Vietnam’s aquatic export recovery has yet to meet expectations although the negative growth rate has been eased, prompting businesses to further explore small markets in order to raise their sales.
Fifteen years after it expanded its administrative boundaries, Vietnam’s capital Hanoi has enjoyed rosy development in various fields, including industry and trade.
Vietnam could see its e-commerce export revenues rise to 296.3 trillion VND (12.5 billion USD) by 2027, heard the 2023 Cross-Border E-Commerce Conference in Vietnam in Hanoi on June 7.
Raffaele Cattaneo, deputy minister in charge of international relations of Italy’s Lombardia region, called Vietnam a “diamond” of Asia and an attractive destination for Lombardia enterprises while speaking at a recent business and investment forum in Milan.
Seven items posted export turnover in excess of 5 billion USD during the January-May period, including phones and components; electronics, computers and components; and garments and textiles, according to the General Statistics Office.
Vietnam has posted a trade surplus of 9.8 billion USD in the first five months of the year, with export revenue standing at over 136 billion USD and import revenue at more than 126 billion USD, according to the General Statistics Office.
The Association of Southeast Asian Nations (ASEAN) remains an important market of Vietnam with export revenue hitting 10.85 billion USD in the first four months of this year, accounting for 10% of the country’s total.
Fishery products shipped overseas earned 2.63 billion USD for Vietnam between January and April, down 27.7% year-on-year, according to the Ministry of Agriculture and Rural Development.
The Trade Office at the Vietnamese Embassy in India, in collaboration with the Andhra Pradesh Economic Development Board, held an online conference on April 12 on opportunities for business and investment cooperation between Vietnam and the Indian state.
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 import-export revenue of agro-forestry-fisheries products in the first quarter of this year was estimated at 20.63 billion USD, down 11.2% year on year, according to the Ministry of Agriculture and Rural Development (MARD).
Vietnam ran a trade surplus of 4.07 billion USD in the first quarter this year, with 79.17 billion USD in export revenue and 75.1 billion USD in imports, down 11.9% and 14.7% annually, respectively, reported the General Statistics Office on March 29.
Total import-export revenue in the first two months of this year is estimated at 96.06 billion USD, down 13.2% year on year, with a trade surplus of 2.82 billion USD, reported the General Statistics Office (GSO).
The electronics industry has seen good progress in recent years, accounting for about 18% of the total industrial production value and more than 30% of the total export revenue of the country.
Vietnam is paying attention to mobilising resources to invest in developing green agriculture with an aim to raising the market share of its agricultural exports to the European Union.
The 15 free trade agreements (FTAs) to which Vietnam is a member are expected to give a boost to Vietnam’s export activities this year, towards the growth target of 6%.
Vietnam’s import-export turnover in December is estimated at 58.82 billion USD, up 2.7% over the previous month, pushing the total in the whole year to 732.5 billion USD, a year on year rise of 9.5%, with a trade surplus of 11.2 billion USD, according to the General Statistics Office (GSO).
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