January is also the highest export month since September 2022. Although the global market still has many fluctuations, the situation of exporting goods to major markets is recovering, especially in two groups: processed and manufactured goods and agricultural and forestry products.
Good news has come to the textile and garment industry – Vietnam’s leading industry – when exports reached $3.5 billion in January, an increase of 30% compared to the same period last year – the highest increase in many years. Many markets are recovering well, inventory is decreasing, and there are abundant new orders for the summer because businesses have all signed long-term orders.
Mr. Le Tien Truong – Chairman of Vietnam National Textile and Garment Group said: “We have sufficient orders for the first 6 months of the year, and the first quarter is quite good. Units in the Central and Northern regions have reopened and the labor force has reached over 95% of the workforce”.
The export turnover of goods in the first month of this year is estimated at $34 billion, an increase of 42% compared to the same period last year. Image for illustration.
For existing markets, many businesses have found new niche markets. Previously, Vietnam-France Aluminum Factory only exported basic goods, but now it has vigorously deployed product lines serving clean energy.
“Vietnamese businesses have the advantage of supplying raw materials and support to the clean energy industry in the US. Therefore, the opportunities for Vietnamese businesses are very large”, said Mr. Vu Van Phu – Chairman of the Board of Directors of Vietnam-France Aluminum Factory.
Notably, the group of agricultural, forestry, and aquatic products exports increased by nearly 97% compared to the same period. Many agricultural products such as rice and fruits have signed large contracts with many important markets. The breakthrough of this industry from the beginning of the year is an optimistic signal for this year’s export target.
Mr. Tran Thanh Hai – Deputy Director of the Import-Export Department, Ministry of Industry and Trade, said: “In 2024, the Ministry of Industry and Trade also sets the target of export growth at 6% and export surplus of $15 billion, in the current context, the conditions for us to achieve this goal are feasible”.
Despite the good export recovery signal, considering the complex developments of territorial-political conflicts in the world, it is necessary to continue promoting expansion of free trade agreements to new markets in order for businesses to diversify export markets and maintain this year’s growth momentum.
