Agricultural exports require business flexibility

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Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department (Ministry of Industry and Trade)

Could you share your assessment of Vietnam's export situation in the first nine months of 2024?

In the past nine months, Vietnam's export turnover has reached about US $300 billion, an increase of about 15% over the same period last year. This is a very positive result, maintained since the beginning of the year. This reflects the recovery of the global market as well as domestic production, and many favorable factors have helped export activities maintain a fairly high growth rate.

Both agricultural and manufacturing groups recorded strong growth. In particular, product groups such as electronic products, components, textiles, footwear - items that faced difficulties in 2023 - have grown by over 10% this year. In addition, agricultural products, especially rice, coffee, fruits, of which durian is experiencing very high growth.

How do you assess the opportunities for the agricultural products industry, especially vegetables and fruits, in the last months of the year?

At this point, we can see that the main export market for Vietnamese vegetables and fruits is China. Since last year, the Chinese market has made great strides in opening up to Vietnamese agricultural products. For example, durian and many other vegetables and fruits have been exported strongly.

Vietnam has a special strength with durian, and when the market was opened, export output increased significantly, meeting the needs of the Chinese market. It is forecasted that from now until the end of the year, this item will maintain good growth momentum. However, it should be noted that agricultural products are difficult to preserve and are highly seasonal. Therefore, fluctuations in the market can significantly impact export activities. Businesses operating in this field need to closely monitor market requirements, as well as fluctuations that may affect the delivery of goods and customs clearance to take timely response measures.

Can you forecast the export situation from now to the end of the year? Which products will continue to grow strongly, and which products need attention?

It is forecasted that in the last months of the year, both agricultural products and processing and manufacturing industries will continue to maintain good growth. With the current growth rate and the recovery of key markets, especially the US and EU, when signs of inflation decrease, purchasing power will increase again. This will help us boost exports in the last months of the year. In addition, the agricultural product group, although promising, needs to be noted for its seasonality and price fluctuations. This requires flexibility in the business and export strategies of enterprises.

Thank you!