In the first 3 months of 2022, our country’s exports recovered strongly when they increased in both volume and value in many commodity groups, contributing significantly to the growth of the economy.This is the basis for localities, industry associations, enterprises to promote production and business activities, create momentum for exports in the next quarters, strive to achieve the goals set in 2022.

The turnover of goods exported in the first quarter increased by 12.9%

Deputy Director of Export-Import Department (Ministry of Industry and Trade) Tran Thanh Hai said that the consumption of rice, coffee, pepper, fishery products… is very favorable, bringing the export turnover of agricultural products to 7.27 billion USD in the first quarter of 2022. While the overall export growth of commodities is 10%, the growth of agricultural exports almost doubled at 19.7%. Notably, seafood exports increased sharply due to the high demand of the markets. Specifically, in March, seafood exports in the country were estimated at $920 million, bringing the total export of this item in the first quarter to $2.4 billion, an increase of 40% compared to the same period in 2021.

According to the Ministry of Industry and Trade, the turnover of goods exported in the first quarter of 2022 is estimated at 88.6 billion USD, up 12.9% compared to the same period in 2021. The trade balance of goods is estimated at USD 809 million. There are 16 exports of over $1 billion, an increase of 5 items compared to the first quarter of 2021, accounting for 83.4% of the total export turnover (5 exports of over $5 billion, accounting for 57.9%). The processing industry continued to be the driver of export growth when it reached $76.18 billion, an increase of 11.6% compared to the first quarter of 2021 and accounting for 86% of total export turnover.

Notably, the export turnover of the domestic enterprise sector increased by up to 22%, showing the efforts of enterprises in restoring production and business, resuming the supply chain in the context of the Covid-19 pandemic still complicated. There has been an increase in export turnover in most markets. In particular, the United States is the largest export market of Vietnam with a turnover of $25.57 billion, accounting for 28.87% of the total export turnover and an increase of 15% compared to the same period in 2021.

In Hanoi, according to information from the Department of Industry and Trade, the city’s I-2022 goods export turnover is estimated at $3.6 billion, up 6.1% compared to the same period in 2021. Some groups of goods with high export turnover are textiles, textiles reached $637 million, up 48.7%; computers, electronics and components reached $560 million, up 10.6%; means of transport and spare parts reached $384 million, up 21.9%; wood and wood products reached $234 million, up 52.2%; agricultural products reached $208 million, up 26.2%…

Economic expert – Dr. Nguyen Minh Phong said that the positive results of export activities nationwide show the unified, flexible and right direction of the Government, ministries, sectors, localities and enterprises. Export indicators, sectors and industries have all recovered strongly as a result of the economy’s soon return to “new normal”. Notably, the results of the first quarter of 2022 show that the ability of the Vietnamese economy to export supercontinuously, without the Covid-19 pandemic will certainly be even higher.

Take the opportunity to boost exports

Despite the positive results, Vietnam’s trade still faces many challenges. These are unpredictable developments of the Covid-19 pandemic; the risk of supply chain disruptions due to trade and geopolitical tensions; high transport fares; the price of imported goods, raw materials, fuels and materials as inputs of production is forecast to continue to increase… In addition, the situation of agricultural exports to China still faces some difficulties due to your country’s anti-epidemic policy.

Regarding the issue of delayed customs clearance at the border gate in the north, Deputy Director of the Department of Export and Import Tran Thanh Hai said that the Ministry of Industry and Trade has been working with ministries, sectors of Vietnam and China to find solutions to dismantle. The Ministry also encourages enterprises to switch to formal export, export by sea, rail, etc.

According to Deputy Director of Trade Promotion Department (Ministry of Industry and Trade) Le Hoang Tai, more than 80% of the funding of the national program on trade promotion in 2022 will be for export promotion activities. From now to the end of 2022, the Ministry organizes quarterly promotional conferences and 30 export consultancy sessions with markets around the world to support localities, industry associations and enterprises to connect with potential markets, increasing trade efficiency with partners.

To promote export activities effectively in the coming time, representatives of the desired industry associations, functional agencies, Vietnamese traders in foreign countries update information on markets, export and import demand as well as early warning of trade defense measures… In addition, according to economic experts, the maximum exploitation of preferences from trade agreements should also continue to focus on the application of risk management solutions, minimizing external impacts, promoting the development of digital and circular economy…

Source: Ha Noi moi