Workers at a garment factory in the northern province of Hung Yen. (Photo: VNA) According to a report from the General Statistics Office (GSO), the country’stotal export turnover of goods in the first two months of 2024 reached 59.34billion USD, a 19.2% increase compared to the same period last year.
The domestic economic sector accounted for 16.14 billion USD, a33.3% increase, 27.2% of the total export turnover. The FDI sector, includingcrude oil, reached 43.2 billion USD, a 14.7% increase, 72.8% of the totalexport turnover.
Wood and wood products, in particular, have shown high exportresults in the first two months of this year.
Tran Xuan Thien, CEO of Thien Linh Plywood Company, said that the globaleconomy showed signs of slowing down in 2023, resulting in fewer orders. Hesaid, however, that demand seemed to have picked up since the beginning of theyear. He said his company has secured orders until mid-2024.
Other exports including textiles, leather and footwear, iron andsteel, electronics, aquatic products, fruits and vegetables, rice and coffeehave all experienced significant growth compared to last year.
Deputy Minister of Agriculture and Rural Development (MARD) PhungDuc Tien said in February, the total export of agricultural, forestry and aquaticproducts reached 4.48 billion USD, a 21.8% increase compared to the same periodlast year.
In the first two months of the year, the total export turnover of theseproducts is estimated at 9.84 billion USD, a 50.3% increase, with a tradesurplus of 2.68 billion USD. The sector aims to achieve an export target of 54-55billion USD in 2024. Tien stressed the importance of the diversity of exportmarkets and improved quality of Vietnamese agricultural products, as recognisedby markets such as the US, the EU and Japan.
He said the ministry believed Vietnam has ample opportunities toboost chicken meat exports to Halal markets. Once negotiations are completed,the Dehus Group can export up to 1,000 tonnes per month to Halal markets, witha total population of up to 2.2 billion people and significant potential.
Le Tien Truong, Chairman of the Vietnam National Textile and GarmentGroup (Vinatex), noted that Vietnam'seconomic position is expected to significantly improve in 2024 as theglobal economy continues to recover.
"Many competing economies are facing many issues with labourand armed conflicts domestically, while Vietnam remains a safe destination,which will help in securing additional orders," he said.
However, he said the financial health of Vietnamese businesses hadbeen weakened after going through a prolonged difficult period, as well as newchallenges, such as a 6% increase in minimum wage from July 1, 2024, and thepossibility of further increases in electricity prices after a 7% rise in2023./.
VNA
