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Exports to FTA markets grew well 

 Tuesday, May 28,2024

AsemconnectVietnam - According to the assessment of the Import-Export Department (under the Ministry of Industry and Trade), Vietnam’s exports to most market areas have good growth, especially markets that have signed FTAs with Vietnam.

Specifically, in the first 4 months of the year, the country’s exports of goods to ASEAN markets increased by 10.5%; to Japan increased by 3.3%; to South Korea increased by 8.6%, to EU increased by 15.1%, and to Australia increased by 22.6%.
In particular, last year Vietnam upgraded its comprehensive strategic partnership with two major partners, China and the United States. In which trade is considered an important pillar. The exports to China in the first 4 months of the year reached 17 billion USD, up by 12.8%; and to the United States reached 34.7 billion USD, an increase of 21.2%.
The Import-Export Department said that the import-export trend has recovered positively in the past 4 months, the trade balance continued to record a surplus of 9 billion USD. The indexes have had very positive growth, clearly showing the recovery trend of import and export activities.
Some positive points in import-export activities include: both the foreign-invested enterprise sector and the 100% domestic-owned enterprise sector recorded good growth in export turnover. Among them, the group of domestic enterprises had a higher growth rate (up by 22.8% over the same period last year, higher than the growth rate of 12.4% of the group of foreign-invested enterprises).
The exports of agricultural and aquatic products achieved high growth (25.7% over the same period last year). Of which, the exports of seafood reached 2.7 billion USD, an increase of 5.8%; vegetables reached 1.9 billion USD, an increase of 38.1%, coffee reached 2.5 billion USD, an increase of 53.4%, especially rice products, although only increased by 9.5% in volume, the turnover recorded received an increase of 33.6%, reflecting a favorable price level in the market.
The exports of agricultural products - which is a strong group of domestic businesses - has contributed to the positive growth of this business sector.
The key export industrial products continued to recover well: wood and wood products reached 4.9 billion USD, up by 25%; textiles and garments reached 10.4 billion USD, up by 6.7%; footwear reached 6.6 billion USD, an increase of 7.2%, iron and steel of all kinds reached 3.2 billion USD, an increase of 28.1%; computers, electronic products and components reached 21.5 billion USD, an increase of 33.9%; phones and components reached 18.1 billion USD, an increase of 5%.
The Imports meet production needs. The proportion of imported goods continued to remain high (88.8%) in the total import turnover.
Source: VITIC/


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