Vietnam's first quarter import and export trade performance is bright, foreign trade orders are
- Author:Revin
- Release Date:2022-04-21
It is reported that after the Spring Festival, the Vietnamese corporate factory accelerates complex industrial proceeding, and in mid-March, the import and export trade in March and the first quarter of Vietnam is bright.
According to the data released by the General Administration of Vietnam, Vietnam's total import and export in March is 67.37 billion US dollars, an increase of 38.1% from the previous month. Among them, the export amount is 34.71 billion US dollars, an increase of 48.2% from the previous month, an increase of 14.8% year-on-year. In the first quarter of this year, Vietnam's import and export of Vietnam reached 176.75 billion US dollars, an increase of 14.3% year-on-year. Among them, the export volume is $ 89.1 billion, an increase of 13.4% year-on-year; the import value is 87.64 billion US dollars, an increase of 15.2% year-on-year.
The Vietnamese Industry and Trade Department said that during the three months, the United States is Vietnam's largest buyer, with an income of 25.57 billion US dollars, followed by China, the EU, ASEAN, South Korea and Japan. Vietnamese Industry and Trade Department predicts that with the global economic recovery, Vietnam's Free Trade Agreement (FTA) implementation and supportive policies have been introduced, Vietnam's export will continue to rebound.
Vietnam's first quarter import and export trade performance is bright, foreign trade orders are ranked to the third quarter of this year.
The recently released Vietnam Macro monitoring report in the World Bank shows that due to the strong performance of the export-oriented manufacturing and recovery, Vietnam is consolidated in the first quarter of 2022.
▎ Vietnam manufacturing industry recovery strong
Ho Chi Minh City Clothing, Textiles, Embroidery and Knitting Association said that many textiles and apparel companies have obtained enough orders, which can be produced in the middle of this year or even September. For example, the order of the Thanh Cong Textile Apparel Investment Trading Company is rushed to the end of the third quarter, and the order of GARMENT CORPORATION 10 is ranked at the end of June.
After the active performance of the last few months in 2021, the production and operation of Vietnamese clothing enterprises continued to grow strongly in the first two months of this year. The Chairman of the Vietnamese Textile and Apparel Association said that during two months, Vietnam exported to a textile and apparel product worth nearly $ 8.2 billion, an increase of 59% year-on-year. In the first quarter of this year, the industry is expected to receive an export income of 12.7 billion to 128 million US dollars.
Thanks to the European - Vietnamese Free Trade Agreement and the British-Vietnam Free Trade Agreement, Vietnamese textile and apparel companies will increase the efforts to enter the European market this year. However, Vietnamese local textile and apparel companies are also facing high transportation costs, while the South of the South is facing a shortage of labor.
In addition, due to rapid restoration, Many wood industries in Vietnam have received a large number of orders, enough to keep workers to stay busy throughout the third quarter of this year.
Vietnam's first quarter import and export trade performance is bright, foreign trade orders are ranked to the third quarter of this year.
The Handan City, Handicraft Industry and Timber Industry Association (HAWA), said it benefited from the EU-Vietnam Free Trade Agreement and a comprehensive and progress across the Pacific Partnership Agreement (CPTPP) and other free trade agreements, they can expand the market and improve the competitiveness of the product.
He said that the wooden furniture of the market export covered by CPTPP has increased significantly. As many companies are accelerating production to receive the second quarter order, it is expected to increase further.
The Minh Duong Furniture JSC Business Manager said that in addition to the receipt of the third quarter order, its company will receive more orders in the fourth quarter of this year. However, she said that furniture exporters face many difficulties, especially high logistics costs.
According to Vietnamese "Government Electronic News", in order to accelerate the recovery and development of production and operation, on January 30, the Vietnamese government promulgated the economic and social recovery and development plan. Measures proposed by the program include:
Provide 3 months of housing rent support for the workers; help companies, cooperatives, business households resume production and operation, reduce 2% tax rate (8%) for goods and service business enterprises applicable 10% value-added tax rate within 2022 (8%) or Reduce taxes and fees of turnover, reduce 30% of land and water rents, postpon completion of corporate income tax, personal income tax, value-added tax, special consumption tax and land rent during 2022.
In addition, due to the soaring global fuel prices, the Vietnamese Constitutional Committee decided to reduce the fuel environmental tax on April 1 by the end of March. Therefore, taxes and fees per liter of gasoline have decreased by 2,200 Vietnamese covers, each liter or per kilogram of diesel, heavy fuel, lubricating oil and grease tax and fee decreased by 1100 Vietnam.
According to the data released by the General Administration of Vietnam, Vietnam's total import and export in March is 67.37 billion US dollars, an increase of 38.1% from the previous month. Among them, the export amount is 34.71 billion US dollars, an increase of 48.2% from the previous month, an increase of 14.8% year-on-year. In the first quarter of this year, Vietnam's import and export of Vietnam reached 176.75 billion US dollars, an increase of 14.3% year-on-year. Among them, the export volume is $ 89.1 billion, an increase of 13.4% year-on-year; the import value is 87.64 billion US dollars, an increase of 15.2% year-on-year.
The Vietnamese Industry and Trade Department said that during the three months, the United States is Vietnam's largest buyer, with an income of 25.57 billion US dollars, followed by China, the EU, ASEAN, South Korea and Japan. Vietnamese Industry and Trade Department predicts that with the global economic recovery, Vietnam's Free Trade Agreement (FTA) implementation and supportive policies have been introduced, Vietnam's export will continue to rebound.
Vietnam's first quarter import and export trade performance is bright, foreign trade orders are ranked to the third quarter of this year.
The recently released Vietnam Macro monitoring report in the World Bank shows that due to the strong performance of the export-oriented manufacturing and recovery, Vietnam is consolidated in the first quarter of 2022.
▎ Vietnam manufacturing industry recovery strong
Ho Chi Minh City Clothing, Textiles, Embroidery and Knitting Association said that many textiles and apparel companies have obtained enough orders, which can be produced in the middle of this year or even September. For example, the order of the Thanh Cong Textile Apparel Investment Trading Company is rushed to the end of the third quarter, and the order of GARMENT CORPORATION 10 is ranked at the end of June.
After the active performance of the last few months in 2021, the production and operation of Vietnamese clothing enterprises continued to grow strongly in the first two months of this year. The Chairman of the Vietnamese Textile and Apparel Association said that during two months, Vietnam exported to a textile and apparel product worth nearly $ 8.2 billion, an increase of 59% year-on-year. In the first quarter of this year, the industry is expected to receive an export income of 12.7 billion to 128 million US dollars.
Thanks to the European - Vietnamese Free Trade Agreement and the British-Vietnam Free Trade Agreement, Vietnamese textile and apparel companies will increase the efforts to enter the European market this year. However, Vietnamese local textile and apparel companies are also facing high transportation costs, while the South of the South is facing a shortage of labor.
In addition, due to rapid restoration, Many wood industries in Vietnam have received a large number of orders, enough to keep workers to stay busy throughout the third quarter of this year.
Vietnam's first quarter import and export trade performance is bright, foreign trade orders are ranked to the third quarter of this year.
The Handan City, Handicraft Industry and Timber Industry Association (HAWA), said it benefited from the EU-Vietnam Free Trade Agreement and a comprehensive and progress across the Pacific Partnership Agreement (CPTPP) and other free trade agreements, they can expand the market and improve the competitiveness of the product.
He said that the wooden furniture of the market export covered by CPTPP has increased significantly. As many companies are accelerating production to receive the second quarter order, it is expected to increase further.
The Minh Duong Furniture JSC Business Manager said that in addition to the receipt of the third quarter order, its company will receive more orders in the fourth quarter of this year. However, she said that furniture exporters face many difficulties, especially high logistics costs.
According to Vietnamese "Government Electronic News", in order to accelerate the recovery and development of production and operation, on January 30, the Vietnamese government promulgated the economic and social recovery and development plan. Measures proposed by the program include:
Provide 3 months of housing rent support for the workers; help companies, cooperatives, business households resume production and operation, reduce 2% tax rate (8%) for goods and service business enterprises applicable 10% value-added tax rate within 2022 (8%) or Reduce taxes and fees of turnover, reduce 30% of land and water rents, postpon completion of corporate income tax, personal income tax, value-added tax, special consumption tax and land rent during 2022.
In addition, due to the soaring global fuel prices, the Vietnamese Constitutional Committee decided to reduce the fuel environmental tax on April 1 by the end of March. Therefore, taxes and fees per liter of gasoline have decreased by 2,200 Vietnamese covers, each liter or per kilogram of diesel, heavy fuel, lubricating oil and grease tax and fee decreased by 1100 Vietnam.