Export challenges in the last 3 months of the year

Regarding the entire import-export sector, the Ministry of Industry and Trade forecasts that, based on the data of the first 8 months, this year's import-export turnover is likely to reach 800 billion USD - the highest in history. However, the challenge is not small when the world market has many fluctuations and Vietnam's main export market is still heavily dependent on the United States.

The wood industry is one of seven export sectors of Vietnam with over ten billion USD. In the first 8 months of this year, the total export turnover of the industry reached 11.2 billion USD, and is expected to reach 18 billion USD for the whole year. However, the US accounts for more than 50% of the turnover, and the imposition of a 20% reciprocal tax by the US has directly affected the profits of Vietnamese enterprises.

Along with wood, electronics - computers - components are the leading group in the list of tens of billions of USD with 66.9 billion USD in 8 months, up 43% over the same period. The market is spread from the US to Japan and Europe. However, to export sustainably, increasing the localization rate is a big challenge for businesses.

However, businesses also said they have many orders for the last quarter of the year. They have also prepared raw materials to stabilize prices.

According to the calculations of the Ministry of Industry and Trade , to achieve the export growth target of 12%, the last 4 months of the year need to reach at least 150 billion USD, or an average of over 37.5 billion USD/month. This is a very heavy task, requiring high determination and synchronous, drastic and effective participation of the entire political system and businesses...

Mr. Nguyen Anh Son - Director of the Import-Export Department, Ministry of Industry and Trade said: "Regarding import-export procedures, we have decentralized them to localities. The Ministry of Industry and Trade supports localities in decentralizing C/O to help businesses export quickly."

The Ministry of Industry and Trade requires that in the last months of the year, every month at least one B2B trade connection event be organized in person or online to promote exports. At the same time, there must be separate solutions for each market. For the low-growth market group, exports must reach at least 8.5%; the average group must maintain and increase to 12%; and the high-growth group must continue to play the role of "locomotive", striving to exceed 15% to pull up the entire turnover.

Source: https://vtv.vn/thach-thuc-xuat-khau-3-thang-cuoi-nam-100251003112554917.htm