Maintain trade growth target

Unstable market

In the first 3 months of 2025, the total retail sales of goods and consumer service revenue is estimated at VND 21.4 trillion, reaching 26% of the annual plan and increasing by 10% over the same period last year. Of which, the total retail sales of goods are estimated at VND 16.8 trillion (up 9%); accommodation and catering services are estimated at VND 3.3 trillion (up 16%); tourism is estimated at VND 10.7 billion (up 9%); other consumer services are estimated at VND 1.4 trillion (up nearly 14%).

However, growth in some key products was unstable. Specifically, beer decreased to about 47 million liters (down 19%); steel is expected to reach about 1.2 million tons (down 8.8%); confectionery of all kinds decreased to about 2,588 tons (down 2.2%); garment products decreased to about 3.6 million pieces (down 2.6%). The main reason was the decrease in market demand; steel products in particular were greatly affected by the consumption demand of markets around the world.

High-quality rolled steel products at Hoa Phat Dung Quat Steel Factory (Dung Quat Economic Zone). Photo: TN

The province's export turnover in the first quarter of 2025 reflects the difficulties in finding markets for goods of enterprises in the province. According to the report of the Department of Industry and Trade, the export turnover in March is expected to reach about 233 million USD (down 4.4% compared to February and down 8.7% compared to the same period last year). The accumulated turnover in the first 3 months of the year is expected to reach about 675 million USD (down 2.8%), reaching 24.6% of the yearly plan. Some specific products decreased such as tapioca starch estimated at 32 million USD, down 36%; wooden furniture estimated at 1.6 million USD, down nearly 21%; wood chips for paper materials estimated at 23 million USD, down nearly 18%; garments estimated at 22 million USD, down 21%; processed food estimated at 0.8 million USD, down nearly 44%; Mechanical products are estimated at 7.3 million USD, down 68.7%. In particular, FO oil products are estimated at 14.3 million USD, down 12%; steel is estimated at 200 million USD, down 30%...

According to the analysis of the Department of Industry and Trade, the decrease in export turnover of steel products is due to the general impact of the import and export situation of Vietnamese steel. This product is currently facing a large amount of cheap Chinese steel flooding the market, which has been putting pressure on steel prices, affecting the price and export output of steel in the province. As for tapioca starch products, the sharp decrease in export turnover compared to the same period in 2024 is due to the impact of price competition with similar products in the world market.

According to the Department of Industry and Trade, in the past 3 months, the consumption of mechanical products has decreased sharply compared to the same period last year, specifically by nearly 69%. The reason is that enterprises produce according to orders but have not yet shipped goods; tapioca starch has decreased by 36% due to the impact of fierce price competition that has lasted from the last months of 2024 until now and shows no signs of stopping.

Currently, the Government and Quang Ngai province are making efforts to implement solutions to help enterprises in the steel, tapioca starch, and garment industries overcome difficulties and stand firm against new challenges from the world market. A series of trade defense measures, especially anti-dumping measures to protect the legitimate rights of production activities against unfair competition, are being implemented. The Government is also researching, promulgating a legal framework and organizing a reasonable, strict, transparent trade defense enforcement apparatus in accordance with the regulations of the World Trade Organization (WTO), helping enterprises overcome the wave of instability from the market.

Director of the Department of Industry and Trade Vo Van Ran said that in order to protect legitimate rights and help businesses stand firm in the face of difficulties, the Government needs to have a synchronous solution to prevent unfair price competition. At the same time, it is necessary to stimulate domestic consumption for quality products produced by businesses in the province to help them stand firm right at home. Businesses also need to control production and business activities to avoid price competition that is not beneficial to them.

It is important that enterprises need to improve product quality by optimizing production according to a closed process; proactively restructure and increase investment in advanced technology to reduce costs and create the best competitiveness in the market.

THANH NHI

 

Source: https://baoquangngai.vn/kinh-te/202504/giu-vung-muc-tieu-tang-truong-thuong-mai-d884938/