etc. The export target of 44 billion USD of Vietnam's textile and garments in 2024 is feasible.

In the footwear sector, Ms. Phan Thi Thanh Xuan, Vice President and General Secretary of the Vietnam Leather, Footwear and Handbag Association, informed that footwear exports have taken advantage of markets with free trade agreements such as EVFTA and CPTPP. With the current growth rate, the export turnover for the whole year of 2024 is forecast to reach about 27 billion USD.

Associate Professor, Dr. Dinh Trong Thinh, former Head of the International Finance Department of the Academy of Finance, assessed: With the current order situation and looking at the acceleration of input material imports, in 2024, Vietnam is likely to reach the 800 billion USD import-export mark, far exceeding the record import-export of 732 billion USD in 2022.

According to Dr. Dinh Trong Thinh, based on Vietnam's import and export activities up to now, many positive results have been achieved. In particular, exports to major markets such as the United States, EU, Japan, and South Korea have all seen high growth. At the end of the year, businesses are also determined to boost export growth, taking full advantage of the market, especially new-generation free trade agreements. On the other hand, the demand of import markets at the end of the year with many major festivals is still increasing and this is beneficial for export growth in the remaining quarter, especially for the garment, footwear, electronics, and agriculture, forestry and fishery industries...

To boost export growth in the coming time, the Ministry of Industry and Trade said it will continue to focus on promoting export activities for key markets, especially making the most of incentives from FTAs ​​such as: CPTPP, EVFTA, RCEP...

At the same time, accelerate negotiations, signing and ratification of FTAs ​​and new economic links, first with Israel and the UAE, to diversify markets, supply chains and boost exports. Support businesses in carrying out trade promotion activities in new markets and potential markets that individual businesses do not have the opportunity to directly penetrate.

In particular, the Ministry will step up early warning of foreign trade defense cases against Vietnamese export goods; combat evasion of trade defense measures and origin fraud; and continue to support businesses in responding to trade defense cases that have been and are being investigated by foreign countries.

Thu Trang/Tin Tuc Newspaper