Positive signals for exports in remaining months of 2024

Vietnam’s exports are expected to thrive in the remaining months of the year thanks to local businesses' concerted efforts and robust results during the January – September period, according to insiders.

The country was estimated to ship some 300 billion USD worth of goods abroad during January – September, rising 16% against the same time last year.

Tran Thanh Hai, Deputy Director of the Agency of Foreign Trade under the Ministry of Industry and Trade, said several groups of products posting export revenue of more than 10 billion USD each included machines, equipment, tool and spare parts, telephones and components, computers, electronic products and components, textiles, wood and wooden products, vehicles and spare parts while there were 11 groups of products and 31 groups of goods with export turnover of over 5 billion USD and 1 billion USD each, respectively.

According to the Ministry of Agriculture and Rural Development (MARD), agro-forestry-aquatic product exports rose 21% to over 46 billion USD during the nine-month span, with the value of agricultural products accounting for the lion share of 24.85 billion USD, a year-on-year increase of 27.7%.

The Vietnam Fruits and Vegetables Association (VINAFRUIT) said fruit and vegetable exports reached a record high of 5.6 billion USD, surging 34% against the same time last year. The revenue is equal to the figure of the whole 2023 and is expected to grow strongly in the last quarter.

As Typhoon Yagi has left devastation for the agricultural sector, the MARD and localities are working to recover for stable production and early completion of export orders.

Deputy Director of the MARD’s Department of Forestry Trieu Van Luc said the forestry industry is making efforts to concretise and even surpass its export target of 15.2 billion USD for the whole year.

The ministry is continuing to support enterprises to improve their capacity in responding and resolving trade competition issues while organising exhibitions and trade promotion events to seek and expand markets for forestry products, he said.

Economists held that with a view to ensuring stable economic growth, localities not affected by Typhoon Yagi are accelerating production in compensation for the difficulties that the typhoon-hit provinces are encountering.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien affirmed that the sector is striving to realise the export revenue target of 54-55 billion USD assigned by the government./.