Garment and textile products have been a strength of Vietnam (Photo: VNA) As of December 15, the country’s total import-exportturnover had reached 701.3 billion USD, including 355.82 billion USD worth of exports,the highest so far.
Strong growth was seen in the exports of both domestic andforeign-invested sectors, with the later contributing 74.6%.
Upturn was reported in the export revenue of 35 out of 45 commodities, with 11 enjoying an increase of over 1 billion USD.
Meanwhile, 36 out of 45 exports recorded revenue of over 1 billion USD, including eight with more than 10 billion USD.
As of December 15, the country enjoyed trade surplus of10.36 billion USD.
Illustrative image (Source: VNA) Some experts attributed the results to the recovery of export markets andadvantages from free trade agreements (FTA). At the same time, foreign corporations' investment shifting for the restructuring of supply chains withlarger production scale has also motivated import-export activities.
Minister of Industry and Trade Nguyen Hong Dien said that in2023, the global trade is facing many pressures due to complicated developmentsof geopolitical tensions and increased inflation. This has forced manygovernments to tighten fiscal and monetary policies.
He advised businesses to change their mindset and pay greater attention to “greening”the supply chain in the international trade to meet increasing technicalrequirements of the world market.
The minister stressed the need to keep a close eye on thedomestic and global economic developments to give timely response.
He also pointed to the necessity to strengthen market forecasts and the update ofnew policies and regulations in foreign markets, while continuing to optimiseadvantages from FTAs./.
VNA
