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By the end of September, the trade balance had a surplus of nearly 22 billion USD

According to the latest preliminary statistics announced by the General Department of Customs on the afternoon of October 10, the country's import-export turnover in September 2023 reached 59.16 billion USD. Of which, exports reached 30.68 billion USD, down 6.3% compared to August 2023.

During the month, there were 7 product groups with a turnover of 1 billion USD
During the month, there were 7 product groups with a turnover of 1 billion USD

During the month, there were 7 product groups with a turnover of 1 billion USD, including Computers, electronic products, and components reached 5.48 billion USD; phones and components reached 5.04 billion USD; machinery, equipment, tools, and spare parts reached 4.07 billion USD; textiles reached 2.57 billion USD, footwear reached 1.34 billion USD; Transport vehicles and spare parts reached 1.21 billion USD; Wood and wood products reached 1.14 billion USD. By the end of September, the country's total export turnover reached 258.97 billion USD, down 8.5% over the same period last year.

On the contrary, imports in September recorded a figure of 28.48 billion USD, down 2.9% compared to the previous month. By the end of September, the country's total import turnover reached 237.33 billion USD, down 14% compared to the same period in 2022.

Thus, by the end of September, Vietnam's import-export turnover reached 496.3 billion USD. The trade balance reached a surplus of 21.64 billion USD.

Notably, the export turnover of goods has gradually improved over the quarters. Specifically, export turnover in the first quarter of 2023 decreased by 11.9%; The second quarter decreased by 11.8% but in the third quarter it only decreased by 8.5% over the same period. From these positive signals, it can be expected that world demand is showing signs of recovery, and Vietnamese businesses are starting to tend to import more, thereby creating momentum for Vietnam's exports to achieve growth. quite in the last months of the year.

In the coming time, to increase import-export turnover, the Ministry of Industry and Trade will promote negotiations and sign new agreements, commitments, and trade links with potential partners (UAE, MERCOSUR... .) to diversify markets, products, and supply chains.

In addition, support businesses to take advantage of commitments in FTA Agreements, especially the Agreements: CPTPP, EVFTA, and UKVFTA to promote exports, through propaganda on rules of origin and licensing. Certificate of origin, opportunities, and ways to take advantage of opportunities from Agreements.

For example, at the CPTPP Council meeting held directly in New Zealand last July, Minister of Industry and Trade Nguyen Hong Dien and authorized representatives of the countries signed the UK's CPTPP accession documents.

The Ministry of Industry and Trade is currently developing a dossier for ratification of the UK's CPTPP accession documents, which is expected to be submitted to the National Assembly at the first session in 2024.

Particularly with the recently signed Vietnam-Israel Free Trade Agreement (VIFTA), the Ministry of Industry and Trade is conducting internal procedures according to the provisions of the 2016 Law on International Treaties to submit to the Government for approval of VIFTA, This agreement will soon be put into effect, expected from early 2024. In parallel, the ministry will research, develop, and deploy activities to widely disseminate VIFTA's commitments to the business community.

The Ministry of Industry and Trade will also coordinate with the Ministry of Agriculture and Rural Development to negotiate with China to open more export markets for other Vietnamese fruit and vegetable products such as green-skinned grapefruit, fresh coconuts, avocados, pineapples, Star apple, lemon, melon... At the same time, improves efficiency and regulates the speed of customs clearance of import and export goods at the border gate area between Vietnam and China, especially for goods. Agricultural and aquatic products are seasonal; Move quickly and strongly to official export. Strengthen early warning of trade defense lawsuits; guide businesses on how to respond to lawsuits; Timely inform businesses and associations about new market information, needs, and regulations.

(Cong Thuong)


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