AsemconnectVietnam - Vietnam’s import-export activities continued to have a positive trend in October with growth in both export and import.

According to the General Department of Customs, the country's total import-export turnover in October reached nearly 62 billion USD. Of which, export turnover reached 32.25 billion USD, up by 5.1% over the previous month.
In October, there were 8 product groups with a turnover of 1 billion USD or more. Of these, 5 groups had positive growth compared to the previous month. The most impressive was footwear with a turnover of 1.74 billion USD, an increase of 30.3%.
The next were: cameras, camcorders and components reaching more than 1 billion USD, an increase of 17.3%; wood and wood products reached 1.28 billion USD, an increase of 12.9%; machinery, equipment, tools and spare parts reached 4.47 billion USD, an increase of 9.9%; phones and components reached 5.2 billion USD, an increase of 3.3%.
Other key product groups were: computers, electronic products and components reaching 5.1 billion USD, down by 6.8%; textiles and garments reached 2.57 billion USD, down slightly by 0.1%; transport vehicles and spare parts reached 1.17 billion USD, down by 3.5%.
By the end of October, the country's export turnover reached 291.46 billion USD, down by 7% over the same period last year.
On the contrary, the country’s imports of goods in October reached 29.52 billion USD, up by 3.6% over the previous month. Overall for 10 months, the country’s import turnover reached 266.87 billion USD, down by 12.2% over the same period last year.
By the end of October, the country's total import-export turnover reached 558.33 billion USD, with a surplus of 24.59 billion USD.
According to the Ministry of Industry and Trade, one of the positive points in October was that the import turnover of raw materials for export production continued to increase. In particular, the group of raw materials for production still accounted for a large proportion of the country's total import turnover. Imported goods focus on items such as computers, electronic products and components; machinery, equipment, tools, spare parts; fabrics of all kinds; steel of all kinds; petroleum of all kinds, etc.
The Ministry of Industry and Trade also noted that currently, green transformation and sustainable development are inevitable trends for Vietnamese businesses because major export markets, including the EU, always have high and strict requirements on environmental standards.
For example, from October of 2023, the EU has applied the Carbon Border Adjustment Mechanism (CBAM) in the transitional period. This is an EU policy tool to impose a carbon tax on all goods imported into this market based on the intensity of greenhouse gas emissions in the exporting country's production process.
Or, in Northern Europe, countries in this region pay special attention to environmental protection and user safety. In the coming time, many new regulations will be introduced targeting these two concerns, especially the European Green Deal. Therefore, Vietnamese businesses need to pay attention to regularly updating information, proactively learning and evaluating the potential impact of new policies on business operations and exports.
Therefore, for Vietnamese export enterprises, in addition to paying attention to export growth, transforming production structure and investing in infrastructure not only requires large financial and human resources, which requires experience and skills to apply successfully, meeting international regulations and standards, but also maintaining sustainable export growth.
CK
Source: VITIC/congthuong.vn