Bright spot on the economic picture
According to the latest report of the General Department of Customs, in the first half of September (September 1-15), the country’s total export turnover reached 14 billion USD, a decrease of 6.73 billion USD compared to the second half of August 2024.
Major export groups with high growth rates since the beginning of the year all decreased sharply in the first period of September, including: Computers, electronic products and components only reached 2.57 billion USD; machinery, equipment, tools, spare parts nearly 2.2 billion USD; phones and components nearly 1.9 billion USD, textiles 1.21 billion USD, footwear 623 million USD…
Some agricultural products still maintained a fairly high growth rate in the first half of September, led by vegetables and fruits bringing in 460 million USD, accumulated to September 15 reaching nearly 5.1 billion USD, aquatic products 378 million USD, accumulated to September 15 reaching nearly 6.7 billion USD, coffee 4.13 billion USD, rice exports reached 4.060 billion USD, cashew nuts 2.93 billion USD…
| Import and export in 2024 may reach record level |
In total, from the beginning of the year to September 15, the country’s total export turnover reached 279.38 billion USD.
In contrast, imports in the first half of September reached 14.55 billion USD, down nearly 3 billion USD compared to the second half of August 2024.
The two largest import groups in the first half of September were computers, electronic products and components, reaching 4.72 billion USD, accumulated to September 15 reaching nearly 74 billion USD; machinery, equipment, tools and spare parts 1.808 billion USD, accumulated to September 15 reaching 33.17 billion USD.
Imported phones and spare parts were nearly 500 million USD, accumulated by September 15 reaching 6.82 billion USD, imported fabrics of all kinds were 566 million USD, accumulated by September 15 reaching 10.25 billion USD.
Accumulated to September 15, the total import turnover of the whole country reached 261.34 billion USD.
Thus, the total import-export turnover up to September 15 reached 540.72 billion USD, of which the implementation of FDI enterprises was nearly 367 billion USD, the trade balance had a trade surplus of 18.04 billion USD.
Mr. Tran Thanh Hai assessed that Vietnam’s exports will certainly exceed the target set at the beginning of the year, which is an export growth of over 6%. If conditions are favorable, exports for the whole year are expected to maintain a double-digit growth rate.
Thus, in recent years, import and export have been a bright spot in the economic picture. Except for 2023, when import and export turnover grew negatively due to difficulties caused by the pandemic, in previous years, import and export turnover maintained double-digit growth. Every 2 years, import and export turnover increased by more than 100 billion USD, bringing Vietnam into the Top 20 economies with the largest import and export turnover in the world.
Affirming the state management role of the Ministry of Industry and Trade
Performing the role of advising the Ministry of Industry and Trade in implementing state management in the field of import and export, in recent times, the Import and Export Department – Ministry of Industry and Trade has advised the Minister of Industry and Trade in state management and law enforcement in the field of export and import of goods, origin of goods, international trading of goods, agency for buying, selling, processing and transiting goods with foreign countries, under the state management scope of the Ministry of Industry and Trade.
The Import-Export Department was established on November 12, 2012 under Decree No. 95/2012/ND-CP dated November 12, 2012 of the Government.
In the past time, the Import-Export Department has advised and directed many solutions to promote import-export activities. Accordingly, in 2023, the Import-Export Department advised the Ministry of Industry and Trade to issue 01 Decree and submitted to the Ministry’s leaders to sign and issue 07 Circulars regulating import-export activities. At the same time, advised on the issuance of Projects and Strategies on import-export.
In order to promote market development and export promotion, the Import-Export Department has proactively monitored and provided information on economic and political developments in countries to promptly advise and propose response solutions, as well as timely information to Associations, industries and import-export enterprises.
The Department also coordinates with the Ministry of Agriculture and Rural Development to negotiate with China to open more export markets for Vietnamese fruits and vegetables. Regularly discuss with export industry associations and foreign market departments to specifically identify new technical barriers to Vietnamese exports, difficulties and obstacles of export enterprises and report to the Prime Minister on solutions to support enterprises in responding to new technical barriers, promoting sustainable export development. In particular, coordinate with localities to organize a series of Conference events to take advantage of tariff incentives of new generation agreements in the new context (focusing on localities that are raw material areas for agricultural and aquatic product exports: Mekong Delta, Central Highlands, Central region, North) …
Regarding border trade activities, the Import-Export Department has continued to disseminate, orient and guide enterprises to carry out border trade activities and gradually export goods and products in the direction of official channels. In addition, closely monitor the situation at border gates and promptly notify and advise localities with goods exported through the provinces, especially fruits and agricultural products, to proactively improve the effectiveness of regulating goods and vehicles early and from afar to limit congestion at ports, causing damage to people and businesses…
The Department regularly updates and reports on the situation and developments of goods delivery and customs clearance at border gates and related issues; thereby, promptly coordinates with relevant agencies to handle arising issues.
The Department also actively and proactively proposes plans and participates in meetings to negotiate and implement Free Trade Agreements (FTAs); develops and issues Circulars guiding the implementation of rules of origin of goods under the Agreements. At the same time, coordinates with the Department of E-commerce and Digital Economy to digitize the issuance of C/O for traders. Through negotiations and exchanges with partner countries, Vietnam has implemented the issuance of full electronic C/O for C/O form D (ATIGA Agreement), AK and VK forms (AKFTA and VKFTA Agreements) and is in the process of exchanging and agreeing on technical aspects with the Eurasian Economic Union to implement the exchange of electronic C/O data.
In addition, strengthen research, forecasting and warning for export goods; closely monitor the import-export situation, border trade situation, coordinate with industry associations to grasp difficulties and obstacles of export enterprises, promptly advise, propose and recommend solutions to remove difficulties and promote exports. Advise on the issuance of legal documents to promptly guide commitments under signed FTAs, Comprehensive Economic Partnership Agreements that are being and will continue to be negotiated and signed in the coming time…
According to Congthuong.vn
