Export activities bustle on first workday after Tet

A lot of 15,000 tonnes of plastic beads leaves Long An international port for Europe on February 15 (Photo: baodautu.vn)

In Long An international port, 15,000 tonnes of plastic beads left the port for Europe on the day. Meanwhile, two containers with about 18 tonnes of coffee branded Meet More each were sent to Australia.

Data from the Ministry of Industry and Trade (MoIT) showed that import-export activities have been bustling since the beginning of 2024, with total revenue hit over 64 billion USD in January, up nearly 38% year on year, including 33,57 billion USD from exports, a rise of 42%.

The majority of export markets are recovering, it said, adding that the US continued to be the biggest market of Vietnam in January with an export revenue of about 9.6 billion USD, up 55.8% year on year.

A strong rise was also seen in other major markets such as China with 57.8%, the EU with 17.9%, ASEAN 38.5%, Japan 39.6%, the Republic of Korea 22.4%, and the EU 18%.

MoIT Minister Nguyen Hong Dien said that in January, the country enjoyed a trade surplus of 2.92 billion USD, while industrial production also grew 18.3%. However, he underlined the need for strong efforts right from the beginning of the year to realise the set target of 6% growth in exports this year.

In the first month of 2024, Vietnam's Purchasing Managers Index (PMI) rebounded to 50.3 points compared to 48.9 points in December 2023. The index reveals that the health of the manufacturing industry improved for the first time in five months.

The European Chamber of Commerce in Vietnam (EuroCham) commented that Vietnam’s economic recovery is on the right track. It advised the country to focus on building stronger trade relations with major export markets and increase export value through processing.

Experts said that the fulcrum for export growth in 2024 is the system of 17 free trade agreements that have been implemented, giving businesses advantages in negotiating orders and opening up markets./.