Export turnover increased by 20.23 billion USD; FDI enterprises account for 67.6% of total import-export turnover... are prominent news in the export news week from June 10-16, 2024.

In 5 months, Vietnam's export turnover increased by 20.23 billion USD

According to newly announced information from the General Department of Customs, Vietnam's total export turnover in the period May 2, 2024 (May 16-31) reached 17.56 billion USD; increased by 20.2% (equivalent to an increase of 2.95 billion USD) compared to the first period of May 2024.

Export turnover in the second period of May 2024 fluctuated compared to the first period of May 2024 in some important product groups such as: Phones of all kinds; components increased by 710 million USD (equivalent to an increase of 39.9%); machinery, equipment, tools and spare parts increased by 558 million USD (equivalent to an increase of 31.2%); computers, electronic products and components increased by 327 million USD (corresponding to an increase of 12.6%); Iron and steel of all kinds increased by 262 million USD (equivalent to an increase of 98%)...

In addition, the Customs agency's statistical data also recorded a sharp decrease in the turnover of some export commodity groups in the second period of May 2024 compared to the previous period such as:

Crude oil decreased by 37 million USD (corresponding to a decrease of 33.1%); chemical products decreased by 27.3 million USD (equivalent to a decrease of 22.9%); Coffee decreased by 18.1 million USD (corresponding to a decrease of 10.3%)…

Thus, by the end of May, Vietnam's total export turnover reached 156.28 billion USD, an increase of 14.9% over the same period last year (equivalent to an increase of 20.23 billion USD).

Statistics from the General Department of Customs also show that the export turnover of enterprises with foreign direct investment (FDI) in the second period of May 2024 reached 12.66 billion USD; increased by 22% (equivalent to an increase of 2.28 billion USD) compared to the first period of the month.

Accumulated by the end of May, the total export turnover of FDI enterprises reached 111.93 billion USD; increased by 13.1% (equivalent to an increase of 12.95 billion USD) over the same period last year, accounting for 71.6% of the country's total export turnover.

FDI enterprises account for 67.6% of the country's total import-export turnover

According to the latest statistics of the General Department of Customs, by the end of May 2024, the country's total import-export turnover reached 303.94 billion USD; increase by 16% (equivalent to an increase of 42 billion USD) over the same period in 2023.

Of which, the total import-export turnover of FDI enterprises reached 205.44 billion USD, an increase of 13.7% (equivalent to an increase of 24.82 billion USD) over the same period last year; Total import-export turnover of domestic businesses is 98.5 billion USD, an increase of 21.1% (equivalent to an increase of 17.18 billion USD).

Thus, FDI enterprises accounted for 67.6% of the country's total import-export turnover in the past 5 months.

Regarding exports, in the second period of May (May 16-31), the turnover of FDI enterprises reached 12.66 billion USD; increased by 22% (equivalent to an increase of 2.28 billion USD) compared to the first period of May 2024, bringing the total export turnover of FDI enterprises in 5 months to 111.93 billion USD, an increase of 13.1% (equivalent to increased by 12.95 billion USD) over the same period last year, accounting for 71.6% of the country's total export turnover.

FDI enterprises dominate Vietnam's key export product groups such as computers, electronic products and components; Phones and components; devices…

On the contrary, imports of goods by FDI enterprises in the 2nd period of May was 9.68 billion USD, down 10.1% (equivalent to a decrease of 1.09 billion USD) compared to the 1st period of May 2024.

In total for 5 months, the total import turnover of FDI enterprises reached 93.51 billion USD; increased by 14.5% (equivalent to an increase of 11.87 billion USD) over the same period last year, accounting for 63.4% of the country's total import turnover. In the past 5 months, the trade balance of FDI enterprises reached a surplus of 18.42 billion USD.

Vietnam's shrimp exports are expected to grow

According to VASEP, accumulated from the beginning of the year to May 15, 2024, the export turnover of Vietnamese shrimp reached 1.1 billion USD, an increase of 8.3% over the same period last year.

As of May 15, 2024, Vietnamese shrimp exports to the EU reached 134 million USD, up 1.2% over the same period last year. Although the cumulative number from the beginning of the year only increased slightly, shrimp exports to this market have tended to increase well in recent months.

Export turnover of Vietnamese shrimp increased by 8.3%

Accumulated to May 15, shrimp export turnover to Japan reached 161 million USD, down slightly by 3% over the same period last year. Cumulative export value from the beginning of the year decreased slightly but has shown signs of increasing since April.

Orders from the EU and Japan are expected to increase in the second quarter of this year. Especially in the EU market, there are signs of increased demand, especially for certified shrimp products. Demand from Japan is also quite positive, but orders are slower due to the devaluation of the yen and Golden Week (an important long holiday in this country).

As of May 15, 2024, Vietnamese shrimp exports to China & Hong Kong (China) reached 223 million USD, up 31% over the same period last year. Although the cumulative number increased, exports to this market have shown signs of decreasing in recent months.

The seafood industry aims to export more than 10 billion USD

According to statistics from the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first 5 months of the year, the country's seafood exports reached nearly 3.6 billion USD, up 6% over the same period in 2023. Among the main products, squid, octopus and other fish (sea fish, freshwater fish) had lower export value compared to the same period last year, with a decrease of 1% and 3% respectively.

The seafood industry aims to export more than 10 billion USD

Meanwhile, shrimp and pangasius exports increased slightly, up 7% and 4%, respectively. The crab product group had the strongest growth (up 84%), tuna also increased positively (22%), and shellfish exports increased by 13%.

Among the top 5 markets of Vietnamese seafood, the US is the market with the most positive growth with an increase of 7% in the first 4 months of the year. Exports to Korea increased slightly by 2%. Exports to China, Japan and the EU are almost equivalent to the same period last year.

VASEP assesses that, in the context of many difficulties, seafood exports still grew by 6% in the first 5 months of the year, which is an encouraging result on the path of recovery and development of the industry.

VASEP forecasts that seafood exports in the first half of 2024 will reach 4.4 billion USD, up 6% over the same period in 2023. Of which, shrimp exports will reach 1.65 billion USD; Pangasius reached 910 million USD; tuna reached 457 million USD; squid and octopus reached 294 million USD; crab reached 119 million USD; shelled molluscs reached nearly 74 million USD.

Source: Cong Thuong Newspaper