Although import-export turnover in 2023 decreased, there was still a "miracle" of a record high trade surplus. This result was partly thanks to the policy of promoting international economic integration, effectively taking advantage of new FTAs...
The General Department of Customs' report shows that the total export turnover for the whole year of 2023 reached nearly 354.7 billion USD, down 4.6% compared to 2023. Although the export turnover decreased, not reaching the target set for 2023, in the context of the world economy continuing to grow slowly, the world's total demand decreased, but Vietnam's goods export activities in the past year overcame difficulties, significantly narrowing the decline compared to the beginning of the year, which is an encouraging result.
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Specifically, at the end of the first quarter of 2023, export turnover recorded a decrease of 11.6% compared to the same period last year. Since the end of the second quarter, exports have shown signs of recovery, with each month being higher than the previous month (compared to the previous month, May increased by 0.63%; June increased by 5.03%; July increased by 2.1%, August increased by 8.96%...). By the end of the third quarter, the decrease in export turnover narrowed to 8.5% compared to the same period... Compared to the decline in exports of countries in the region, our country's exports have recovered more positively.
This is a result marking the implementation of Resolution 22-NQ/TW dated April 10, 2013 of the 11th Politburo on proactive, comprehensive and extensive international integration in all fields, especially international economic integration. Over the past decade, the Ministry of Industry and Trade has extensively, systematically and effectively implemented international economic integration in all bilateral and multilateral foreign channels and achieved many important achievements, actively contributing to the country's socio-economic development; at the same time, actively implementing activities to expand markets and strengthen international trade relations, affirming the industry's contribution to economic integration and the country's comprehensive development.
In 2023 alone, chairing the conclusion of negotiations with Israel and signing the conditional conclusion of negotiations with the United Arab Emirates (UAE) opened the door to the Middle East market with a GDP of about 2,000 billion USD. Up to now, Vietnam has successfully signed 16 Free Trade Agreements (FTAs) with more than 60 partners, most of which are large economies, covering all continents, accounting for nearly 90% of global GDP, making Vietnam one of the leading countries in the region in participating in international economic cooperation frameworks, creating conditions to promote exports and improve the trade balance.
Effective implementation of signed FTAs also helps to open up the market for export goods, creating an opportunity for Vietnam to connect and participate more deeply in the global value chain and production network. For example, with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the rate of using CPTPP Certificates of Origin (CPTPP C/O) of most of Vietnam's key export products continues to grow positively and significantly compared to previous years (in which rice increased by more than 2503%; cassava and cassava products increased by nearly 3649%; machinery, equipment, tools and other spare parts increased by more than 134%; chemicals and chemical products increased by approximately 67%...).
To make more effective use of FTAs, in the coming time, the Ministry of Industry and Trade will step up the dissemination, popularization and implementation of FTAs of which our country is a member; at the same time, deploy solutions to support Vietnamese enterprises to make good use of the benefits that FTAs bring to overcome difficulties in supply chains and challenges from the global economic recession. Through the door of integration, enterprises not only receive large investment capital, advanced technology and management experience, but also create many new job opportunities, while contributing to social security stability.
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