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| Deputy Minister of Industry and Trade Phan Thi Thang at a teleconference held in Hanoi on December 20 (Photo: baodautu.vn) |
According to a report from the Ministry of Industry and Trade, despite formidable challenges in trade activities posed by poor economic growth and weak demand in large export markets such as the US, the EU, Japan and ASEAN, Vietnam capitalised on the recovery of its major and traditional markets to promote export.
The country shipped 354.5 billion USD worth of products in the year, down 4.6% year-on-year, which, Thang said, marked an easing from the 12% in the first half.
She added that 33 items recorded export turnover of 1 billion USD in 11 months, of which seven posted a value of more than 10 billion USD, accounting for 66% of the total revenue.
Farm produce was among key exports, she said, adding processed industrial products accounted for 85% of the export turnover.
General Director of the ministry’s Agency for Foreign Trade Tran Duy Dong said export showed signs of recovery in the end of 2023, and relished the prospect of better export situation in 2024 on the back of current free trade agreements (FTAs), and conclusion of negotiations and implementation of the trade deals with new markets such as Israel and the United Arab Emirates.
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| Vietnam records a trade surplus of 26 billion USD in 2023, nearly tripling the figure last year and the highest on record. (Photo: VNA) |
He stressed that the sound political relations with such trade partners as China, the EU and the US will create a premise for Vietnam to expand its economic, trade and investment cooperation.
Given those advantages, the ministry will strive to increase the export revenue growth by 6%, and trade surplus to some 15 billion USD in 2024, he said, underscoring the ministry will work to diversify export markets and supply chains, support enterprises to capitalise on the existing FTAs, especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTTP), the EU-Vietnam FTA and the UK-Vietnam FTA, to bolster shipments.
Additionally, it will coordinate with the Ministry of Agriculture and Rural Development to negotiate with China for official export of more agricultural products from Vietnam, and speed up customs clearance at Vietnam-China border gates, Dong added.
Domestic gold prices hit new record high
Domestic gold prices kept skyrocketing on December 20 morning to pass the historic high, reaching 75.4 million VND (nearly 3,100 USD) per tael (1.2 ounces), according to the Vietnam News Agency.
At 9:13 am in Hanoi, Doji Group listed each tael of SJC gold at 74.4 – 75.4 million VND (buying – selling), adding 550,000 VND for buying and 500,000 VND for the selling side from a day before.
Meanwhile, Phu Quy Group rated the precious metal at the same prices to Doji Group’s, up 550,000 VND for both buying and selling compared to the previous day.
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| Photo for illustration (Photo: VNA) |
The prices of gold also went up in the global market when the USD weakens and investors are waiting for the announcement of a series of new economic data later this week.
The upward trend in gold prices occurs as the US dollar index decreases by 0.4%, and the yield on 10-year US government bonds is near its lowest level since July 2022.
Bart Melek, Global Head of Commodity Strategy at TD Securities, has said that investors have been strongly buying gold in anticipation of the Federal Reserve (FED)’s cutting interest rates before inflation reaches its target.
Capital city attracts 24 million tourists in 2023
The capital of Hanoi enjoyed an incredible surge in the number of tourists in 2023, with 24 million visitors coming to the city, said the Vietnam News Agency.
This figure represents a remarkable 27% increase compared to the previous year and a heartening 83% of the pre-pandemic levels recorded in 2019. This boosts not only breathed new life into the local economy but also showcases Hanoi's enduring charm as a travel destination.
One of the standout achievements of Hanoi’s tourism in 2023 is the surge in international visitors, totalling 4 million. This marks an impressive 138.1% increase compared to the prior year and a significant rebound, reaching 57% of the pre-pandemic levels in 2019. The influx of international tourists reflects Hanoi's resilience and its capacity to draw global travellers, even amid global uncertainties.
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| Visitors to the Hanoi Tourism Gift Festival 2023 in early November (Photo: VOV) |
The city welcomed 20 million domestic visitors in 2023, reflecting a 16% increase from the previous year and an impressive 91% recovery compared to the pre-pandemic levels of 2019. This surge in domestic tourism highlights the growing interest of locals in exploring the cultural and historical treasures within their own country.
The surge in tourist numbers brought with it a significant economic boost for Hanoi. Total revenue from tourists in 2023 is estimated at nearly VND87.7 trillion (US$3.65 billion), marking a substantial 45.5% increase compared to 2022. This remarkable economic recovery also translates to 84.4% of the tourism revenue recorded in 2019, emphasising the resilience and adaptability of Hanoi's tourism sector in the face of adversity.
The impressive growth in both international and domestic tourism, coupled with the significant economic impact, underscores Hanoi's position as a thriving cultural and economic hub.
Vietnamese airlines to transport over 80 million passengers next year
The aviation sector is anticipated to enjoy robust growth in passenger transport volume next year, reaching 80.3 million and representing an increase of 7.1% compared to figures from this year, according to information given by the Civil Aviation Authority of Vietnam (CAAV), said Radio the Voice of Vietnam.
Of the figure, 38.3 million are domestic passengers and 41.7 million are international passengers, marking a fall of 10.5% and a rise of 30.6% compared to this year.
Statistics compiled by CAAV reveal that the total transport volume is estimated at approximately 74 million passengers this year, representing an increase of 34.5% compared to 2022, but a decrease of 7.4% compared to 2019.
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| Vietnamese airlines to transport over 80 million passengers next year (Photo: VOV) |
Accordingly, international passengers reached 32 million, witnessing a 1.7-fold rise compared to 2022 and equivalent to 77% compared to 2019 while domestic visitors hit a total of 42 million, down 3% compared to 2022 and up 12% compared to 2019.
Total passenger volume through airports this year was estimated at 113.9 million, up 15.5% against the same period from last year. Of the figure, international passenger volume surged by 170.6% to reach 32.7 million while domestic arrivals fell by 6.1% to 81.2 million on-year.
Ho Minh Tan, deputy director of the CAVV, assessed that the international flight network has recovered and has gradually expanded.
Furthermore, Vietnamese and foreign airlines have completely restored air routes to traditional markets and expanded to a number of new markets in Central Asia, such as Kazakhstan, Uzbekistan, Turkmenistan, and Mongolia.
Most notably, several air routes to markets such as China and Russia have also been resumed despite their limited number, Tan noted.
Moreover, Vietnamese airlines has moved to accelerate the opening of routes to the Indian and Australian markets.
Currently, some 63 foreign airlines and five Vietnamese carriers are exploiting the international market with 169 regular and charter routes linking 28 countries and territories in North America, Europe, China, East Asia, and Africa to popular Vietnamese destinations such as Hanoi, Da Nang, Ho Chi Minh City, Cam Ranh, Phu Quoc, and Da Lat.
The domestic flight network has been maintained and developed with 66 routes linking Hanoi, Ho Chi Minh City, and Da Nang to nine other local airports with more than 600 flights per day.
Apart from existing routes, local carriers will also operate a number of new routes such as Can Tho-Van Don, Hanoi-Ca Mau, and Ho Chi Minh City-Dien Bien this year./.