DNVN - The year 2024 is gradually coming to an end with positive signs of import and export, opening up great expectations for 2025. The strong increase in export and import turnover not only reflects the recovery of the economy but also poses remarkable opportunities and challenges for Vietnamese businesses.
According to the Ministry of Industry and Trade, the export turnover of goods in the first 10 months of 2024 is estimated at 335.59 billion USD, up 14.9% over the same period last year. This figure is a remarkable growth rate in the Asian region, where major economies such as China, South Korea and Thailand recorded increases of 4.3%, 9.6%, and 3.9%, respectively.
More notably, import turnover reached 312.28 billion USD, up 16.8%, showing an increase in demand for raw materials for domestic production.
In the list of Vietnam's largest import markets, China continues to lead with a turnover of 117.7 billion USD, up 31.6%. This rate reflects the active preparation of businesses in importing raw materials to meet orders at the end of 2024 and prepare for 2025.
The textile and garment industry is a clear example of this recovery. According to the Vietnam National Textile and Garment Group (Vinatex), many businesses are actively importing raw materials, expecting to meet the increased order volume in the fourth quarter of 2024 and the first quarter of 2025. The trend of shifting orders from countries such as China and Bangladesh to Vietnam has brought many opportunities, especially when inventory levels in major markets such as the US and EU are decreasing, helping to increase demand for orders again.
Similarly, the leather and footwear industry has also recorded significant growth. With an export target of 26-27 billion USD in 2024, the industry is striving to boost production to surpass the 24 billion USD figure of 2023.
Not only industrial sectors, agricultural products also recorded a breakthrough thanks to price advantages. Rice and coffee, two main commodities, are both on an upward trend, expected to continue to grow next year.
With the achievements made, the import-export prospect in 2025 becomes even brighter.
According to Mr. Tran Thanh Hai - Deputy Director of the Import-Export Department (Ministry of Industry and Trade), many factors are converging to promote growth, from the stability of the international market to the continued effectiveness of free trade agreements (FTAs).
The recovery of major markets such as the US and EU amid falling inflation will be an important driving force. Increased purchasing power, combined with the ability to further exploit FTAs such as EVFTA or RCEP, will help Vietnamese businesses expand their market share.
However, the challenges are not small. The "technical barriers" on quality, environment and labor are becoming more and more stringent. In addition, the risk of trade fraud and trade defense measures from other countries also need to be paid attention to by Vietnamese enterprises.
To make the most of opportunities, businesses need to focus on innovation and improving competitiveness. Building a long-term strategy, promoting the application of digital technology and improving the quality of human resources are the keys to sustainable development.
At the same time, taking advantage of support from State policies, enhancing trade promotion and proactively dealing with market fluctuations will help businesses stand firm in a fiercely competitive environment.
According to Dr. Nguyen Minh Phong, businesses also need to pay special attention to the risk of FTA abuse to illegally transport goods into Vietnam, affecting the reputation of Vietnamese goods. Close coordination between management agencies and businesses is a decisive factor to ensure the position of Vietnamese goods in the international market.
The year 2025 promises to bring great strides in import and export activities. With careful preparation and appropriate strategies, Vietnamese businesses can fully take advantage of the opportunity to reach further on the global trade map.
Duy Khanh
Source: https://doanhnghiepvn.vn/kinh-te/ky-vong-xuat-nhap-khau-2025-but-pha/20241117052353840
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