[NEWS] - Up 5.3%, goods imports in the second half of August continued to prosper

According to the General Department of Customs, our country’s total import turnover of goods in the second period of August (August 16-31) reached 14.97 billion USD, an increase of 5.3%.

This figure represents an increase of 754 million USD compared to results realized in the first half of August 2023.

Thus, the export turnover of goods will continue to maintain a continuous increase in the past 4 months, in both export and import of goods. Although the increase has not had a breakthrough and is not enough to compensate for the decline from previous months, this growth has brought many expectations for the last months of the year, when demand for products and goods increases. Globalization is on the rise again.

Another good sign is that the import turnover of goods has also had relatively stable growth in recent times. Import turnover of goods in the two August periods increased compared to the previous period and mainly in product groups serving production needs such as computers, electronic products and components, increasing to 156 million USD (comparable increase) equivalent to 3.8%); fabrics of all kinds increased to 92 million USD (corresponding to an increase of about 18.6%); Plastic raw materials increased by 67 million USD (corresponding to an increase of about 16.6%); Fertilizers of all kinds increased to 52 million USD (an increase equivalent to 105%)...

As of August, the country’s total import turnover reached about 208.27 billion USD, down about 15.9% (equivalent to 39.43 billion USD) compared to the same period last year.

It is forecasted that imports and exports will maintain an increasing trend shortly. But with growth, there will be a breakthrough. In the context of global economic instability, Vietnam’s growth rate in the coming time is expected when Vietnam is a highly open economy, along with the tendency to move sources closer to home consumer markets to minimize the risks of supply disruptions are increasingly evident in diversifying the supply of export markets in Vietnam..., shortly, the Ministry of Industry and Trade will also implement solutions to develop export markets.

Specifically, to promote negotiations and sign new agreements, commitments, and trade links, including completing and implementing the FTA with Israel and many more trade agreements with other partners potential (UAE, MERCOSUR...), FTA Agreements to diversify markets, products, and supply chains.

To support businesses to take advantage of commitments in the FTA Agreement, more specifically the UKVFTA, CPTPP, and EVFTA Agreements to promote exports, through propaganda on rules of origin and issuance of Certificates recognize the origin, opportunities, and ways to take advantage of opportunities from the Agreements.

Coordinate with the Ministry of Agriculture and Rural Development to negotiate with China to open more export markets for our country’s other fruit and vegetable products such as green grapefruit, fresh coconut, pineapple, star apple, avocado, lemon, melon,...

Improve efficiency and regulate the speed of customs clearance of import and export goods at border areas on the border between Vietnam and China, especially for agricultural and aquatic products of high quality part time; Moving quickly and strongly to official export...Indochina Holding acts as a bridge between domestic and foreign businesses. We will accompany and support small and medium-sized enterprises to export to developed countries around the world, to contribute somewhat to Vietnam’s export turnover in the future.

Hoang Yen (Collection source)