Việt Nam’s exports are expected to thrive in the remaining months of the year thanks to local businesses'' concerted efforts and robust results during the January – September period, according to insiders.
Goods shipments to the US, Việt Nam’s largest market for export, have seen a strong resurgence over the recent months, with their value exceeding $10 billion in June and July.
Việt Nam''s exports to India reached US$8.5 billion for the first time in 2023, up nearly 10 per cent over the same period of 2022, according to the Vietnamese Trade Counsellor in India, Bùi Trung Thướng.
Việt Nam’s exports reached nearly US$33.6 billion in January, a 42 per cent surge over the same period last year and the highest level since April 2022.
The Southeast Asian economy''s trade surplus, however, remained positive at $125 billion this year, $33 billion with the EU and $92 billion with the US.
Exports of surimi (fish paste) and fishmeal could reach US$1 billion a year in the near future, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).
Analysts suggest that Việt Nam''s exports have reached their lowest point, and there are indications of recovery in the fourth quarter, aided by the depletion of US retailers'' inventories.
Việt Nam’s exports are set to recover in Q4, driven primarily by a bottoming out of the US inventory cycle, but also by an acceleration in the relocation of manufacturing from China to Việt Nam, according to Michael Kokalari, chief...
Enterprises must strictly comply with the requirements of key export markets in terms of origin traceability and production procedures to be able to expand exports.
Local businesses are struggling to tap into foreign markets as exports decline year-on-year. Deputy director of the Import and Export Department Trần Thanh Hải talks to VNA about how to improve the situation.