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Key exports tend to sharply decrease

07:49 | 09/05/2017

VCN - Although the total value of an export turnover is higher than in 2016, recently some key export commodities of our country have signs of decrease.

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key exports tend to sharply decrease
Import and export operation at Green Port, Hai Phong. Photo: Thai Binh

Gradual decrease

According to the General Department of Viet Nam Customs, the Vietnam’s export turnover in the first half of April, 2017 reached over $US 7.93 billion, down by 16% compared to the last 15 days of March 2017. However, until April 15, 2017 the export turnover of the country reached nearly $US 52.51 billion, up 13.9% (corresponding to an increase of $US 6.42 billion) over the same period in 2016.

Based on the data of Customs, it can be seen that the export turnover in the first half of April, 2017 sharply decreased due to the decreasing trend in many key export commodities of the country.

Notably, two of the three largest export commodities of our country in recent years are textiles and garments and computers, electrical products and components which sharply declined. Specifically, computers, electrical products and components decreased by 27.8%, equal to $US 319 million (only reaching $US 829.7 million); Textiles and Garments decreased by 20.4%, equal to $ US 255 million ( only reaching $US 879.6 million).

In addition, other large export commodities sharply fell, such as irons and steels down by 62.8%; Wood and wood products down by 23.8%.

In the first half of April, 2017, among Vietnam’s large exports, only telephones, mobile phones and part thereof slightly increased to $US 1,842 billion, an increase of $US 53 million compared to the previous time. However, this increase was not enough to push the total value of the country's total export turnover in the first half of April to increase as the second half of March.

In fact, with the total turnover of $US 9,608 billion (from the beginning of the year to April 15, 2017), telephones, mobile phones and parts thereof still maintain the country's first rank in export turnover but compared to the same period of 2016, this group decreased 2.3% in turnover.

Computers, fruits and vegetable increase

Some key export commodities tended to decrease in the early days of April, 2017 leading to low growth rates (from the beginning of the year to April 15, 2017), such as textile and garments only reached 8% or telephones, mobile phones and parts thereof had negative growth, but the total export turnover of the country increased approximately 14%, proving that our country's export operations are no longer mainly dependent on some commodities.

In the recent time the computers, electrical products and components also contributed to the high growth of export operations. Despite a decline in turnover in early days of April, from the beginning of 2017 to April 15, 2017 this commodity still had a growth rate of up to 43% and increased nearly $US 2 billion over the same period of 2016. And the export turnover of this commodity is becoming near to the second rank. With the current growth rate and the computer trend of increasing popularity in the world, it is likely that this commodity will soon replace the rank of textiles and garments.

Another optimistic sign in the export operation in the first months of 2017 is the high and stable growth of some agricultural commodity groups. Although the price of the pig is being decreased leading the agricultural sector’s leaders and many farmers worried, in the export operations, the large commodities such as wood and wood products, seafood, coffee and especially vegetables and fruits gained solid progress.

Until April 15, 2017, the total export of fruits and vegetables reached $US 857 million, up nearly 30% over the same period in 2016. Thus, the average daily turnover of vegetables and fruits reached nearly $US 8.2 million, equivalent to nearly 190 billion vnd.

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According to Dr. Nguyen Huu Dat the Executive Committee of the Vietnam Vegetables and Fruit Association (VINAFRUIT), the fruit and vegetable exports in recent time have brought very positive results. On the other hand, the demand for fruit and vegetable products in the world continues to increase, being an opportunity for export growth of this product in our country as well as in the coming time.

Not only increasing in turnover, the vegetables and fruits of Vietnam began to find its place in the fastidious markets such as the United States, Japan, South Korea or EU countries ... "Although the export turnover in the markets is not high, the exports to these difficult countries with high-quality requirements will increase prestige for Vietnam vegetables and fruits, "- said by Dr. Dat.

By Thai Binh/Ngoc Loan