Commodity exports continue to prosper

Exports continue to grow

According to the Ministry of Industry and Trade, in October, exports showed signs of recovery, export turnover was estimated at 27.3 billion USD, up 1% compared to the previous month (September export turnover decreased by 0.8% compared to the previous month). 8), an increase of only 0.3% over the same period.

In the first 10 months of 2021, export turnover was estimated at USD 267.93 billion, up 16.6% over the same period last year. In which, the export of the domestic economic sector was estimated at 69.77 billion USD, up 7.7% and accounting for 26.04% of the total export turnover of the country. The foreign economic sector continues to account for a major proportion of the country's export turnover.

Export activity continues to improve

Regarding the group of export products and commodities, in the past 10 months, the group of agricultural, forestry and fishery products was estimated at 22.33 billion USD, up 9.2% over the same period in 2020 due to the increase in both volume and quantity. export prices of a number of agricultural products such as cassava, rubber, pepper, cashew kernels, vegetables...

With the group of fuels and minerals, export turnover is estimated at 2.89 billion USD after 10 months, up 17.3% over the same period in 2020.

The group of processed industrial products continues to play an important role, contributing to the overall export growth of the country when accounting for 86.1% of the country's total export turnover. Specifically, in the first 10 months of 2021, the export turnover of this commodity group was estimated at $230.69 billion, up 18.1% over the same period last year (9 months, up 20.8% over the same period last year). prior to).

The products in the group of processing and manufacturing industries that make great contributions to the growth of export turnover are iron and steel of all kinds; machinery, equipment, tools and spare parts; wood and wood products; textiles and apparel; shoes of all kinds…

In the first 10 months of 2021, the United States continues to be the largest export market of our country when accounting for 28.37% of the total export turnover of the country, with an estimated turnover of 76.02 billion USD, an increase 21.9% over the same period last year. Next is the Chinese market; EU; ASEAN; South Korea; Japan…

In the opposite direction, the import turnover of goods in October was estimated at USD 26.2 billion, down 1.7% compared to the previous month. Generally, in the first 10 months of 2021, import turnover of goods is estimated at 269.38 billion USD, up 28.2% over the same period last year.

Trade balance gradually improved

With the above import and export results, the trade balance of goods in October was estimated to have a trade surplus of 1.1 billion USD.

In the first 10 months of 2021, the trade balance of goods is estimated to have a trade deficit of 1.45 billion USD. In which, the domestic economic sector has a trade deficit of 22.7 billion USD; FDI sector (including crude oil) had a trade surplus of 21.28 billion USD.

According to the Ministry of Industry and Trade, the main reason for the trade deficit in the first 10 months of 2021 is due to the recovery of the world economy, increased demand, and our enterprises have increased the amount of imported materials to serve production. Besides, the price of world goods increased, so the import price of input materials for production increased, contributing to increasing import turnover of our country. In addition, rising sea freight rates also increase costs and increase import value. Not to mention, the export situation affected by the epidemic has slowed down since June.

The Ministry of Industry and Trade also said that Vietnam's export activities are having advantages when we are effectively exploiting FTAs and the market demand is increasing at the end of the year shopping, especially for Vietnamese goods. advantage.

In addition, in many localities, due to the gradual control of the epidemic, production activities have gradually returned to a new normal state. This will contribute to the growth of import and export activities at the end of the year.

From now until the end of the year, in order to promote exports, the Ministry of Industry and Trade has been focusing on solutions to consolidate and expand export markets, taking full advantage of the FTAs that have taken effect; guide businesses to focus on small and niche markets. At the same time, strengthen the management of export and import of a number of strategic products. In addition, working with the Chinese Embassy proposed to facilitate customs clearance and export of goods through the northern border gate.

In addition, continue to innovate, organize trade promotion programs, connect domestic and foreign supply and demand on the online environment and on new platforms.

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