| Exports week 23-29/10: Cashew exports increased by 3 digits; clinker and cement exports earned over 1 billion USD Exports week 30/10-5/11: Pangasius and tuna exports expected to grow, Vietnam's rice exports flourish |
Squid and octopus exports will flourish
A newly released report by the Vietnam Association of Seafood Exporters and Producers (VASEP) said that Vietnam's squid and octopus exports as of October 15, 2023 reached more than 504 million USD, down 14% over the same period last year.
In the first 9 months of 2023, squid and octopus exports to South Korea reached more than 173 million USD, down 12% over the same period in 2022. South Korea is still Vietnam's largest squid and octopus import market, accounting for 36.4% of total export value.
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| Export of squid and octopus to Korea and China grows well |
Octopus was Vietnam's main export product to the Korean market in the first 9 months of this year, accounting for 71.8%, squid accounted for 28.2%.
VASEP said that China was the third largest import market for squid and octopus from Vietnam in the first three quarters of 2023, accounting for 10.2%. Vietnam's squid and octopus exports to China in the first nine months of 2023 reached 51 million USD, down 11% over the same period.
Squid and octopus exports to China in the third quarter of 2023 reached 24 million USD, up 11% over the same period. After 2 quarters of decline, in the third quarter, squid and octopus exports to this market recorded positive growth of 11%. In the first 9 months of 2023, octopus exports to China grew well by 77% while squid exports decreased by 18%.
Wood and wood products exports in October earned over 1.28 billion USD
According to preliminary statistics from the General Department of Customs, Vietnam's wood and wood product exports in October earned more than 1.28 billion USD, a sharp increase of 12.9% over the previous month. In the first 10 months of the year, the total export turnover of wood and wood products reached 10.9 billion USD, down 19.3% over the same period in 2022.
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| Wood and wood products exports in October earned over 1.28 billion USD |
In terms of market, the US continues to be the largest importing country. In the first 10 months of the year, the US spent 5.87 billion USD importing this group of goods from Vietnam, down 21.6% over the same period. The US has always been among the largest export markets of Vietnam in particular and the wood industry in general. In 2022, exports of wood and wood products to this market will reach 8.67 billion USD.
China ranked second with 1.41 billion USD in the first 10 months of the year, down 23% compared to the same period in 2022. Japan is the third largest market for Vietnam's wood industry. By the end of October, this country spent 1.38 billion USD importing wood from Vietnam, down 10.3% compared to the same period.
10 months of exporting cassava and cassava products, earning nearly 1.03 billion USD
Preliminary statistics from the General Department of Customs show that in the first 10 months of 2023, Vietnam exported nearly 2.4 million tons of cassava and cassava products, earning nearly 1.03 billion USD. Compared to the same period last year, exports of this item decreased by 6.4% in volume and 8.8% in value.
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| 10 months of exporting cassava and cassava products, earning nearly 1.03 billion USD |
Regarding export markets, China remains the largest customer. In the past 10 months, China spent 929.6 million USD to buy nearly 2.2 million tons of cassava and cassava products, accounting for 90.4% of Vietnam's total export turnover of this industry.
Among Vietnamese agricultural products exported to China, cassava and cassava products rank 5th in value, after vegetables, rubber, wood and wood products, and seafood.
Exports of goods to China increased to 49.5 billion
In the past 10 months, Vietnam exported 49.5 billion USD to China, up 5% over the same period last year, equivalent to an increase of 2.3 billion USD.
According to the Import-Export Department (Ministry of Industry and Trade), in the past 10 months, Vietnam exported 49.5 billion USD to China, up 5% over the same period last year, equivalent to an increase of 2.3 billion USD. Vietnam imported 89.74 billion USD worth of raw materials from China, down 10.2% over the same period. Total two-way trade turnover after 10 months reached 139.3 billion USD.
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| Durian is a billion-dollar export item to China. Photo: Investment Newspaper |
Leading the export turnover (9-month data) in March is the group of products including phones of all kinds and components, reaching over 10.8 billion USD, accounting for 25.4% of the export proportion; followed by the group of products including computers, electronic products and components, reaching 9.9 billion USD, up 12.1%, accounting for 23.3% of the export proportion.
The commodity groups with impressive export turnover growth compared to the same period last year include: Vegetables and fruits increased by 160.3%; rice increased by 55.2%; cashew nuts increased by 42.3%; paper and paper products increased by 76.8%; gasoline increased by 24.2%; coal of all kinds increased by 160.8%.
China is the main consumer market for many of our country's export industries. Therefore, China's reopening of the market from the beginning of 2023 has brought great expectations to businesses and industries, especially vegetables, seafood, fiber, cement, rubber, steel, textiles, rice, etc.
Import and export reached nearly 62 billion USD in October
According to information from the General Department of Customs, the total import-export turnover of the country in October reached nearly 62 billion USD. Of which, export turnover reached 32.25 billion USD, up 5.1% compared to the previous month.
In October, 8 groups of goods reached a turnover of 1 billion USD or more. Of which, 5 groups had positive growth compared to the previous month. The most impressive was footwear with a turnover of 1.74 billion USD, up 30.3%. Next were: cameras, camcorders and components reaching more than 1 billion USD, up 17.3%; wood and wood products reaching 1.28 billion USD, up 12.9%; machinery, equipment, tools and spare parts reaching 4.47 billion USD, up 9.9%; phones and components reaching 5.2 billion USD, up 3.3%.
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| Import and export of goods has improved in the last months of the year. |
Other key commodity groups are: computers, electronic products and components reached 5.1 billion USD, down 6.8%; textiles reached 2.57 billion USD, down slightly 0.1%; means of transport and spare parts reached 1.17 billion USD, down 3.5%.
In total, the country's export turnover reached 291.46 billion USD by the end of October, down 7% compared to the same period last year. In contrast, imports in October reached 29.52 billion USD, up 3.6% compared to the previous month. In total, import turnover in the first 10 months reached 266.87 billion USD, down 12.2% compared to the same period last year.
By the end of October, the country's total import-export turnover reached 558.33 billion USD, with a trade surplus of 24.59 billion USD.
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