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Ministry of Industry and Trade: April export decreased by more than 12% due to the long holiday

Ministry of Industry and Trade: April export decreased by more than 12% due to the long holiday

06-05-2019

 

Prices of many agricultural products went down

 

Statistics of the Ministry of Industry and Trade show that, in April 2019, export turnover was estimated at US $ 19.9 billion, down 12.6% compared to March 2019. The main reason is that there are many holidays during the month (the anniversary of the death anniversary and the holidays of April 30 to May 1). For the first 4 months of 2019, Vietnam's export turnover increased by 5.8% over the same period in 2018 and exceeded the figure of 78.7 billion USD.

 

According to the agency, after 4 months, up to 6/9 of agricultural and aquatic products decreased compared to the same period in 2018. For example, seafood export turnover decreased by 1.3%, coffee decreased by 22 , 6%, rice down 21.7%, cassava and cassava products down 4.5% ... Besides, prices of many agricultural products also went down. Cashew nuts alone fell by 20.8%, coffee by 10.4%, pepper by 25.9%, rice by 14.9%, rubber by 8.7%.

 

The bright spot was noted that the processing industry continued to play a leading role and made an important contribution to the overall growth. Accordingly, exports of this group increased by 7.6% over the same period last year. Some items have high growth rates, such as computers, electronic products and components (up 12.6%); Textiles and garments (up 9.8%); Types of footwear (up 13.4%); Machinery, equipment, tools and other spare parts (up 4.1%); Wood and wood products increase (17.8%) ...

 

Talking more about textile exports, Mr. Cao Huu Hieu, CEO of Vietnam Textile and Garment Group (Vinatex) informed that many enterprises in the garment sector have had orders in the third quarter, even the end of 2019. .

 

"This is a positive signal for the industry to achieve its goals this year," Hieu said. Meanwhile, exports to major markets also recorded many outstanding results. In particular, the US market reached 17.8 billion USD, up 28.4% over the same period last year. In addition, the EU market reached 13.7 billion USD, up 2.8%, ASEAN market reached 8.4 billion USD, up 7.3%. South Korea reached 6.2 billion USD, up 7.3%. Japan reached 6.1 billion USD, up 6.6% ...

 

Moreover, Vietnam is one of the markets that are benefiting from the export of goods to the US market. Information about this Mr. Vu Ba Phu, Director of Trade Promotion Department (Ministry of Industry and Trade) said that in the last 25 years, the two-way trade turnover between Vietnam and the US increased nearly 120 times, from 450 million. USD in 1994 increased to more than 60 billion USD in 2018.

 

“For many consecutive years, the United States has always been Vietnam's largest export market and one of the highest growth export markets of the United States,” Mr. Phu added.

 

Export to some major markets in 4 months of 2019:

 

Export surplus is more than 710 million USD

 

On the other hand, April imports decreased by 2.6% from the previous month, estimated at US $ 20.6 billion. Among them, computers, electronic products and components decreased by 9.5%, machinery, equipment, tools and spare parts decreased by 1.4%, iron and steel of all kinds fell by 1.2% ...

 

In the first 4 months of the year, the country's import figure is estimated at 78.05 billion USD, up 10.4% compared to the same period of 2018. Of which, the domestic economic sector reaches 32.80 billion USD, up 14 , 4% and the foreign invested sector reached 45.25 billion USD, up 7.6%. According to the Ministry of Industry and Trade, in the first 4 months of 2019, Vietnam's imports of goods still focused mainly on intermediate materials for production or processing of exports with a proportion of up to 88%. total import turnover. Notably, imports from China increased by 18.8% over the same period last year and reached 22.3 billion USD.

 

With the above results, after the first 4 months of the year, the country is trade surplus of about 711 million USD, a sharp decrease compared to the figure of 3.7 billion USD in the same period in 2018. Meanwhile, to complete the plan this year, exports in the remaining 8 months of 2019 must reach from 184 billion USD or more (equivalent to about 23 billion USD / month), an increase of about 9% compared to same period 2018.

 

This will be a difficult target in the context of many commodities showing signs of decline. Therefore, the Ministry of Industry and Trade said, the agency will strengthen the organization of activities connecting Vietnam's agricultural and fishery exporters with enterprises that have China's import demand through border gates. , especially for advantageous Vietnamese products and high demand for China such as fruits, seafood, rice, coffee ... In addition, the Ministry of Industry and Trade also promoted more into the Action Program to implement CPTPP Agreement, and organized propaganda, dissemination and support for businesses, especially small and medium enterprises to access the market, preparing procedures, sources of goods exported to the markets of CPTPP countries

 

Source:http://www.vinacas.com.vn/