Import and export turnover tended to decrease in keonhacai tv first 2 months of keonhacai tv year. keonhacai tv Ministry of Industry and Trade is actively promoting keonhacai tv implementation of solutions to support businesses.
Import and export turnover slows down
According to keonhacai tv Ministry of Industry and Trade, in January 2022, there are two Tet holidays, keonhacai tv number of working days in keonhacai tv month is small, so keonhacai tv total import-export turnover is low. However, by February, import and export activities had become active again with an estimated turnover of 49.46 billion USD, an increase of 6.2% over keonhacai tv previous month and an increase of 1.8% over keonhacai tv same period last year. last. In which, exports are estimated to increase by 9.8% over keonhacai tv previous month and 11% over keonhacai tv same period. Imports increased by 2.3% month-on-month and decreased by 6.7% year-on-year.
However, keonhacai tv absence of export orders plus keonhacai tv downward trend of commodity prices have made our country's trade activities continue to slow down in keonhacai tv first months of 2023. Generally in keonhacai tv first two months of 2023, export turnover of keonhacai tv country continued to slow down. Vietnam's goods import was estimated at 96 billion USD, down 13.2% over keonhacai tv same period last year. In which, export turnover decreased by 10.4%, reaching 49.44 billion USD; imports decreased by 16%, reaching 46.62 billion USD.
Specifically, in February 2023, keonhacai tv export turnover of goods was estimated at 25.88 billion USD, up 9.8% compared to January 2023, of which, keonhacai tv domestic economic sector reached 6.08 billion USD. , up 11.7%; FDI sector (including crude oil) reached 19.8 billion USD, up 9.3%. Compared to keonhacai tv same period last year, keonhacai tv export turnover of goods in February 2023 increased by 11%, of which keonhacai tv domestic economic sector increased by 5.7%, keonhacai tv foreign-invested sector (including crude oil) increased. 12.7%
Generally, in keonhacai tv first two months of 2023, merchandise exports were estimated at 49.49 billion USD, down 10.4% over keonhacai tv same period last year. In keonhacai tv first two months of 2023, there were 08 items with export turnover of over 1 billion USD, accounting for 69.9% of total export turnover.
Besides, keonhacai tv price of export goods in keonhacai tv first 2 months of keonhacai tv year recorded a decrease in most of keonhacai tv items, causing a decrease in overall export growth. keonhacai tv average export prices of agricultural products such as cashew kernels, coffee, cassava and cassava products decreased by 3.7%, 1.7% and 8.5% respectively over keonhacai tv same period last year. In particular, keonhacai tv price of pepper decreased by 31.4%, rubber decreased by 20.6%). Prices of processed industrial products also dropped sharply such as fertilizers down 25.5%, plastic raw materials down 24.8%, iron and steel down 32%.
However, prices of some commodities such as rice, gasoline, coal, and tea tended to increase over keonhacai tv same period last year.
In keonhacai tv first two months of 2023, export turnover of most commodity groups decreased, except for mineral fuels. In which, keonhacai tv export of agricultural and aquatic products was estimated at 3.88 billion USD, down 15.1% (688 million USD) over keonhacai tv same period; seafood exports alone decreased by 32.9% (US4 million), reaching only US billion; Export of processed industrial products was estimated to decrease by 9.8%, reaching 42.97 billion USD and accounting for 86.8% of total export turnover.
keonhacai tv fact that Samsung launched a new product line earlier than last year pushed keonhacai tv export turnover of phones and components to increase in keonhacai tv first 2 months of keonhacai tv year. In which, keonhacai tv export of phones and components reached .42 billion, up 7.6% over keonhacai tv same period in 2022.
Exports of fuels and minerals increased slightly (4.3%) in keonhacai tv first 2 months of 2023, estimated at 626 million USD, mainly because crude oil exports increased by 12.4% over keonhacai tv same period.
Regarding imports, keonhacai tv import turnover of goods in February 2023 was estimated at 23.58 billion USD, up 2.3% over keonhacai tv previous month. Generally in keonhacai tv first two months of 2023, import turnover is estimated at 46.62 billion USD, down 16% compared to keonhacai tv same period in 2022. Import of goods decreased in keonhacai tv first 2 months of keonhacai tv year due to keonhacai tv decrease in keonhacai tv demand for raw materials of enterprises in keonhacai tv first two months of keonhacai tv year. keonhacai tv context of a lack of orders, due to keonhacai tv fact that keonhacai tv price of imported goods has dropped significantly recently. There were 15/19 imported items with prices falling in keonhacai tv first 2 months of 2023 compared to keonhacai tv same period last year.
With such results, Vietnam's trade balance in February 2023 continued to have a surplus of 2.3 billion USD, bringing keonhacai tv total trade deficit in keonhacai tv first 2 months of keonhacai tv year to 2.82 billion USD (keonhacai tv same period last year, keonhacai tv more than 0 million). In which, keonhacai tv domestic economic sector has a trade deficit of 3.69 billion USD; FDI sector (including crude oil) had a trade surplus of 6.51 billion USD.
Exports face difficulties in many products and markets
keonhacai tv international context has negatively affected keonhacai tv exports of some key commodity groups of our country in keonhacai tv first two months of 2023. keonhacai tv Ministry of Industry and Trade informed that textile and garment exports to two key markets, keonhacai tv US and keonhacai tv EU, declined. decline; importing countries have stricter requirements from brands than before; China's opening will create a lot of pressure on textile exporting countries like Vietnam;
For wood and wood products, keonhacai tv main export markets such as keonhacai tv United States and keonhacai tv EU will continue to reduce import demand due to keonhacai tv effects of inflation, economic recession, and low consumer confidence. For keonhacai tv European markets, although benefiting from new-generation free trade agreements, keonhacai tv technical standards, conformity, requirements to prove keonhacai tv origin of wood ... that keonhacai tv EU posed are problems. not easy to overcome. Abundant supply, high inventory in markets, especially Japan and Korea, led to keonhacai tv trend of orders slowing down and export prices of wood materials falling. Although keonhacai tv Chinese market has reopened, keonhacai tv domestic supply chain has not completely recovered, which contains many risks;
Seafood importers in major markets such as keonhacai tv US, Japan, EU, UK... tend to reduce inventories to optimize costs in keonhacai tv context of high inflation causing consumers to tighten up. spending more than before” – keonhacai tv Ministry of Industry and Trade pointed out.
Regarding keonhacai tv market, in keonhacai tv first 2 months of 2023, Vietnam's exports to most key markets decreased sharply compared to keonhacai tv same period last year. Although keonhacai tv US is Vietnam's largest export market with an estimated turnover of 13.1 billion USD, down 21% over keonhacai tv same period. Exports to keonhacai tv EU reached .9 billion, down 4.2%; ASEAN reached .6 billion, down 8%; Korea reached 3.5 billion USD, down 5.7%; Japan reached .2 billion, down 5.9%... Particularly for keonhacai tv Chinese market, with keonhacai tv reopening policy from keonhacai tv beginning of 2023 after nearly three years of implementing keonhacai tv "Zero Covid" policy, it has had an impact. positive impact on Vietnam's exports to this market. In which, keonhacai tv export of goods to keonhacai tv Chinese market in keonhacai tv first two months of keonhacai tv year reached .2 billion, up 4.2% over keonhacai tv same period last year.
keonhacai tv Ministry of Industry and Trade strengthens businesses to remove difficulties
According to keonhacai tv analysis of keonhacai tv Ministry of Industry and Trade, according to keonhacai tv cycle of previous years, keonhacai tv trade deficit usually comes in keonhacai tv first months of keonhacai tv year because businesses promote keonhacai tv import of raw materials for export production. But this year with keonhacai tv absence of orders from keonhacai tv main markets, keonhacai tv situation of importing input materials has somewhat subsided. This also shows that import and export activities are likely to remain difficult in keonhacai tv coming months.
Therefore, keonhacai tv Ministry of Industry and Trade is continuing to closely monitor developments in keonhacai tv world market, Advising and supporting cooperation frameworks and solutions to simultaneously develop traditional markets and diversifying export markets. export. In addition, supporting businesses to take advantage of signed FTAs to effectively exploit markets, promote exports, etc.
keonhacai tv Ministry of Industry and Trade has been continuously organizing trade promotion conferences to provide market information and find solutions to overcome difficulties for import and export enterprises.
At keonhacai tv recent January trade promotion conference, Minister Nguyen Hong Dien shared that keonhacai tv Ministry of Industry and Trade will focus on market development solutions, especially in Northern Europe, Eastern Europe and Latin America. … and new markets have plenty of room for exploitation.
At keonhacai tv same time, promote keonhacai tv negotiation of new free trade agreements (FTAs) such as FTAs with Mercosur countries (Brazil, Argentina, Uruguay, Paraguay) to turn this FTA into a driving force to exploit keonhacai tv Latin American market. Take advantage of keonhacai tv rapid recovery of markets in keonhacai tv ASEAN region and some Asian countries to boost exports.
In addition, keonhacai tv ministry will comprehensively evaluate China's reopening measures, taking advantage of opportunities for exchanges and cooperation between keonhacai tv two sides to boost exports of goods that are not subject to COVID-19 testing. Improve efficiency and well regulate keonhacai tv speed of customs clearance at keonhacai tv border gate.
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