Three key export commodities suffered losses in the first weeks of February

VCN - Exports in the first half of February only reached half of the figure during the last 15 days of January, with textiles, machinery and telephones seeing the largest declines.
Goods are imported and exported mainly through Cat Lai port. Photo: T.H
Goods are imported and exported mainly through Cat Lai port. Photo: T.H

According to the General Department of Customs, in the first period of February, Vietnam saw a 50.5% decrease in export revenue compared to the second half of January, reaching only US$8.75 billion by the 15th of the month.

Particularly, export revenue of textiles and garments went down by 67.3%, roughly US$1.41 billion; machinery, equipment, tools and spare parts plummeted by US$1.1 billion, while phones and components witnessed a 38.3% decline, approximately US$1.01 billion. Additionally, computers and electronic equipment also decreased by 35.2%, roughly US$875 million.

Nevertheless, from the beginning of the year until the first half of February, Vietnam’s total exports managed to reach US$39.58 million, a 2.7% increase compared to the same period during 2021 with textiles and garments going up by 12.7%, seafood products increased by 33.5%, and raw materials witnessed a 30.9% surge. While key commodities such as smartphones, electronic components and footwear products went down by 21.7% and 3.7%, respectively.

Insights from the General Department of Customs showed that export turnover of foreign direct investment enterprises in the first period of February decreased by 47.7% compared to the second half of January 2022. By February 15, export turnover went down by 1.3% to US$28.77 billion, making up 72.7% of Vietnam’s total export turnover.

By Lê Thu/Nhật Minh

Related News

Quang Tri Customs: Efforts to reduce cargo clearance time and costs

Quang Tri Customs: Efforts to reduce cargo clearance time and costs

VCN - Actively implementing solutions to reform administrative procedures, and supporting and accompanying businesses, Quang Tri Customs Department has brought signs of improvement in import-export activities through the area.
Exports of four localities achieve tens of billions of USD

Exports of four localities achieve tens of billions of USD

VCN - By the end of April, there are four localities and cities reaching an export turnover of US$10 billion or more, according to the statistics of General Department of Vietnam Customs.
Five groups of billion-dollar export commodities to China

Five groups of billion-dollar export commodities to China

VCN - By the end of April 2024, there are 4 groups of goods exported to the Chinese market achieve a turnover of US$1 billion or more.
Three groups of export commodities achieved billions of USD

Three groups of export commodities achieved billions of USD

VCN - The result of exports is showing positive signs, especially many groups of commodities increased by over a billion USD compared to the same period in 2023.

Latest News

Five trends in exporting through e-commerce

Five trends in exporting through e-commerce

VCN - On May 22, 2024, Amazon Global Selling announced the prominent cross-border e-commerce (CBEC) trends shaping Vietnam's online export economy. Concurrently, it launched phase two of the program "CBEC: The breakthrough era" in collaboration with the Vietnam e-Commerce and Digital Economy Agency (iDEA) under the Ministry of Industry and Trade.
Vietnamese firms urged to watch global trade policies

Vietnamese firms urged to watch global trade policies

Experts say Vietnamese firms should keep an eye on global trade moves by major economies to figure out how best to promote the consumption and export of products made in Việt Nam, in the context of a glut of cheap Chinese goods flooding the world market.
Vietnam’s tra fish export tipped to bounce back

Vietnam’s tra fish export tipped to bounce back

Vietnamese tra fish export has roared back to growth after a significant drop recorded earlier this year as countries have scaled up their imports, according to insiders.
FDI attraction in five months tops 11 billion USD

FDI attraction in five months tops 11 billion USD

More than 11.07 billion USD in foreign direct investment (FDI) was funneled into Vietnam during January-May, up 2% against the same time last year, according to the Ministry of Industry and Trade (MoIT)’s Foreign Investment Agency.

More News

What to do to develop Vietnam

What to do to develop Vietnam's automobile industry when implementing FTAs?

VCN - On May 24, Customs Magazine organized a discussion on the topic "Vietnam's automobile industry implements the Free Trade Agreement: In which direction to develop?"
The processing and manufacturing industry increased by 6.3% in four months

The processing and manufacturing industry increased by 6.3% in four months

VCN - Continuing the recovery momentum from the end of 2023, industrial production in April and the first four months of 2024 continues to show a positive trend. Of which, the processing and manufacturing industry increased by 6.3%.
Capital city to become an agriculture hub

Capital city to become an agriculture hub

The city’s cash crops were said to not require a large cultivating area but a high standard of production and processing, which have been identified as a solid foundation to penetrate foreign markets.
Renewables – key to green development in Mekong Delta

Renewables – key to green development in Mekong Delta

Renewable energy is seen as a sustainable choice for the Mekong Delta region to respond to environmental challenges, given that the country’s rice and fisheries granary has lost up to 300 million USD to prolonged drought and extreme salt intrusion.
Promoting sustainable growth with a creative economy

Promoting sustainable growth with a creative economy

VCN - Although the creative economy is a fairly new concept, in reality in Vietnam, each year the export of creative goods is helping Vietnam earn billions of dollars.
Businesses have a "headache" because exported goods are smuggled into the market

Businesses have a "headache" because exported goods are smuggled into the market

VCN - The situation of some businesses and factories in Ho Chi Minh City losing exported goods, counterfeiting and imitating brands is causing many consequences for businesses.
Many foreign enterprises find opportunities and expand investment in Vietnam

Many foreign enterprises find opportunities and expand investment in Vietnam

VCN - In the context of the world investment wave shifting, Vietnam has the opportunity to become the world's factory, many foreign enterprises have been looking for investment opportunities as well as expanding investment in Vietnam.
Fruits and seafoods of Vietnam have a huge advantage in the UK market

Fruits and seafoods of Vietnam have a huge advantage in the UK market

VCN - Thanks to UKVFTA (Vietnam - UK Free Trade Agreement), Vietnam's seafood become more competitive in the UK market compared to products from China, Thailand, Malaysia, Indonesia, Philippines, and India. Meanwhile, seafood benefits from less complicated import procedural requirements compared to many other countries.
Businesses call for stricter management of durian industry

Businesses call for stricter management of durian industry

Amid a boom in durian exports, businesses are calling for strict management mechanisms in the industry to help growers develop sustainably.
Read More

Your care

Latest Most read
Five trends in exporting through e-commerce

Five trends in exporting through e-commerce

VCN - "The export potential of Vietnam is enormous. We aim to strengthen cooperation with government agencies to help local businesses seize this global opportunity," said Mr. Gijae Seong, Managing Director of Amazon Global Selling Vietnam.
Vietnamese firms urged to watch global trade policies

Vietnamese firms urged to watch global trade policies

Experts say Vietnamese firms should keep an eye on global trade moves by major economies to figure out how best to promote the consumption and export of products made in Việt Nam, in the context of a glut of cheap Chinese goods flooding the world market.
Vietnam’s tra fish export tipped to bounce back

Vietnam’s tra fish export tipped to bounce back

Vietnamese tra fish export has roared back to growth after a significant drop recorded earlier this year as countries have scaled up their imports, according to insiders.
FDI attraction in five months tops 11 billion USD

FDI attraction in five months tops 11 billion USD

More than 11.07 billion USD in foreign direct investment (FDI) was funneled into Vietnam during January-May, up 2% against the same time last year, according to the Ministry of Industry and Trade (MoIT)’s Foreign Investment Agency.
What to do to develop Vietnam

What to do to develop Vietnam's automobile industry when implementing FTAs?

VCN - On May 24, Customs Magazine organized a discussion on the topic "Vietnam's automobile industry implements the Free Trade Agreement: In which direction to develop?"
Mobile Version