With the increase in both prices and quantities as well as export markets of many key commodities, Vietnam’s export sector is attempting to accelerate to reach its target during the last months of the year. Many items will reach the target
Since 2009, 2014 is the first year in which Vietnam’s export growth rate is higher than that of import in the last nine months, and it is most likely to increase in the future. If this situation does not change, it is expected that Vietnam’s exports would record a considerable growth rate, and even surpass its targets. According to statistics from the General Department of Vietnam Customs, up to now, many major export items have nearly achieved their objectives. Specifically, there are 21 export commodities which reached US$1 billion or more, in which processing industries accounted for 11 products and the others 5 products belonging to the group of agriculture, forestry and fisheries.
The processing industry with export turnover of US$85.5 billion, up by 27.3 percent and making up approximately 70.6 percent continued maintaining its leading position of the export growth rate. Many items in the group with the increasing turnover are: Bakery and cereal products; chemicals; plastic products; bags, suitcases, hats, umbrellas; rattan, bamboo, sedge, carpet; wood and wood products; textiles and apparel; fibres, yarns of all kinds; footwear; raw materials, textile, leather and footwear; iron and steel; Iron and steel products; other base metals and products; computers, electronic products and components; telephones and accessories; machinery, equipment, tools and spare parts; wires and cables; vehicles and spare parts, in which it is necessary to mention telephones and spare parts which increased to 78.4 percent and reached the turnover of US$20.3 billion, placing the first on the list of items with turnover of more than US$1 billion.
Fisheries, one of the agricultural commodities in the group of agriculture, forestry and fisheries, will achieve its objectives. While many agricultural products experienced many ups and downs in export turnover, export turnover in fisheries remained relatively stable with two-digit export value growth (13 percent-42 percent) and export markets being broadened with an increase of 15-45 percent. The report from the Ministry of Agriculture and Rural Development showed that seafood export value in October was estimated at US$736 million, raising the export value of the first 10 months to US$6.48 billion, up 19.9 percent compared to the same period in 2013. The Vietnam Association of Seafood Exporters and Producers (VASEP) has forecast that the export turnover of this commodity will exceed US$7 billion this year.
Regarding the market, Vietnam’s export commodities continue gaining a rather high growth rate in some traditional export markets such as the US, EU, Japan and Korea. The United States is still considered Vietnam’s leading seafood import market, accounting for 22.25 percent of the total export value. Seafood exports to this market in the first 9 months reached US$1.28 billion, up 25.77 percent compared with the same period of 2013. In the first 9 months of the year, seafood exports to other markets such as Japan, Korea and China also increased with the growth rate of 7.73 percent, 43.11 percent and 24.90 percent, respectively.
Speeding up in the last months
The last months of the year are considered “shopping season” in most countries around the world, especially around Christmas and New Year. Statistics of recent years show that Vietnam’s export turnover often dramatically increased in the last months. This is also good time for commodities with low export turnover to accelerate to achieve given targets.
As reported by the Ministry of Agriculture and Rural Development, export volume of cassava and cassava products in October was estimated at 239,000 tonnes with a value of US$87 million, pushing the total volume of export commodities in the first 10 months up to 2.72 million tonnes valued at US$901 million. If this rate continues, cassava will also be placed among the top billion dollar items.
Also, in terms of export price, some raw export commodities are being influenced by falling world prices such as: pepper; rice; rubber; coal; crude oil; fuel types; ore and other minerals; fertiliser; plastic materials; iron and steel. Prices of coffee for export in the first 9 months of 2014 reached US$2,076/ tonnes, down 3.2 percent compared to the same period in 2013; rubber prices reached US$1,767/ tonnes, down 25.46 percent. Businesses have actively held activities to encourage labour, invested in modern equipment to improve productivity as well as quality of products in order to achieve its objectives.
Under the plan, in the last months, businesses will continue to expand and diversify export markets, utilize market opportunities and incentives under international commitments, especially the FTA to increase exports and better exploit traditional markets as well as develop new markets, especially potential markets in Eastern Europe, West Asia, Africa, Latin America.
In addition, businesses actively and positively participate in international fairs; organise market survey groups to markets such as Japan, Korea and United States, to seek partners, access technology and expand export markets. Along with that, the Government should continue to focus on solving difficulties, boosting production – business; implement measures to support and encourage development of agriculture – forestry – fishery and boost production, maximize market demands to increase exports.
Thu Ha
Đăng ký: VietNam News