Import and export growth is positive, the target of 6% is completely feasible

Vietnam's major consumer goods markets all increased their orders, resulting in double-digit growth in exports. Photo: Cuong Ngo

Export growth could reach, even exceed 6%

According to detailed statistics from the General Department of Customs, the total export value of goods in July 2024 reached 36.24 billion USD, up 7.7% over the previous month. Strong increases in commodity groups such as: Phones of all kinds and components; textiles; machinery, equipment, tools, spare parts; means of transport and spare parts; wood and wood products increased; rice increased...

Speaking to the reporter of Lao Dong Newspaper, Associate Professor, Dr. Dinh Trong Thinh - Economic expert - commented that the positive figures on the total import-export value of domestic enterprises in the first 7 months of 2024 show that domestic enterprises are trying very hard to promote export activities. Thereby increasing the ability to consume goods and products, as well as orienting our country's products in the world market.

"With the efforts of businesses and the support of the State, Vietnam is capable of achieving and even exceeding the export growth target of 6% in 2024. However, it is necessary to continue implementing synchronous solutions on market search, improving product quality and supporting businesses to achieve this goal" - Associate Professor, Dr. Dinh Trong Thinh affirmed.

According to Ms. Dinh Thi Thuy Phuong - Director of the Department of Trade and Services Statistics (General Statistics Office), one of the bright spots of the Vietnamese economy in the first half of 2024 is that the import and export turnover of goods achieved positive results.

The above results were achieved thanks to the efforts of the Government, which has strongly directed ministries, branches and localities, and the determination of enterprises to take advantage of the opportunities of free trade agreements, enhance trade promotion and promote Vietnamese products to the international market, and at the same time affirm the quality of Vietnamese goods that are trusted by the world.

Besides, it reflects the trend of world demand for some Vietnamese products maintaining a positive trend, domestic production activities recovering, meeting domestic demand and export in the coming time.

Seize opportunities, open markets

According to Ms. Dinh Thi Thuy Phuong, in the coming time, it is necessary to synchronously and effectively implement a number of groups of solutions such as continuing to diversify forms of widespread propaganda about incentives in FTA agreements, at the same time popularizing ways to make the most of market opening opportunities, boosting exports and improving the efficiency of exporting Vietnamese goods to markets that have signed FTAs, innovating trade promotion activities, focusing on promoting at the highest level the digital transformation program in trade promotion activities, connecting domestic and foreign supply and demand...

According to Associate Professor, Dr. Dinh Trong Thinh, to achieve and exceed the export growth target in the coming time, businesses need to actively seek new markets and customers, sign long-term and short-term export contracts (for holidays and Tet). Continue to improve production processes, save costs to reduce prices, increase profits, thereby having resources to invest in promotions and after-sales services. At the same time, improve the design and packaging of export products to meet market standards and tastes.

According to detailed statistics recently announced by the General Department of Customs, domestic enterprises' import and export turnover from the beginning of 2024 to present has improved, reaching 141.86 billion USD, an increase of 20.8%, equivalent to an increase of 24.47 billion USD compared to the same period in 2023.

The trade balance had a surplus of 14.53 billion USD, 1.97 billion USD lower than the surplus of 16.5 billion USD in the same period last year. Vietnam's major consumer markets all increased their orders, resulting in double-digit growth in exports.

Source: https://laodong.vn/kinh-doanh/xuat-nhap-khau-tang-truong-tich-cuc-muc-tieu-6-hoan-toan-kha-thi-1383533.ldo