The fruit and vegetable industry is expected to set a new export record this year. Photo for illustration
The export turnover of goods in April 2024 is estimated to reach 30.94 billion USD, a decrease of 8.1% compared to the previous month and an increase of 10.6% compared to the same period last year. In the first four months of 2024, the export turnover of goods is estimated to reach 123.64 billion USD, an increase of 15% compared to the same period last year.
21 Billion-USD Export Products
The whole country recorded 21 products with export turnover of over 1 billion USD, accounting for 86.4% of the total export turnover, of which 5 products exported over 5 billion USD, accounting for 57.8%. In terms of the export product group structure, in the first four months of 2024, the processed industrial product group is estimated at 108.27 billion USD, accounting for 87.5%.
Exports to major markets such as the US, EU, and China all increased by double digits. In which, the US is the largest export market of Vietnam with an estimated turnover of 34.1 billion USD, an increase of 19.1% compared to the same period in 2023. Exports to China reached 18 billion USD, an increase of 14.4%; exports to the EU market reached 16.4 billion USD, an increase of 15%; exports to the South Korean market at 8.4 billion USD, an increase of 10.2%.
On the contrary, the import turnover of goods in April 2024 is estimated to reach 30.26 billion USD, a decrease of 2% compared to the previous month and an increase of 19.9% compared to the same period last year. In the first four months of 2024, the import turnover of goods is estimated to reach 115.24 billion USD, an increase of 15.4% compared to the same period last year.
Over the past four months, there have been 20 imported products with a value of over 1 billion USD, accounting for 78.9% of the total import turnover. The import of input materials for production is estimated at 108.33 billion USD, accounting for 94%. China is the largest import market of goods in Vietnam, with an estimated turnover of 41.6 billion USD.
In the first four months of 2024, the trade balance of goods is estimated to have a trade surplus of 8.4 billion USD (in the same period last year, the trade surplus was 7.66 billion USD).
Fruit and Vegetable Exports Expected to Set New Record
According to the data of the Ministry of Agriculture and Rural Development, in the first four months of the year, agricultural, forestry and fishery exports are estimated to reach 19.06 billion USD, an increase of 23.7% compared to the same period last year.
The US, China and Japan continue to be the 3 largest import markets for Vietnamese agricultural, forestry and fishery products. In which, China ranks second, accounting for 18.9% of the total export turnover of agricultural, forestry and fishery products, an increase of 15.1% compared to the same period in 2023.
Agricultural, forestry and fishery exports continue to record positive signals when in just the 5 days of the holiday of April 30 – May 1, functional forces at border gates in Lang Son province have completed procedures for over 5,300 vehicles; of which, more than 2,100 vehicles are exported fruits and vegetables. The total weight of agricultural products for import and export is about 55,790 tons, including fruits and vegetables of all kinds, agricultural products…
In the past four months, fruit and vegetable exports are estimated to reach 520 million USD, bringing the total export value of fruits and vegetables in the first four months of Vietnam to 1.8 billion USD, an increase of over 32% compared to the same period last year.
Fruit and vegetable exports maintain high growth and have many positive changes in the market, while also improving processing capacity. The fruit and vegetable industry is expected to set a new export record this year.
Camera and video camera exports were the fastest growing products after the first four months of the year. Photo for illustration
Camera and Video Camera Exports Increase by Nearly 65%
The socio-economic situation report for the first four months of the year by the General Statistics Office shows that exports of cameras, camcorders and components in April earned over 720,000 USD, up 40% compared to April 2023.
Accumulated in the first four months of the year, this item has earned over 2.9 billion USD, up 63.5% compared to the same period in 2023, and is also the item with the highest growth rate among Vietnam’s export products.
In terms of the market, up to the end of the first quarter, China continued to be the largest importer of cameras, camcorders and components from Vietnam with over 1.4 billion USD, an increase of 119% in value compared to the same period in 2023. The second is the US market with over 234 million USD, up 50.9% over the same period. South Korea is the third largest import market with over 133 million USD, up 9.2% over the first quarter of 2023.
In 2023, exports of cameras, camcorders and components brought in more than 7.6 billion USD, up 19.5% over the same period and was the item with the third highest growth rate, after the fruit and vegetable group and rice.
Maintain Growth Momentum
In order to maintain the bright color in the export picture, many experts recommend that businesses make the most of the potential of markets where Vietnam has signed Free Trade Agreements (FTAs), especially Vietnam’s neighboring markets, where there are FTAs with incentives such as the RCEP region, the ASEAN Free Trade Area or the CPTPP market bloc. At the same time, it is necessary to exploit new markets, which still have a lot of potential for exports such as Africa, the Middle East, and South America.
Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department (Ministry of Industry and Trade), said that the Ministry of Industry and Trade is currently continuing to make efforts to implement many solutions that have been set out. Accordingly, it will expand the negotiation of FTAs, disseminate to realize the incentives from FTAs that Vietnam has signed and put into effect. Innovate trade promotion activities, implement digital transformation. Help businesses unblock exports, simplify import-export procedures.
For agricultural exports, the Ministry of Industry and Trade recommends that businesses proactively exchange and connect information on market demand and trade regulations and policies of China; actively participate in international trade fairs and exhibitions to connect directly, promote trade, economic cooperation, stable, long-term, and effective trade cooperation.
