Import and export turnover grew by double digits

The volume of Vietnamese rice exported in October 2022 is estimated at 700 thousand tons with a value of 334 million USD, bringing the total volume and value of rice exports in 10 months of 2022 to 6.07 million tons and 2.94 respectively. billion USD, up 17.2% in volume and 7.4% in value over the same period in 2021. The average export price of rice in 10 months of 2022 is estimated at 484 USD/ton.

Notably, in October 2022, Vietnam's 5% broken rice was priced at $425 - 430 per ton - the highest level since November 2021. Vietnam's rice exports are expected to increase this year.

Rice is one of the commodities that have brought positive export turnover and contributed positively to the achievement of import and export of goods in the past 10 months.

Goods import and export growth

According to the General Statistics Office, the export turnover of goods in October 2022 was estimated at 30.27 billion USD, up 1.5% over the previous month and up 4.5% over the same period last year. Generally, in the first 10 months of 2022, export turnover of goods was estimated at US$312.82 billion, up 15.9% over the same period last year.

Meanwhile, the import turnover of goods in October 2022 was estimated at 28 billion USD, down 1.4% over the previous month and up 7.1% over the same period last year. In the 10 months of 2022, the import turnover of goods is estimated at 303.42 billion USD, up 12.2% over the same period last year.

The balance of trade in goods in October was estimated to have a trade surplus of 2.27 billion USD. In the first 10 months of 2022, the trade balance of goods is estimated to have a trade surplus of 9.4 billion USD (the same period last year, the trade deficit is 0.63 billion USD).

Import and export is considered as one of the brightest points in the 10-month socio-economic situation of our country. In the context of rising inflation causing the import demand of many countries to decrease, and the standards of imported goods to be raised, the continuous increase of Vietnam's exports of goods by more than double digits is a great effort of the Government. enterprise.

Besides, the high increase in export turnover also shows that enterprises have been making good use of FTAs. For example , with the CPTPP Agreement , Ms. Vo Hong Anh, Deputy Director of the European and American Market Department, Ministry of Industry and Trade stated that, in the first 9 months of 2022, the export of textiles and garments to the Canadian market has grown. to over 50% over the same period in 2021. In general, after 3 years of implementing the CPTPP, the export turnover of goods to markets in the bloc has grown by 75-100%. Phones and components, electronics and computers, machinery, spare parts, textiles, leather and footwear... are the main export items to this region.

Or with EVFTA, the EVFTA Agreement has a great impact on import and export activities because the EU is a market that consumes a lot of Vietnamese products; in which, there are products such as seafood, rice and also a diversified market for large industrial products. Mr. Tran Thanh Hai - Deputy Director of the Import-Export Department - Ministry of Industry and Trade informed that in the past two years, most of the exports to the EU have experienced high growth, especially with some commodity groups such as iron and steel, growth rate up to 200%, or coffee group increased 75.2%, pepper increased 55.8%.

“In the field of origin of goods, it can be said that businesses have got acquainted and caught up quite well. This is shown in the first two quarters of 2022, the amount of goods applying for a certificate of origin in EUR.1 is about 5.8 billion USD, equivalent to about 25% of export turnover to the EU in this period. Mr. Tran Thanh Hai shared.

Continue to accompany and create favorable conditions for import and export

In the coming time, import and export activities are forecast to face many difficulties when strong exchange rate fluctuations will affect goods import activities. The geopolitical situation in the world market still has many unpredictable factors, which have a significant impact on the domestic economy and import and export.

Therefore, in the coming time, the Ministry of Industry and Trade will continue to promote exports, strengthen appropriate import management, ensure a harmonious and sustainable trade balance; Promote exploitation of signed FTAs; At the same time, promote well the role of the system of overseas Vietnamese trade agencies to expand and diversify export markets and products; Promote trade facilitation, support market information; remove barriers to entering new markets; Early warning of the risk of trade defense lawsuits for businesses.

For businesses, more efforts are needed to make more effective use of FTAs. For example, with the CPTPP, Ms. Nguyen Thi Thu Trang, Director of the Center for WTO and Integration (Vietnam Federation of Trade and Industry) shared that recently, Vietnam has had many advantages when "alone with a market".

Competitors have similar products and goods to Vietnam in ASEAN, and Asia has no FTAs with countries such as Canada or Mexico. Therefore, Vietnamese products have an almost absolute advantage with preferential tariffs under CPTPP.

However, fluctuations in geopolitics and other factors will affect Vietnam's advantages in taking advantage of the CPTPP.

In short, the advantage is still one of the advantages of Vietnam in this market, but it does not last too long. Therefore, businesses must take advantage of all opportunities at the present time; at the same time prepare to improve competitiveness in the coming period when the advantages are not much.