In 11 months, import-export turnover reached nearly 620 billion USD

Specifically, in November, goods exports reached 31.12 billion USD, down 3.5% compared to the previous month. However, this is the 5th consecutive month that the country's export turnover has reached more than 30 billion USD/month (July reached 30 billion USD; August reached 32.37 billion USD; September reached 31.41 billion USD). , in October reached 32.3 billion USD).

The above results brought export turnover in 11 months to 322.6 billion USD, down 5.8% compared to the same period in 2022. Thus, the decrease in export turnover has improved relatively positively compared to the decline was up to double digits in the first months of the year.

Textile and garment is one of the export groups of tens of billions of dollars (Photo: Pham Hung)

By the end of November, there were 7 product groups with export turnover of 10 billion USD or more, including: Computers, electronic products and components; Phones and components; machinery, equipment, tools, spare parts; textile; Footwear; means of transport and spare parts; wood and wood products.

Notably, among the 7 large product groups mentioned above, only 2 product groups will have positive growth compared to the same period in 2022: computers, electronic products and components; means of transport and spare parts.

Of which, computers, electronic products and components reached a turnover of 51.64 billion USD, an increase of 1.22%; Means of transport and spare parts reached 12.62 billion USD, an increase of 16.1%.

On the contrary, import turnover in November reached 29.58 billion USD, up 0.2% compared to the previous month. The increasing trend of import turnover is mainly to serve production needs at the end of the year.

Overall for 11 months, import turnover reached 296.75 billion USD, down 10.7% over the same period last year.

Thus, from the beginning of the year to the end of November, the country's import-export turnover reached 619.35 billion USD. The trade balance is in surplus at 25.85 billion USD.

The reason exports have increased continuously in the past 4 months is due to the efforts of localities, the business community and many support policies from ministries and branches in accordance with reality. Previously, at the end of 2022 and early 2023 due to reduced world demand, inflation occurring in countries, high inventories in countries, affecting exports. However, in recent months exports have improved, especially export items that tend to increase such as: computers, phones, textiles, phone components, wood...

According to the Ministry of Industry and Trade, in the context of low global economic growth, weak global consumer demand, increased protection barriers, many countries continue to maintain tight monetary policies, so the import-export situation is Exports in the last month of the year will still face many difficulties. In addition, major economies that are Vietnam's export partners such as the United States and the EU reduced spending on purchasing common and luxury products, causing the volume of orders to decrease...

To reduce the above difficulties for export businesses, the Ministry of Industry and Trade will promote negotiations and signing of new agreements, commitments, and trade links, including completing and implementing the Agreement. FTA with Israel, signing FTA Agreements, Trade Agreements with other potential partners (UAE, MERCOSUR...) to diversify markets, products, and supply chains.

At the same time, support businesses to take advantage of commitments in FTA Agreements, especially CPTPP, EVFTA, UKVFTA Agreements to boost exports.

bao Ngoc

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