Exports surged in the first month of the year thanks to Samsung launching new products

VCN - Keeping the growth momentum of 2020, the export and import of goods in January 2021 reached a high level compared to the same period last year, due to Samsung boosting the export of mobile phone products with new S21 versions.
2416-4701-img-0831
Vietnam had a trade surplus of $1.3 billion in the first month of 2021. Photo: N.Linh

Agricultural exports increased by more than 22%

According to the latest information from the Ministry of Industry and Trade, the export turnover of goods in January 2021 is estimated at US$27.7 billion, up 0.2% from the previous month. Compared to the same period last year, the export turnover of goods in January 2021 increased by 50.5%, of which the domestic economic sector increased 37.3%, while the foreign invested sector (including crude oil) rose 56.2%.

It is estimated that Vietnam saw a trade surplus of US$1.3 billion, in January 2021. In which, the domestic economic sector saw a trade deficit of US$1.8 billion, and foreign investment sector (including crude oil) saw a trade surplus of US$3.1 billion.

Regarding a remarkable commodity, the export turnover of agriculture, forestry and fishery is estimated to increase sharply by 22.7% over the same period last year, reaching US$2.03 billion, accounting for 7.3% of the total export turnover.

Except for vegetables, coffee and rice whose turnover decreased compared to the same period last year (down 7.63%, 12.6% and 20.2% respectively), other items with turnover increased over the same period last year. Specifically, seafood export is estimated US$600 million, up 19.6%; rubber reached US$321 million, up 142.2% (volume increased 119.7%); cashew nuts reached US$268 million, up 51.7% (volume increased 78.2%).

The Ministry of Industry and Trade stated that China has continuously strengthened measures to tighten quarantine and food safety, traceability and many detailed requirements on packaging facilities and labels making the export of agricultural, forestry and aquatic products to this market face many difficulties.

The Chinese authorities have announced pandemic prevention and inspection of goods transported in conventional containers due to concerns that Covid-19 is easily spread across borders when the temperature drops in winter and spring.

In addition, the Government of Guangxi, China (bordering provinces with four Vietnamese provinces, Quang Ninh, Lang Son, Cao Bang and Ha Giang) has also issued a number of requests to strengthen the management of frozen food import activities.

Facing the above situation, the Ministry of Industry and Trade recommends that enterprises producing and trading in agricultural and aquatic products for export to the Chinese market strengthen the supervision of the quality of goods, avoid violating Chinese regulations on quality standards, quarantine testing, and food safety to contribute to create a more favorable customs clearance process.

"The Ministry of Industry and Trade is working closely with the ministries of Vietnam to exchange with the Chinese side to facilitate import and export activities between the two countries," said the representative of the Ministry of Industry and Trade.

Export turnover of mobile phones ranks first

In addition to the growth of exports of agricultural, forestry and aquatic products, it is notable that in the first month of 2021, the export turnover of processed industrial products was estimated at US$23.96 billion, up to 54.5% over the same period last year, accounting for 86.5% of total export turnover.

In addition to bags, suitcases, hats and umbrellas, export turnover decreased over the same period (down 6.1%), other items maintained positive export growth over the same period.

In which, wood and wood products increased by 48.4%; paper and paper products by 32.5%; textiles and garments by 3.3%; phones and accessories by 114.8%; cameras, camcorders and films up 80.4%; machinery, equipment, tools and other spare parts by 115.3%.

The export turnover of telephones and components continued to be the item with the largest export turnover of Vietnam in January 2021, reaching US$5.8 billion, up sharply 25.9% compared to December 2020.

The export of this item increased strongly due to the launch of a trio of new products Samsung Galaxy S21, Samsung Galaxy S21 Plus and Samsung Galaxy S21 Ultra. These are considered high-end Android phones to open the new year.

In February 2021 and the following months, the Ministry of Industry and Trade determined to focus on directing the production, especially key projects from the beginning of the year to create a source of goods for domestic production and consumption and export.

In addition, the organization exploits and takes advantage of the opportunities from Free Trade Agreements (FTAs) to find solutions to develop markets and remove barriers to enter new markets; focus on monitoring the situation of each market to review and identify types of goods that countries need to import to exploit, promote exports.

By Thanh Nguyen/Quynh Lan

Related News

Textile and garment exports recovered positively

Textile and garment exports recovered positively

VCN - Vu Duc Giang, Chairman of Vietnam Textile & Apparel Association shared with Customs News about the production and export situation of Vietnam's textile and garment industry after many difficult periods.
Leverage to increase the scale of Vietnam - Laos trade turnover

Leverage to increase the scale of Vietnam - Laos trade turnover

VCN - From 2012 until now, trade turnover between the two countries has grown by 10-15%/year, but it has only reached US$1.65 billion which is not commensurate with the potential and special relationship between the two countries.
Export-import quarter 1: The recovery trend is becoming clearer.

Export-import quarter 1: The recovery trend is becoming clearer.

VCN - The total export-import turnover of goods in the first quarter of the year is estimated to reach over $178 billion, an increase of 15.5% compared to the same period last year. Both exports and imports have achieved high growth rates, clearly reflecting the recovery trend.
Businesses capitalize on recovery momentum to explore market expansion

Businesses capitalize on recovery momentum to explore market expansion

VCN - Since the start of the year, Vietnam’s exports have welcomed positive signals as orders from several key sectors have noticeably rebounded. Enterprises are capitalizing on the market recovery to bolster their export drive.

Latest News

Domestic retailers eye export-quality products

Domestic retailers eye export-quality products

Domestic retailers are increasing the distribution of export-quality products to cash in on the consumption trend towards green, environmentally friendly and safe products.
Launch of FDI Annual Report 2023

Launch of FDI Annual Report 2023

VCN - In 2023, industrial parks and economic zones kept attracting foreign investors with 27.7 billion USD of FDI capital investment; the number of new investment projects, adjusted investment capital and implemented FDI capital all increased compared to the previous year.
Vietnam has opportunities to attract, develop the offshoring market

Vietnam has opportunities to attract, develop the offshoring market

Vietnam is an attractive choice for businesses who are looking for outsource solutions, given its affordable workforce, highly skilled human resources and the constantly developing infrastructure of information technology and the telecommunications industry, said real estate consultancy firm Knight Frank in its report Asia-Pacific Horizon: Harnessing the Potential of Offshoring.
Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors

Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors

More than 15 trillion VND (597 million USD) has been disbursed under a credit scheme to support Vietnamese agroforestry and aquatic sectors since July last year, heard participants at a recent conference to discuss measures on maintaining Vietnam's key agricultural exports.

More News

Be proactive and flexible with production materials

Be proactive and flexible with production materials

VCN - Enterprises' production and export orders have gradually returned, leading to many recovery prospects. Therefore, the issue of raw materials for production continues to be a major concern to meet rules of origin requirements.
Cooperate to build leading and "rich in vitality" state-owned enterprises

Cooperate to build leading and "rich in vitality" state-owned enterprises

VCN - In Vietnam, the contribution ratio of state-owned enterprises (SOEs) to GDP is approximately 30% but their competitiveness is not commensurate with the resources they hold, and many SOEs operate ineffectively.
Garment & textile sector tries to keep growth momentum

Garment & textile sector tries to keep growth momentum

The Vietnamese garment and textile sector is carrying out various measures to bolster production and business activities amidst formidable challenges posed by falling demand, high inventory, and geopolitical instability in several countries, according to insiders.
China, US, Japan – largest importers of Vietnam’s fishery products in Q1

China, US, Japan – largest importers of Vietnam’s fishery products in Q1

China, the US and Japan were the three largest importers of Vietnam’s fishery products in the first quarter of this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam’s agricultural products appeal to foreign customers

Vietnam’s agricultural products appeal to foreign customers

Vietnam's agricultural products were sold well in foreign markets in Q1, with a surge in both volume and prices documented.
Science and technology enterprises still have limited to access to preferences

Science and technology enterprises still have limited to access to preferences

VCN - Enterprises in the field of science and technology (ST) have made many positive contributions to economic development. However, preferential access to these enterprises is still difficult.
Made-in-Vietnam wind turbine towers bound for RoK

Made-in-Vietnam wind turbine towers bound for RoK

Ten domestically-manufactured offshore wind turbine towers are set to depart from Phu My Industrial Zone in the southern province of Ba Ria-Vung Tau by the end of April 2024, bound for Jeonnam 1 wind power project off the coast of the Republic of Korea (RoK)'s Jeonnam province.
Cashew nut exports is estimated at US$ 782 million in the first quarter

Cashew nut exports is estimated at US$ 782 million in the first quarter

VCN – Vietnam’s cashew nut exports in March reached 55 thousand tons, surging in volume and value compared to the previous month.
Maintain the reputation of Vietnamese coffee amidst soaring prices

Maintain the reputation of Vietnamese coffee amidst soaring prices

VCN - Nguyen Nam Hai (photo), Chairman of the Vietnam Coffee-Cocoa Association (Vicofa), shared about the landscape of the Vietnamese coffee industry in the context of continuously increasing prices.
Read More

Your care

Latest Most read
Domestic retailers eye export-quality products

Domestic retailers eye export-quality products

Domestic retailers are increasing the distribution of export-quality products to cash in on the consumption trend towards green, environmentally friendly and safe products.
Textile and garment exports recovered positively

Textile and garment exports recovered positively

Vu Duc Giang, Chairman of Vietnam Textile & Apparel Association shared with Customs News about the production and export situation of Vietnam's textile and garment industry
Launch of FDI Annual Report 2023

Launch of FDI Annual Report 2023

In 2023, industrial parks and economic zones kept attracting foreign investors with 27.7 billion USD of FDI capital investment
Vietnam has opportunities to attract, develop the offshoring market

Vietnam has opportunities to attract, develop the offshoring market

Vietnam is an attractive choice for businesses who are looking for outsource solutions, given its affordable workforce, highly skilled human resources and the constantly developing infrastructure of information technology and the telecommunications industry, said real estate consultancy firm Knight Frank in its report Asia-Pacific Horizon: Harnessing the Potential of Offshoring.
Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors

Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors

More than 15 trillion VND (597 million USD) has been disbursed under a credit scheme to support Vietnamese agroforestry and aquatic sectors since July last year, heard participants at a recent conference to discuss measures on maintaining Vietnam's key agricultural exports.
Mobile Version