By mid-July, Vietnam's trade surplus was 11.88 billion USD; Pangasius exports flourish in many markets... are the highlights in the export news week of July 15-19.

By mid-July, Vietnam's trade surplus was 11.88 billion USD

According to data from the General Department of Customs, by mid-July 2024, the country's total export turnover reached 16.26 billion USD. Among them, there are 4 product groups with a turnover of 1 billion USD or more, including: computers, electronic products and components; Phones and components; machinery, equipment, tools, spare parts; textiles.

The results achieved in the first half of July brought the total export turnover from the beginning of the year to July 15 to 207.25 billion USD; increased by 15.19% over the same period last year (equivalent to an increase in turnover of 27.33 billion USD).

On the contrary, in the first half of July, the country's total import turnover reached 16.43 billion USD.

Two groups of billion-dollar imported goods in this period are computers, electronic products and components; machinery, equipment, tools, spare parts.

Accumulated from the beginning of the year to July 15, the country's total import turnover reached 195.37 billion USD, up 17.7% over the same period last year (equivalent to an increase in turnover of 29.37 billion USD).

Thus, from the beginning of the year to July 15, the country's total import-export turnover reached nearly 403 billion USD, an increase of 56.7 billion USD compared to the same period in 2023.

In the first half of July, the whole country had a slight trade deficit, but overall from the beginning of the year to July 15, our country still had a trade surplus of 11.88 billion USD.

Fruit and vegetable exports increased sharply, reaching nearly 4 billion USD

This is the latest data calculated from the Vietnam Fruit and Vegetable Association, based on information from customs. This number increased by over 23% compared to the same period last year. Businesses in the industry said that durian, banana and dragon fruit are the main products contributing to the growth of export turnover in the first 7 months of this year.

Fruit and vegetable exports increased sharply, reaching nearly 4 billion USD

If considered by market, China is still the largest import market for fruits and vegetables from our country, accounting for 64% of total export turnover with 2.1 billion USD in the first half of the year, an increase of 22% over the same period. Durian is still the most popular fruit in the market.

The Central Highlands is the largest durian growing region in the country. When this area enters the full harvest season, it will boost turnover in the coming months. In 2023, Vietnam's durian exports will reach their highest value in September and October, with a value of nearly half a billion dollars per month.

"I believe that in the coming months durian exports will likely continue to increase strongly, helping the fruit and vegetable industry complete its target of 6.5 - 7 billion USD"; Mr. Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association predicted.

Currently, the authorities of Vietnam and China have completed technical negotiations and are in the process of signing the Protocol to export frozen durian from our country to the billion-people market.

After China, the markets that import the most vegetables and fruits from Vietnam are Korea, the US, and Japan. A special point is that in the top 5 there is also the presence of Thailand - a competitor of Vietnam in exporting fruits and vegetables to China.

Pangasius exports flourished in many markets

Vietnam Association of Seafood Exporters and Producers, in 2024 pangasius exports will begin to recover and prosper in some markets; including the market block under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Pangasius exports flourished in many markets

Vietnamese pangasius is also thriving in some traditional markets with significant exports to Vietnam in the first 7 months of 2024; including the United Arab Emirates (UAE) market and countries in the West Asian market, along with countries in the Middle East and Africa; even when the CEPA Free Trade Agreement is in the negotiation stage and has not yet been signed.

According to statistics from the Vietnam Association of Seafood Exporters and Producers, Vietnam is the largest source of pangasius products in the UAE market, about 40-50% of the total pangasius supply in this market. It is estimated that by the end of July 2024, pangasius export turnover to the UAE market is estimated to reach more than 15 million USD, an increase of 47% over the same period in 2023. At the same time, not only the UAE market, but also the Chinese market, Vietnam's traditional pangasius export market, is also assessed by businesses to have outstanding growth in the first 7 months of 2024.

In addition to exporting products containing processed pangasius, the use of pangasius waste products to create high-value products is also fully utilized by businesses that impose tax on pangasius exports. Accordingly, collagen and gelatin products extracted from pangasius skin are currently popular with many consumers around the world.

Rice exports are forecast to improve at the end of the year

Many businesses predict that rice exports will flourish at the end of this year when demand for rice imports increases from traditional Vietnamese customers.

Rice exports are forecast to improve at the end of the year

The whole country has harvested nearly 400,000 hectares of Summer-Autumn rice with an estimated yield of 6.2 tons/ha. Abundant supply, while the world's demand for rice imports is increasing, makes many businesses predict that rice exports will flourish at the end of this year.

Currently, the average export price of 5% broken rice is 600 USD/ton and 25% broken rice is 544 USD. Although lower than the price at the beginning of the year, compared to the same period last year, it still increased by about 30 - 35%.

The Philippines, Indonesia, Malaysia and China are still the main consuming markets of Vietnamese rice. Vietnam is also actively expanding into new markets such as the Middle East, Africa, South America, Korea, and Japan.

According to businesses, the adjustment of export rice prices at this time helps them be proactive and purchase rice more easily. They predict prices will recover in the near future when at the end of the year the demand for imported rice also increases from traditional Vietnamese customers.

In addition, according to the Ministry of Agriculture and Rural Development, by early July, localities had harvested about 388,000 hectares out of 1.46 million hectares sown in the summer-autumn crop, with an estimated yield of 6.2 tons/ha. Abundant supply is always a support to promote rice export activities in the coming time.

According to the Ministry of Industry and Trade, in the near future, if India abolishes and relaxes rice export policies, it is understandable that world rice prices will adjust downward. However, the demand for rice in countries around the world is still high and we can still promote rice exports from now until the end of the year.

Source: Cong Thuong Newspaper