All key exports see high growth in the first 4 months of 2021. (Photo: VNA) Hanoi (VNA) - Although many major markets of Vietnam are still strongly affected by the COVID-19 epidemic, the country's exports maintained a high growth rate in the first 4 months of the year.
In the four months, exports brought in 103.9 billion USD, up 28.3% over the same period last year, in which the domestic economic sector gained 25.77 billion USD, up 12.8%, accounting for 24.8% of total export turnover.
Among others, the agricultural, forestry and fishery sector has achieved many positive results with export turnover estimated at 8.25 billion USD, up 7.9% over the same period in 2020.
Notably, the export of processed industrial products continued to play a leading role. After 4 months, this group pocketed 89.73 billion USD, up 31.2% over the same period, accounting for 86.4% of the country's total export turnover.
Statistics show that Vietnam enjoyed high export growth in all main markets. For example, the exports to China gained 16.84 billion USD, up 32.4%. The figure to the EU, ASEAN, Republic of Korea and Japan, was respectively 12.55 billion USD, up 18.1%, 8.75 billion USD, up 13.3%, 6.9 billion USD, up 12.1%, and 6.5 billion USD, up 1.5%.
According to Tran Thanh Hai, Deputy Director of the Import-Export Department under the Ministry of Industry and Trade, the trade surplus to the EU with an increase of 19.3% over the same period last year shows that businesses have made good use of the European Union Vietnam Free Trade Agreement (EVFTA) in particular and other FTAs in general.
“We are actively taking advantage of opportunities from free trade agreements. Businesses have benefited a lot from these FTAs,” said the trade official.
Also in the past 4 months, Vietnam spent around 102.6 billion USD importing goods from abroad, up 30.8% over the same period last year.
Among imported goods, computers, electronic products and components accounted for 22.05 billion USD, up 24.8% over the same period in 2020. They were followed by machinery and equipment, tools and spare parts with an estimated turnover of 14.84 billion USD, up 31.7% over the same period in 2020.
By the end of April, Vietnam enjoyed a trade surplus of 1.29 billion USD (In the same period last year, the country suffered a trade deficit of 1.22 billion USD).
According to the Ministry of Industry and Trade, in the context that the world is still being heavily affected by the COVID-19 epidemic and other consequences from the disease, such as a lack of containers, increased freight rates..., the above result is very positive, showing a fairly sustainable development.
According to economic experts, import and export activities of Vietnam will continue to thrive in the coming time when free trade agreements are implemented in a more comprehensive and effective manner. In particular, agreements such as CPTPP, EVFTA, UKFTA... will continue to create favorable conditions for Vietnamese goods to penetrate into partner markets with preferential tariffs.
However, import and export activities are also facing various barriers. Among others are difficulties relating to goods transportation, disruption in many supply chains, uneven recovery from markets, increasing input costs, and sudden and repeated changes relating to food safety certification regulations in export markets.
To complete this year’s plan, the Ministry of Industry and Trade is increasing support for businesses in term of markets, while actively fostering administrative procedure reforms related to imports and exports, helping businesses reduce input costs, providing them with necessary information, and promoting the organization of online trade promotion activities.
The ministry is also closely monitoring developments of the COVID-19 pandemic in the world to take timely response measures. Besides, it is trying to seek ways to consolidate and expand export markets, taking full advantage of effective Free Trade Agreements (FTAs), while diversifying export markets and the structure of export products, improving competitiveness for export products and developing brands for the country’s key products./.
