Once had to be "rescued", this item could reach 5 billion USD in 2023; Pangasius "eats measuredly" each order

The third consecutive month of export turnover growth; having to be "rescued", this item could reach 5 billion USD in 2023... are the highlights in the export news on July 28-30.

Xuất khẩu ngày 28-30/7: Từng phải 'giải cứu', mặt hàng này có thể đạt 5 tỷ USD năm 2023; cá tra 'ăn đong' từng đơn hàng

Export turnover of goods in July 2023 is estimated at 29.68 billion USD, up 0.8% over the previous month. (Source: Customs Newspaper)

Third consecutive month of export turnover growth

According to the recently released report of the General Statistics Office, the export turnover of goods in July 2023 is estimated at 29.68 billion USD, up 0.8% over the previous month. Of which, the domestic economic sector reached 7.76 billion USD, down 1.8%; the foreign-invested sector (including crude oil) reached 21.92 billion USD, up 1.7%.

Compared to the same period last year, the export turnover of goods in July decreased by 3.5%, of which the domestic economic sector decreased by 4.2%, the foreign-invested sector (including crude oil) decreased by 3.2%.

In the first 7 months of 2023, the total export turnover of goods is estimated at 194.73 billion USD, down 10.6% over the same period last year.

In the first 7 months of 2023, there were 30 items with export turnover of over 1 billion USD, accounting for 91.6% of total export turnover (there were 5 items with export turnover of over 10 billion USD, accounting for 57.6%).

Regarding the structure of export goods in the first 7 months of 2023, the fuel and mineral group is estimated to reach 2.53 billion USD, accounting for 1.3%; the processed industrial group is estimated to reach 171.5 billion USD, accounting for 88.1%; the agricultural and forestry products group is estimated to reach 15.75 billion USD, accounting for 8.1%; the aquatic products group is estimated to reach 4.95 billion USD, accounting for 2.5%. Notably, many export items have shown signs of positive recovery.

The Ministry of Industry and Trade is actively implementing solutions to remove difficulties and create the greatest convenience for import and export. For example, according to Circular 36/2023/TT-BTC of the Ministry of Finance , from July 21, enterprises applying for a certificate of origin (C/O) must pay a fee. Fee collection organizations under the provisions of this Circular include: the Ministry of Industry and Trade and agencies and organizations authorized by the Ministry of Industry and Trade to issue certificates of origin of goods under the provisions of Article 34 of the Law on Foreign Trade Management.

However, instead of having to go directly to the management agency to pay the fee, businesses can pay the C/O fee/charge online. This form is to create maximum convenience for businesses, helping businesses save time and other costs. After paying the C/O fee/charge, businesses will receive a receipt via the email registered with the management agency.

Once had to be "rescued", this item could reach 5 billion USD in 2023

According to estimates from the General Department of Customs, as of July 15, fruit and vegetable exports had brought in more than 3 billion USD and by the end of July, the possibility of surpassing the 3.3 billion USD result of the whole year of 2022 is entirely feasible. It is forecasted that fruit and vegetable exports may reach 5-5.3 billion USD in 2023.

Fruit and vegetable exports began to flourish from the end of 2022, when the Chinese market reopened. Since the Lunar New Year, many fruit products have continued to be welcomed by the Chinese market, such as dragon fruit, durian, jackfruit, mango, etc.

Notably, the export value of fruits and vegetables increased dramatically from the last 2 weeks of May 2023 when it reached over 400 million USD; double that of the previous 2 weeks.

The Ministry of Industry and Trade explained that China's increased purchases, while Vietnam is in the fruit season, are the main factors causing Vietnam's fruit and vegetable exports to surge in the first months of 2023.

With abundant supply, fruit and vegetable exports will be very positive in the second half of 2023 if they meet the requirements of the Chinese market in the direction of Good Manufacturing Practices (GAP).

In addition to the Chinese market, fruit and vegetable exports to other markets also grew positively such as: Korea, Japan, Netherlands, UAE, Malaysia...

In addition, many Vietnamese fruits are entering the harvest season and have a spread-out nature, so the fruit and vegetable industry is assessed to have much room for export. In particular, star apple and rambutan can be supplied almost all year round according to business orders, and the export price is also better than last year.

Exporting fruits and vegetables is facing many advantages when Vietnam signed protocols with China in 2022, which will help Vietnam's fruit and vegetable export activities have many advantages. Recently, Vietnam and China have signed many export protocols for agricultural products, including: bird's nest, durian, sweet potato, banana, black jelly, mangosteen... Thanks to that, Vietnam's agricultural export activities to China have many advantages.

In 2023, although China strictly controls technical barriers and food safety, Vietnamese fruits and vegetables are of increasingly high quality and competitive prices, so they are favored by Chinese consumers.

Currently, Vietnam is proposing that China open its doors to other fruit and vegetable products such as green-skinned grapefruit, fresh coconut, avocado, lemon, pineapple, star apple, etc. to further promote fruit and vegetable exports to this market.

In the Project on developing key fruit trees until 2025 and 2030, the Ministry of Agriculture and Rural Development set a target of 5 billion USD in fruit and vegetable export turnover by 2025. However, if the current export rate is maintained, the 5 billion USD figure will be achieved this year, 2 years earlier than the set target.

Pangasius "eats measured" each order

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's pangasius exports have increased compared to the first months of 2023, but compared to 2022, they are still relatively gloomy. Looking back at 2022, Vietnam's pangasius exports in 2022 have set many "records", of which the export turnover reached 2.4 billion USD, an increase of 70% over the same period in 2021, surpassing the peak in 2018 of 2.26 billion USD.

VASEP said that this year, pangasius export turnover has decreased quite sharply in the first 6 months of the year. The US market is a market that has decreased rapidly, significantly and continuously. The Chinese market has decreased but is showing signs of improvement. In the general difficult situation of the world economy, many businesses are trying to hold on, fulfilling even small orders to ensure jobs for workers.

Vietnam's pangasius exports have increased in the first months of 2023, but compared to 2022, they are still relatively gloomy. (Source: invivo)

According to statistics from Vietnam Customs, by the end of June 2023, Vietnam's pangasius exports to China and Hong Kong (China) reached 281 million USD, down 34% over the same period last year.

In June 2023, China and Hong Kong (China) imported 48 million USD worth of Vietnamese pangasius, down 4% compared to May 2023, down 15% compared to the same period last year. The 15% decrease in June was lower than the decrease in previous months (April and May recorded a decrease of 30% - 60%).

Since 2020, China and Hong Kong (China) have always maintained the No. 1 position in importing Vietnamese pangasius. Compared to the main markets, China and Hong Kong (China) have maintained the highest growth.

After a period of continuous decline from September 2022 to January 2023, the average export price of pangasius to this market was stable in the following months. The average export price of Vietnamese pangasius to China in the first 5 months of this year ranged from 2.11 USD/kg - 2.29 USD/kg, down 10% over the same period in 2022. In May alone, the average price reached 2.29 USD/kg, up 0.4% over the previous month.

Demand for consumption has decreased, inflation remains close to 0%, Chinese businesses and consumers still expect prices to fall further, thereby delaying spending, causing the rate of consumption of goods to decrease significantly. Consumer price indexes and producer prices show that the world's second largest economy continued to weaken in May. These factors have negatively impacted pangasius exports to this market in the first half of this year.

The picture of the seafood and pangasius industry in the last 6 months of the year will gradually recover as inventories decrease and the season of ordering for the year-end festivals begins. This is a forecast signal that pangasius prices will improve in the coming months.

The target for 2023 is that the pangasius industry plans to raise 5,600 hectares; the output of commercial pangasius is expected to reach 1.6 million tons; the export turnover is expected to reach 2.3 billion USD. However, this number will be very difficult to achieve.

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