The Ministry of Industry and Trade has been implementing many solutions to achieve 12% growth in import and export activities by 2025.
Few working days, import and export slightly decreased in the first month of the year
According to the latest report of Ministry of Industry and Trade, due to the number of working days in January 2025 being less than in January 2024, the import and export turnover of goods in January 2025 compared to the previous month and compared to the same period last year both decreased. The total import and export turnover of goods in January 2025 is estimated at 63.15 billion USD, down 10.5% compared to the previous month and down 3.5% compared to the same period last year.
Specifically, the export turnover of goods in January 2025 reached 33.09 billion USD, down 6.9% compared to the previous month. Compared to the same period last year, the export turnover of goods in January 2025 decreased by 4.3%. In January 2025, there were 7 items with export turnover of over 1 billion USD, accounting for 67.9% of the total export turnover. Some key export items grew at double-digit rates (such as iron and steel products increased by 14.1%; Computers, electronic products and components increased by 13.3%).
In the opposite direction, turnover import January 2025 goods reached 30.06 billion USD, down 14.1% compared to the previous month. In January 2025, there were 3 imported goods with a value of over 1 billion USD, accounting for 49.3% of total import turnover.
The trade balance of goods in January 2025 is estimated to have a trade surplus of 3.03 billion USD (the same period last year had a trade surplus of 3.7 billion USD). Of which, the domestic economic sector had a trade deficit of 1.4 billion USD; the foreign-invested sector (including crude oil) had a trade surplus of 4.43 billion USD.
Although import-export turnover showed signs of a slight decrease in the first month of the year, the picture of import-export of goods also had some notable bright spots.
The first, Regarding the structure of imported goods in January 2025, the group of goods that need to be imported is estimated at 26.87 billion USD, accounting for 89% of the total import turnover of goods of the whole country. This signal shows that businesses have been increasing the import of products and goods as raw materials for production to serve the needs of producing export goods and domestic consumption in the coming months.
Monday, Export turnover of goods to the Chinese market reached 4.6 billion USD, up 25.2% over the same period last year. China is the largest trading partner of Vietnamese goods, so the continued growth of exports to this market shows that businesses have been and are continuing to take advantage of the opportunity from the close geographical location to promote exports to this market.
In particular, on February 6, 2025, in Mong Cai City, Quang Ninh Province, the signing ceremony for the acceptance of the handover of the office building and equipment for the agricultural and food laboratory (CCIC) at Bac Luan II border gate also took place. The laboratory has a total area of 430m2, designed and equipped with modern equipment according to international standards ISO 17025 with a total investment of 30 billion VND. Having more product quality inspection units will be a good opportunity for Vietnamese goods exported to China in particular and to other markets.
Increase solutions to promote import and export of goods
To increase import and export of goods in the coming time, the Ministry of Industry and Trade has determined to support businesses to take advantage of commitments in FTAs to boost exports, through propaganda about rules of origin, opportunities and ways to take advantage of opportunities from the Agreements.
In addition, strengthen activities to provide market information on digital platforms for localities, industry associations, and businesses.
The Ministry of Industry and Trade also determined to support the development and implementation of large-scale, regionally focused trade promotion activities for products and industries with regional strengths in target markets. At the same time, promote negotiations and signing of new trade agreements, commitments and linkages; coordinate with the Ministry of Agriculture to negotiate to open more types of fruit for official export.
For neighboring markets, the Ministry of Industry and Trade has been making efforts to promote a rapid and strong shift to official trade.
In addition, urge the EU to soon remove the IUU yellow card for Vietnam's seafood exports. Promote the development of supporting industries to increase the value-added content in export products...
According to the Vietnam Economic Research Report 2024 and Outlook 2025 recently released by KPMG, Vietnam's export prospects in 2025 may face major challenges, especially tariffs from some major markets. However, the advantage from the wave of production shifting from China to Vietnam will partly offset these difficulties.
“In that context, by 2025, businesses need to diversify their trade and investment partners beyond traditional markets; address labor and skills shortages to support growth,” KPMG’s report stated.
On the business side, Mr. Than Duc Viet - General Director of Garment 10 Corporation - JSC stated that contributing to the 12% growth target of import-export activities this year, the textile and garment industry aims to export 47-48 billion USD, an increase of 3-4 billion USD compared to last year. Vietnam is an important link in the global textile and garment supply chain, but to achieve the growth target, each enterprise must take advantage of market opportunities, exploit advantages from signed free trade agreements (FTAs), expand customer base, new markets... to achieve growth targets.
From the business perspective, speaking with reporters of the Industry and Trade Newspaper, Dr. Le Quoc Phuong - former Deputy Director of the Center for Industry and Trade (Ministry of Industry and Trade) expressed his opinion that, from the business perspective, in the context that countries are ready to use defense tools to protect domestic goods, export enterprises need to outline scenarios to be ready to respond to this. In addition, continue to stick to the market and implement technology investment solutions, optimize production costs to reduce costs and increase profits.
Enterprises also need to continue to diversify markets and implement the strategy of "not putting all eggs in one basket" to avoid possible risks from the import market.
“On the part of the Ministry of Industry and Trade, it is necessary to continue to promote the role of Vietnamese Trade Offices abroad in promptly informing about policy changes from import markets as well as the potential for Vietnamese exports. At the same time, it is necessary to do a good job of export promotion and early warning work to protect Vietnamese goods abroad,” Dr. Le Quoc Phuong stated.
Source
Comment (0)