Vietnam is expected to maintain a trade surplus for the ninth consecutive year in 2024, given its export growth in the remainders of the year equal to that during January-July, according to experts.
The Asian Development Bank (ADB) has revised its economic growth forecast for developing Asia slightly up thanks to stronger domestic demand and export growth.
As many as 25 out of 28 northern localities reported positive annual growth in industrial production in the first four months of 2024, heard the 10th meeting of industry and trade sectors from 28 northern cities and provinces in Hanoi on May 17.
Ho Chi Minh City continued to lead the country in terms of export earnings in 2023 with 42.46 billion USD, although this result still decreased by 10.8% compared to 2022, according to the Vietnam Import-Export Report 2023 announced by the Ministry of Industry and Trade (MoIT)’s Agency for Foreign Trade on May 16.
The Vietnam Outstanding Export Products Fair or HCM City Export 2024 opened in Ho Chi Minh City on May 8 at the Saigon Exhibition and Convention Centre.
Exporters should further strengthen trade connections and improve the quality of their goods to sustain export growth to China as this is no longer a "lenient" market, said insiders.
Despite daunting challenges, Vietnam’s exports of wood and wooden furniture have shown signs of recovery since the end of 2023, Director of the Vietnam Chamber of Commerce and Industry (VCCI)’s Ho Chi Minh City Branch Tran Ngoc Liem said on February 26.
Vietnam’s exports improved in October, with significant growth observed in several key product categories. The export turnover for the month rose by 5.3% to reach 32.3 billion USD, reported the Ministry of Industry and Trade.
Thailand has recorded export growth for a second straight month in September, when the revenue increased 2.1% month on month to 920.39 billion THB (25.48 billion USD).
Vietnam’s agricultural sector needs to promote green and sustainable production toward increasing the value and competitiveness of farm produce and creating momentum for sustainable exports, said insiders.
The southernmost province of Ca Mau is striving for an average export growth rate of 5-6% per year in the 2021-2030 period and export turnover of 1.73 billion USD by 2030.
The Ministry of Industry and Trade plans to set a target of 6% growth in export value this year, considering unpredictable factors that can affect import-export, according to Deputy Minister Do Thang Hai.
The Mekong Delta province of Tien Giang aims to have 3.6 billion USD in export turnover of goods for this year, much more than 2021 and exceeding the plan for 2022 by 7.46%.
Although export growth slowed in September, the trade activity is still a bright spot in the national economy, with a trade surplus maintained at a high level in the first three quarters, hitting 6.52 billion USD.
The Association of Southeast Asian Nations (ASEAN) has recently gained the spotlight of the Global Trade Growth Atlas 2022 as it is forecast to lead the world in export growth over the next five years.
Vietnam saw a year-on-year increase of 17% in exports in the first six months, but it will be hard for overseas shipments to meet expectations in the last half of the year, according to the HSBC.
Vietnamese authorities should be vigilant about inflation risks associated with the continuing rise in the price of fuel and imports, which may dampen the ongoing recovery of domestic demand, according to the World Bank's (WB) monthly report on Vietnam, released on June 13.
Vietnam has set a goal of achieving an average export growth rate of 6-7 percent in the 2021-30 period, following the Government's strategy on import and export released recently.
Singapore’s key exports grew in December for the 13th month in a row, wrapping up 2021 as the best year for shipments since 2010, according to statistics the Government agency Enterprise Singapore (ESG) released on January 17.
