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| According to statistics, in 10 months, there were 33 items with export turnover of over 1 billion USD. (Source: baocongthuong) |
While most commodity groups experienced a significant decrease in turnover due to major markets reducing orders from Vietnamese suppliers, Vietnam's four main export commodity groups still had positive growth.
According to statistics, in 10 months, there were 33 items with export turnover of over 1 billion USD, accounting for 92.9% of total export turnover (there were 7 items with export turnover of over 10 billion USD, accounting for 66.2%).
Of which, 4 main export groups, contributing tens of billions of USD to exports, include computers, electronic products - components, means of transport and spare parts, agricultural products with vegetables, coffee, rice, etc. These groups are growing impressively and there is no worry about a lack of orders for the remaining months of 2023.
In general, export activities have also been continuously improved in recent months. Export turnover in October 2023 reached 32.25 billion USD, up 5.1% compared to September. More positive signals are appearing, thanks to customers in traditional markets releasing inventory. Major consumer markets of Vietnamese goods such as China, West Asian countries, Africa, etc. are also flourishing.
According to the Ministry of Industry and Trade , in October 2023, export turnover of most major commodities achieved positive growth compared to the same period last year due to recovery in demand and the relatively low base level in the last months of 2022.
The Ministry also assessed that import-export activities are forecast to improve in the last two months of the year, due to being supported by favorable factors from the international and domestic environment.
Countries promoting strategies to diversify supply sources, diversify supply chains, and diversify investments will help Vietnam become an important production and export center in the global value chain.
In this context, how can we promote sustainable export strengths? One of the solutions mentioned by experts is to promote the effective implementation of international commitments within the framework of free trade agreements (FTAs) that Vietnam has participated in.
This is also the task that the industry and trade sector is thoroughly carrying out in order to make the most of the opportunity to increase exports in the last two months of the year, bringing exports to the finish line with the highest possible results.
In addition, amid the difficulties of the global trade slowdown, exports also need to continue to diversify markets and effectively implement solutions for exports to countries sharing borders. There must be solutions to avoid congestion of basic goods, even during peak seasons, to increase export turnover to China.
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