Exports reduce 12 percent in April due to long holidays: MoT

Many garment enterprises receive orders until Quarter 3 (Source: VietnamPlus)

Hanoi (VNA) - Exports in April reduced sharply compared to previous months due to fewer working days.

Prices of farm produces decline

Statistics from the Ministry of Industry and Trade showed that, in April 2019, export turnover reached 19.9 billion USD, down 12.6 percent compared to March 2019.  Long and several holidays in the period were claimed for the decline.

In the first four months of 2019, Vietnam’s export turnover rose by 5.8 percent year-on-year and surpassed 78.7 billion USD.

The ministry also revealed that, after four months, export of six out of nine goods items in agricultural and aquacultural groups reduced compared to the same period in 2018. For instant, seafood exports dropped 1.3 percent, coffee, 22.6 percent, rice, 21.7 percent and cassava and other cassava products, 4.5 percent.

Besides, prices of several farming products also reduced. Cashew nut dropped 20.8 percent, coffee, 10 percent, pepper, 25.9 percent, rice, 14.9 percent and rubber, 8.7 percent.

On the other hand, processing industrial group remained its leading role and contributed significantly in general growth. The group’s export turnover enjoyed a growth of 7.6 percent compared to the same period last year.

Some commodities saw a high growth such as computer, electronic and spare part (up 12.6 percent), garment 9.8 percent, footwear 13.4 percent, equipment, tool and other parts, up 4.1 percent; timber and wooden products, up 17.8 percent.

Regarding to garment and textile exports, Managing Director of Vietnam Textile Group (Vinatex) Cao Huu Hieu said, many enterprises in the industry received orders until end of the third quarter or even end of 2019.

He added “It’s a positive outlook for the whole sector to achieve this years’ set target.”

Meanwhile, export to key markets saw outstanding results, of which, the US market up 28.4 percent compared to the same period last year, EU market, 2.8 percent, ASEAN 7.3 percent, the Republic of Korea 7.3 percent, and Japan 6.6 percent, among others.

Export to big markets in April 2019

Trade surplus pockets over 710 million USD

On the other hand, imports in April reduced 2.6 percent compared to previous months, reaching about 20.6 percent.  Of which computer and spare parts dropped 9.5 percent, machinery, equipment and spare parts felt 1.4 percent.

In the first four months of 2019, Vietnam’s imports were estimated at 78.05 billion USD, up 10.4 percent compared to the same period in 2018.

According to the Ministry of Industry and Trade, in the four-month period, main imports of Vietnam were supporting products with a density of up to 88 percent of total imports.

Notably, imports from China up 18.8 percent compared to the same period last year, accounting for 22.3 billion USD.

With the result, after the first four months of this year, Vietnam’s trade surplus was estimated at 711million USD, a sharp fall of  3.7 billion USD compared to the same period last year.

Meanwhile, in order fulfill this year’s set target, exports in the remaining months of this year must achieve at least 184 billion USD ( around 23 billion USD a month), up 9 percent year-on-year.

It will be a difficult task as many commodities are facing recession. Hence, the Ministry of Industry and Trade said, it will strengthen activities to link aquaculture exporters of Vietnam to Chinese importers via border gates, especially strong export products such as fruit, seafood, and coffee, among others.

Besides, the Ministry will also intensify works to take full advantages of the Comprehensive and Progressive Agreement for Trans-Pacific –Partnership while carrying out supporting programmes for enterprises, especially for small and medium sized ones, to boost exports to foreign markets./.