High growth in import and export turnover

According to a report of the Ministry of Industry and Trade, in April, export turnover was estimated at 33.26 billion USD, up 25% over the same period last year. Generally, in 4 months, exports earned about 122.4 billion USD, up 16.4% over the same period last year.

Statistics show that all three main export groups recorded impressive growth.

In which, export turnover of processed industrial products in the first four months of the year reached about 105.6 billion USD, up 16.1% over the same period last year. This is also the group that leads the overall growth when accounting for 86% of the country's total export turnover.

How did import and export of goods happen in the last months of the year?
Commodity import and export grew strongly in the first months of the year
Among the billion-dollar export items of this group, textiles continued to record outstanding results in both orders and profits.

According to the Vietnam Textile and Apparel Association (VITAS), currently, the textile and garment export situation is showing many signs of improvement. Many textile and garment companies have received enough orders to produce until the middle of this year, some companies even have orders until the end of September. Meanwhile, more and more companies have to refuse orders because there are no orders. enough manpower for production.

In addition to textiles, Vietnamese wood enterprises have also received a large number of orders, while many wood processing enterprises are operating at full capacity until the third quarter of 2022. Vietnam is one of the largest exporters of wood products in the world.

Besides the processing industry, despite the complicated developments of the epidemic during the past time, the group of agriculture, forestry and fishery still recorded many bright spots, with export results reaching 10.2 billion USD, an increase 19.7% over the same period last year, accounting for 8% of total export turnover.

In this group, seafood exports are estimated to bring in 3.57 billion USD in 4 months, up 43.7% over the same period last year (in which pangasius and shrimp are the export items with the strongest increase). The main reason is that the markets currently have very high demand for Vietnamese seafood.

Continue to make effective use of FTAs

In the opposite direction, the import turnover of goods in April 2022 is estimated at 32.2 billion USD, up 15.5% over the same period in 2021. In 4 months, Vietnam's imports are estimated at 119.8 billion USD. USD, up 15.7% over the same period last year.

With the above results, in April the trade surplus was about $ 1.089 billion, bringing the country's trade surplus in 4 months to about $ 2.53 billion.

Economist Pham Tat Thang said that import and export results in the first months of the year brought many positive signals not only for businesses but also for the economy.

However, the world situation has many fluctuations, the price of many types of raw materials increases... is considered to affect import and export activities of Vietnam in the coming time.

Therefore, according to this expert, finding the steps and ways to manage risk is a must. In addition, the cooperation between enterprises, cooperatives, farmers and association organizations needs to be tightened further to overcome the challenges of the market together.

According to the Ministry of Industry and Trade, in order to keep pace with growth, the ministry's leaders have requested functional units to support businesses in market information, export promotion, and taking advantage of commitments in signed FTAs. and through global value chains to find new markets

At the same time, closely monitor fluctuations of the international situation, proactively assess the impacts of such events on production, import and export of Vietnam in order to promptly make appropriate adjustments and responses. strengthen information work and support for associations and businesses.

Along with that, review and assess domestic demand for strategic commodities such as fertilizers, petroleum, coal, etc. to take appropriate management measures for export and import activities, while taking full advantage of the situation. take advantage of price opportunities for export and ensure sufficient supply for domestic consumption and production needs, especially in case raw material prices rise too high.

As for agricultural products, according to the Ministry of Industry and Trade, although Vietnam has signed a Free Trade Agreement (FTA) with China, many agricultural products have enjoyed a 0% import tax rate, but negotiations on management The quality of goods is still slow, so only 9 kinds of fruits are allowed to be exported to this country. Deputy Minister of Industry and Trade Tran Quoc Khanh emphasized that finding solutions for agricultural and fishery products to better meet the requirements and new standards of the Chinese market, gradually increasing exports through official channels and reducing exports. Small quota is an urgent requirement today.

In order to promote import and export of agricultural products, the Ministry of Industry and Trade believes that it is necessary to soon switch exports to the form of official export, that is, to comply with all regulations of the importing country for imported goods, including: regulations on taxes and fees as well as on quality, food hygiene and safety, traceability, packaging, labels... Due to meeting all the standards of the import market, exported goods Officials can enter the import market through all