The Ministry of Investment and Trade (MOIT) has released a report on industrial production and trade activities in the first half of the year, showing an export decrease of 1.1 percent compared with the same period last year to $121.21 billion, the first decrease since the 2008-2009 global financial crisis.

In June, Vietnam’s total export turnover fell by 1 percent, but export turnover of the domestic economic sector increased by 3.7 percent, while the turnover of foreign invested enterprises (FIEs), including crude oil exports, decreased by 6.4 percent.

However, export turnover in June increased by 9.5 percent over the month before, reaching $21 billion.

Exports of fuels and minerals saw sharp increases, 27.6 percent for crude oil, 46.9 percent for petroleum products, and 102.6 percent for ore and minerals.

As for farm produce, seafood exports increased by 5.9 percent, vegetables and fruits by 11.2 percent, tea by 23.7 percent and rubber 44.7 percent

The Ministry of Investment and Trade (MOIT) has released a report on industrial production and trade activities in the first half of the year, showing an export decrease of 1.1 percent compared with the same period last year to $121.21 billion, the first decrease since the 2008-2009 global financial crisis.

Export turnover of these products surged by 10.5 percent to 17.4 percent.

Of these, chemicals exports saw the highest increase of 29.3 percent, camera and accessories 22 percent, textiles and garments 17.8 percent, and computer and electronics 10.4 percent.

Exports to China and the US, the two major markets, saw satisfactory results. Exports to China brought turnover of $19.5 billion, up by 17.4 percent, while the figures were $30.3 billion and 10.3 percent, respectively.

MOIT emphasised the growth in exports to CPTPP member countries. Export turnover to Australia, for example, increased by 2.3 percent, Chile 1.6 percent and Mexico 2.6 percent.

MOIT believes that the encouraging results were gained thanks to trade promotion activities that the ministry and businesses have implemented recently.

MOIT joined forces with Chinese local authorities to organize three online trade conferences to help Vietnam’s farm produce penetrate more deeply into the Chinese market. It also organized an online conference with India and a Vietnam-Japan conference on consumer goods.

MOIT said the opportunities to export products to CPTPP markets are very great. Two tons of Vietnam’s litchis sold out several hours after they were put on sale at supermarkets in Tokyo and Osaka.

The first 30 tons of mangos were exported by enterprises in Son La province to the US, Canada and Australia in June.

According to Ngo Tuong Vy from Chanh Thu Fruit Export, the company’s exports have increased by 30 percent since the new normal status was set up. 

Mai Lan

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