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| In the first 9 months of 2023, the total export turnover of goods is estimated at 259.67 billion USD, down 8.2% over the same period last year. (Source: VGP) |
Nine months, import and export of goods reached nearly 500 billion USD
According to the General Statistics Office, the total import-export turnover of goods in the first 9 months of 2023 reached 497.66 billion USD, nearly reaching the 500 billion USD mark. Of which, the export turnover of goods in September increased by 4.6%, with the domestic economic sector increasing by 17.9%, and the foreign-invested sector (including crude oil) increasing by 0.5%.
In the third quarter of 2023, export turnover is estimated at 94.6 billion USD, down 1.2% year-on-year and up 10.3% compared to the second quarter of 2023.
In the first 9 months of 2023, the total export turnover of goods is estimated at 259.67 billion USD, down 8.2% over the same period last year.
In the first 9 months of 2023, there were 31 items with export turnover of over 1 billion USD, accounting for 92.2% of total export turnover (there were 6 items with export turnover of over 10 billion USD, accounting for 62.2%).
On the other hand, the import turnover of goods in September 2023 is estimated at 29.12 billion USD, down 0.7% compared to the previous month.
In the first 9 months of 2023, the total import turnover of goods is estimated at 237.99 billion USD, down 13.8% over the same period last year, of which the domestic economic sector reached 85.12 billion USD, down 11.8%; the foreign-invested sector reached 152.87 billion USD, down 14.9%.
In the first 9 months of 2023, there were 37 imported items with a value of over 1 billion USD, accounting for 89.7% of total import turnover (there were 2 imported items with a value of over 10 billion USD, accounting for 39.3%).
Regarding the trade balance, September is estimated to have a trade surplus of 2.29 billion USD. In the first 9 months of 2023, the trade balance of goods is estimated to have a trade surplus of 21.68 billion USD (the same period last year had a trade surplus of 6.9 billion USD).
A Vietnamese spice earns more than 15 million USD
Statistics from the Vietnam Pepper Association (VPA) show that Vietnam's chili exports in August this year reached 545 tons, with a turnover of 0.9 million USD, down 31.3% in volume compared to July.
In the first 8 months of the year, Vietnam exported a total of 8,296 tons of chili, earning more than 15.7 million USD, a sharp increase of 136.2% compared to the same period in 2022. In the first 8 months of the year, the average chili export price was 1,892 USD/ton, a sharp decrease of 28% compared to 2022.
Statistics from the Vietnam Pepper Association (VPA) show that Vietnam's chili exports in August this year reached 545 tons, with a turnover of 0.9 million USD, down 31.3% in volume compared to July.
In the first 8 months of the year, Vietnam exported a total of 8,296 tons of chili, earning more than 15.7 million USD, a sharp increase of 136.2% compared to the same period in 2022. In the first 8 months of the year, the average chili export price was 1,892 USD/ton, a sharp decrease of 28% compared to 2022.
Currently, domestic chili prices are being sold at 22,000 to 28,000 VND/kg. The total chili growing area in the world at present is about 19.89 million hectares. In 2020, the global chili production was about 60 million tons, including hot chili, green chili and bell pepper. Currently, Asia is the largest chili producing region in the world and accounts for 80% of global production.
In addition, the global chili trade is worth about $35 billion a year, not inferior to coffee or tea. In China, the chili growing area is more than 1.3 million hectares, accounting for 35% of the total growing area of the world.
It is estimated that China exports about 70,000 tons of chili powder and dried chili each year to markets in Spain, the US, Mexico and countries in the Southeast Asian region...
The textile market is "warming up"
Mr. Pham Xuan Hong, Chairman of the Ho Chi Minh City Textile, Embroidery and Knitting Association, assessed that the textile market has warmed up and gradually stabilized in the last months of the year. More specifically, although there is still a shortage of orders, businesses still ensure jobs for workers in the fourth quarter, the decline in revenue and difficulties have also lessened.
This result is due to the recent prolonged decline in the textile industry. When consumer demand for textile products recovers, markets also have new demand.
“Although the market is still difficult in terms of price, competition in small orders, and designs are more difficult and complicated, businesses are trying very hard to meet the requirements, thus promoting consumption and signing contracts with partners,” said Mr. Pham Xuan Hong.
Regarding the increasingly high standards of American and European importers, the Chairman of the Ho Chi Minh City Textile, Embroidery and Knitting Association said that most Vietnamese enterprises can meet them (except for regulations related to recycling, which are not really clear), and in terms of emissions and environment, they can completely meet them.
Data from the Vietnam Textile and Apparel Association shows that in August 2023, textile and garment exports reached nearly 3.6 billion USD, down 6% compared to July.
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| The textile market has warmed up and gradually stabilized in the last months of the year. (Source: Industry and Trade Newspaper) |
In the first 8 months of the year, textile and garment export turnover reached 26.1 billion USD, down 16% over the same period in 2022. With this result, the textile and garment industry has completed 65% of the target of reaching 40 billion USD in export turnover in 2023.
Similar to the analysis of the Chairman of the Ho Chi Minh City Textile, Embroidery and Knitting Association, information provided by market research units also shows that the textile market is likely to warm up towards the end of the year.
In the latest analysis report on the textile industry, SSI Research Securities said that orders for Vietnam's textile industry are expected to gradually improve from the fourth quarter of 2023.
SSI Research forecasts that the selling price of exported garments will continue to remain low, about 20% lower than the average in the first half of 2022, and only slightly improve for FOB orders.
Therefore, the profit margin of manufacturing enterprises continues to narrow despite the gradual improvement in input material costs; gross profit margin will hardly return to its peak in 2019.
In particular, SSI Research experts believe that the trend of orders with smaller volumes and faster delivery times (previous delivery times were up to 2 months and can now be shortened to 3-4 weeks) will last until 2024.
"Pure gold" opportunity from wood industry waste
Wood chips, shavings, sawdust, wood ends, branches, etc. are all "waste products" of the wood and plywood manufacturing industry in Vietnam. However, this year these "waste products" are expected to bring Vietnam nearly 800 million USD in export value when produced into pellets. Pellets are a type of clean energy fuel, used to replace coal, gasoline, oil, etc. and are being chosen by many countries around the world to reduce emissions.
According to the Vietnam Timber and Forest Products Association, wood pellets are among the top five export products in the wood industry. Vietnam is the second largest exporter of wood pellets in the world.
According to statistics from the Vietnam Pellet Association, there are currently 400 pellet factories with an average capacity of about 5 million m3/year, worth 800 million USD. The entire industry's capacity can be increased to 10 million m3/year, meeting the consumption demand for this product.
Input materials are not picky, wood pellet processing facilities do not need to invest too much in modern technology. Therefore, the pellet industry is an opportunity for many businesses. However, to export wood pellets in both quantity and price, businesses need to grasp good market information and meet the requirements of the export market.
The biggest problem to increase the value of pellets is the need for full forest certification for exported pellet output.
The output of raw materials used to produce wood pellets currently depends heavily on the wood processing industry. Therefore, to meet the growing demand for wood pellets in the coming time, businesses need to proactively source raw materials to ensure input supply for production.
Currently, the area of certified forests is only about 430,000 hectares, out of a total area of about 3.6 million hectares of planted forests in Vietnam.
Mr. Nguyen Ba Duy - Vice President of Vietnam Wood Pellet Association said: "The association is encouraging its members to create their own raw material areas by supporting farmers in cultivation."
In addition to the FSC international certificate, which is recognized globally, the Vietnamese forestry industry has developed a system for granting Vietnamese plantation certification. Accelerating the granting of plantation certification will have great significance, increasing the value of Vietnamese wood products, including pellets.
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