Garment products are made for exports at a factory in Thanh Hoa province. (Photo: VNA) Despite posting a positive export turnover over the pastten months with a trade surplus reaching a record level, businessesare still facing market fluctuations while transportation costs haveremained very high since the outbreak of the COVID-19 pandemic, trade expertshave said.
Than Duc Viet, General Director of Garment 10 Company, told baodautu.vn that therehad been a decline in orders for the remaining months of 2022 andeven the first half of 2023.
Instead of chasing large-scale orders, Garment 10 focused oncompleting small-scale orders but could earn high turnover as they wouldnot be easy for many firms due to their complexity, Viet said.
According to Cao Huu Hieu, General Director of Vietnam NationalTextile and Garment Group (Vinatex), Vietnam and the world economywere still facing many challenges in the fourth quarter.
Meanwhile, yarn demand and selling prices were still low andmany yarn enterprises failed to have orders for November and December.
At the same time, the garment industry encountered moredifficulties. Most garment companies saw orders for November andDecember at about 35-50% lower than their production capacities. Thefirms had also faced fierce competition in price.
The director suggested that businesses should base on thesituation of domestic and foreign markets to implement business programmesand plans for next year.
They should also draw up measures to respond to negativemarket situations as well as unpredictable fluctuations of the financial marketand interest rates, he told baodautu.vn.
As an exporter of food materials, ASIA Groupsaid difficulties in business and production wereinevitable at the end of 2022 and 2023. Specifically, the appreciationof the US dollar would have adverse effects on imports and thesupply chain would likely be disrupted.
In that context, applying high technology to productionwould help businesses optimise productivity and improve efficiency, Directorof ASIA Group Le Nguyen Doan Duy told baodautu.vn.
The latest report from the General Statistics Office showed thatthe country's trade surplus reached 9.4 billion USD over the past tenmonths, compared to a modest 630 million USD in the same period last year.
The 10-month foreign trade stood at about 616.24 billion USD, up14.1% from the same period last year.
That included 312.82 billion USD in exports, rising 15.9%, with 80.36billion USD coming from the domestic sector (up 13.4%) and 232.46 billion USD fromthe foreign-invested sector (up 16.8%).
Thirty-two commodities recorded export revenue of over 1 billionUSD each during the period, accounting for 92.8% of total overseasshipments. Among them, six brought home over 10 billion USD each, making up64.1%.
Meanwhile, Vietnam imported about 303.42 billion USD worth ofgoods, increasing 12.2% year on year, with the domestic sector accountingfor 105.28 billion USD (up 12.5%) and the foreign invested sector, 198.14billion USD (up 12%).
Forty-four commodities posted import value of over 1 billion USD each,accounting for 93% of the total imports. Four of them saw this figure atover 10 billion USD each, accounting for 52.7%, statistics showed.
Between January and October, the US was the largest importer,purchasing some 93.4 billion USD worth of Vietnamese goods. China ranked firstamong exporters when shipping 100.7 billion USD worth of goods to Vietnam.
Vietnam is on track to see a trade surplus of 10 billion USD thisyear despite enduring global market uncertainties and fluctuations, Minister ofTrade and Industry Nguyen Hong Dien said, adding that this is certainly aspectacular achievement for Vietnam this year.
He attributed these positive results to solutions the Government,ministries, and especially the business community have implemented to stimulateconsumption demand and connect product consumption outlets in order to promotetrade exchanges.
In the future, priority would be givento promoting exports, strengthening appropriate import management,and ensuring a harmonious and sustainable trade balance besideto promoting official exports in association with industryrestructuring, Dien said./.
VNA
