In 2024, it is expected that the country's import-export turnover could reach 800 billion USD, a record number ever.
Reporter of Industry and Trade Newspaper had an interview with Dr. Le Quoc Phuong - Former Deputy Director of the Center for Industry and Trade Information - Ministry of Industry and Trade about this issue.
 |
| Dr. Le Quoc Phuong - Former Deputy Director of the Center for Industry and Trade Information - Ministry of Industry and Trade |
Sir, by mid-November, the country's import-export turnover had reached 681.48 billion USD, almost equal to the whole year of 2023 (reaching 681 billion USD), with turnover increasing in both export and import directions. What do you think about this result?
In recent times, the country's import-export turnover has reached impressive figures in both export and import. According to the General Department of Customs, by mid-November, the country's import-export turnover was equal to the whole year of 2023, a very remarkable result.
Of which, export turnover increased sharply, up to 15.8% compared to the same period last year, up to the end of October. In addition, import turnover of goods also increased by 16.8% compared to the same period last year. In the first 10 months of 2024, the preliminary trade balance of goods had a trade surplus of 23.31 billion USD (the same period last year had a trade surplus of 24.8 billion USD).
Notably, although import turnover increased higher than export turnover, the country still had a trade surplus. The reason is that import turnover is mainly production materials, serving production, domestic consumption and export. Therefore, the high import turnover is a good sign.
Another notable highlight is that the export turnover of domestic enterprises also increased sharply. In the first 10 months of 2024, the domestic economic sector reached 93.97 billion USD, up 20.7%, accounting for 28.0% of total export turnover, the foreign-invested sector (including crude oil) reached 241.62 billion USD, up 12.8%, accounting for 72.0%.
Thus, export growth of the domestic economic sector is much higher than that of the foreign-invested sector.
In addition, the export ratio of domestic enterprises in the total export turnover of goods has also gradually improved. Previously, the export turnover of FDI enterprises was up to 76% of the total export turnover, but now it has gradually decreased.
In the context of domestic enterprises mainly exporting agricultural products - a group of goods with low absolute value in the total group of exported goods. In addition, the FDI enterprise sector mainly exports industrial products - a group of goods with high absolute value, and is continuing to increase investment in Vietnam. It can be seen that this figure is a great effort of domestic enterprises.
However, it must be clearly recognized that 2023 is a very difficult year for import and export activities, so the import and export turnover of 2024 will grow on a fairly low basis. However, the import and export figures up to this point in 2024 are slightly higher than in 2022 - the year Vietnam set a record for import and export. Therefore, according to my forecast, it is likely that this year, Vietnam's import and export may continue to reach a record, possibly approaching 800 billion USD; the trade surplus will be at 25-27 billion USD.
 |
| Agricultural products are the main export item of domestic enterprises (Photo: VNA) |
You just mentioned the efforts of export enterprises, especially domestic enterprises. However, this year, enterprises also benefited from the increase in agricultural export prices. What is your comment on this?
It is true that the export prices of many agricultural products are increasing. Agricultural products are the main export products of domestic enterprises. But enterprises do not only benefit from prices. I have had discussions with enterprises, both FDI and domestic enterprises, and found that enterprises have made great efforts and are ready, preparing very carefully. Therefore, although 2023 will face many difficulties, they always believe that everything will be good again, opportunities will come. Thanks to this preparation, enterprises have grasped the opportunities very well when market demand increases again.
Along with that, we cannot fail to mention the efforts of the Government, ministries, branches and associations in creating the best conditions for businesses to operate and import and export to achieve such results.
What do you think about the role of the Ministry of Industry and Trade in the import-export achievements of 2024?
I think that the mark of the Ministry of Industry and Trade in the import-export achievements is quite strong not only in 2024 but also in many past years. In the context of many difficulties, the Ministry of Industry and Trade has promptly advised the Government on policies and activities to increase the import-export turnover of goods.
In recent times, I believe that the Ministry of Industry and Trade has made great efforts to open markets for goods through the implementation of many important trade promotion programs to markets, creating conditions for Vietnamese goods to be known in the world market. Trade promotion conferences with Vietnamese trade offices abroad are also maintained, providing a huge source of updated information on export markets for businesses.
Recently, Vietnam signed an FTA with the UAE. This is a sweet fruit, in which the Ministry of Industry and Trade has made a huge contribution. Since 2022, the Ministry of Industry and Trade of Vietnam and the Ministry of Economy of the UAE have proactively studied the possibility of negotiating and signing a bilateral free trade agreement (FTA), and the signing of the FTA has brought about great results.
The Ministry of Industry and Trade also supports businesses to effectively utilize FTAs by making good use of the rules of origin. Thanks to that, the rate of utilizing FTAs is very high.
Recently, the trade offices under the Ministry of Industry and Trade have also made efforts to support businesses with market information. This is a great opportunity for businesses to take advantage of the opportunity to boost import and export.
In particular, I think that the Ministry of Industry and Trade has done a good job in providing early warnings of trade defense cases in import markets in recent times, creating conditions for Vietnamese goods to avoid unnecessary risks in export activities. At the same time, it has promptly applied trade defense measures to foreign goods imported into Vietnam. This activity needs to continue to be strongly implemented to effectively support import and export activities in the coming time.
Thank you!
Source: https://congthuong.vn/thanh-tich-xuat-nhap-khau-ky-luc-cua-nam-2024-co-dong-gop-lon-cua-bo-cong-thuong-360179.html
Comment (0)