According to the Ministry of Industry and Trade, Vietnam's export turnover of goods has grown significantly in the past 5 months, showing a strong recovery after the recession.
As of May, total import-export turnover of goods reached 66.62 billion USD, up 9.1% over the previous month and up 22.6% over the same period last year. In the first 5 months of the year, the total import-export turnover of goods reached 305.53 billion USD, an increase of 16.6% over the same period last year, of which exports contributed 156.77 billion USD, an increase of 15.2%.
In particular, export commodity groups such as vegetables, fruits and wooden products all had a breakthrough. Vietnam's fruit and vegetable export turnover reached 2.49 billion USD on May 20, up 25.7% over the same period last year, thanks to increased demand from key markets such as China, Korea, United States, Japan and Thailand.
Wood products and wood products also recorded a positive recovery, with exports estimated to reach 6.1 billion USD in the first 5 months of 2024, up 23.5% over the same period last year. This reflects the efforts of businesses to adapt and update market trends, from export processing to designing new, unique and high-quality products, attracting the attention of international customers. international.
In addition, thanks to the advantages of Free Trade Agreements (FTAs), such as CPTPP and EVFTA, Vietnam has taken advantage of its competitive advantage to maintain strong growth in agricultural and food markets. Products. These FTAs not only commit to reducing tariffs but also promote foreign investment in the agricultural sector, contributing to the global supply chain.
On the afternoon of October 1, at the meeting on the socio-economic situation in the first 9 months of 2024, the Department of Planning and Investment of Ho Chi Minh City said that many economic indicators have grown steadily. Notably, export turnover is on a recovery trend and has grown.
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On November 14, 2024, the forum "Da Nang Free Trade Zone – A New Driving Force for the Development of the City’s Logistics Industry" successfully took place, attracting dozens of domestic and international enterprises.
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On October 29, according to information from the Vietnam Trade Office in the Philippines (Ministry of Industry and Trade), total bilateral trade between Vietnam and the Philippines reached nearly USD 6.5 billion in the first nine months of 2024, marking an increase of over 20% compared to the same period last year.**
