Vietnam’s four-month exports surge despite pandemic

Vietnam’s export turnover increased by 4.7 percent year on year to nearly 83 billion USD in the first four months of 2020 despite an interruption to orders from key importers in Europe, American and Japan due to the COVID-19 pandemic.
Vietnam’s four-month exports surge despite pandemic ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – Vietnam’sexport turnover increased by 4.7 percent year on year to nearly 83 billion USDin the first four months of 2020 despite an interruption to orders from key importersin Europe, American and Japan due to the COVID-19 pandemic.

Thanks to their quick thinking and adaption to market demand, many businesseshave still been receiving regular orders.

Contrary to the shortage of orders for exporters in key sectors, enterprises specialisingin producing biodegradable packages and exporting fruit received steady ordersfrom partners in Japan, Europe, the US and Australia in the period.

According to Tran Thanh Hai, Deputy General Director of the Export-Import Departmentunder the Ministry of Industry and Trade, the US remained the largest market forVietnamese exports in the reviewed period, with a 20.3-billion-USD turnover, surging13.4 percent.

It was followed by China and Japan with respective turnovers of 13.1 billionUSD and 6.7 billion USD, up 26.7 percent and 10.1 percent, respectively.

The country’s exports to American markets also increased, including Chile (93percent), Colombia (93 percent), Peru (82 percent), Panama (73 percent), Mexico( 61 percent), and Argentina (55 percent).

However, Hai noted that export prospects will depend greatly on the disease’s developmentsin its major export markets such as the US, the EU and China.

He predicted that Vietnam’s exports to China and the Republic of Korea would recoverfaster than other markets because the COVID-19 is under control in the twocountries.

The Prime Minister’s recent decision to allow the resumption of rice exportshas contributed to promoting the nation’s export growth, he added. /.
VNA

See more

Part of Ha Long city in Quang Ninh province (Photo: VNA)

Quang Ninh targets 14% GRDP growth in 2025

Secretary of the Quang Ninh Party Committee Vu Dai Thang emphasised that achieving this target would require Quang Ninh’s economy to reach approximately 395 trillion VND (15.4 billion USD) in 2025.

Illustrative image (Photo: VNA)

Ministry responds to escalating global trade tensions

Amidst the complicated developments in the global market, the MoIT has directed foreign market departments and Vietnam’s trade offices abroad to closely monitor market trends, as well as economic, political, and policy changes in the region and the world that could impact trade with Vietnam.

The Vietnamese online shopping and food delivery sector used about 160,000 cardboard boxes and 171,000 tonnes of plastic, mainly single-use plastic, in 2024. (Photo: vneconomy.vn)

Ministry proposes developing green e-commerce law

The MoIT's draft proposal to develop the Law on E-commerce will be included in the National Assembly's law and ordinance development programme in 2025 and will be presented to the NA for consideration and comments in October 2025, before being approved at a NA meeting in May 2026.

In 2025, Goertek will invest in a new project and bring more experts and new technology equipment to Vietnam. (Photo: Goertek)

Vietnam expects big FDI wave in 2025

More than 4.33 billion USD in foreign investment was registered in Vietnam in January, an increase of 48.6% compared to the same period last year.