Input material prices for Vietnamese wood exporters have risen sharply, but most of them are stuck in the mud as there seems no suitable way to increase their selling prices accordingly.
Despite facing multiple difficulties due to the complicated development of COVID-19, container shortages and rising transportation costs, Vietnam's exports in the first quarter still recorded positive results, making an important contribution to the nation’s overall economic growth.
Last week’s Suez Canal situation caused disruption to some of Vietnam’s exports and imports. Tran Thanh Hai, deputy director of the Ministry of Industry and Trade’s Agency of Foreign Trade, explained more to VIR’s Nguyen Thu on how the event has affected Vietnam’s trade and supply chains.
The rapidly increasing import of wooden products and furniture parts from the Chinese market is raising many concerns about origin fraud and trade defense lawsuits.
Overcoming the negative impacts of the Covid-19 outbreak in Hai Duong and Quang Ninh provinces, economic growth in the first quarter of 2021 reached 4.48%. This is a lower level than in the operating scenario but compared to the first quarter of 2020, when the epidemic began to appear in Vietnam, this result is positive.
Impressive figures on export growth to the EU market show that Vietnamese enterprises have initially approached and take advantage of opportunities arising from the EU-Vietnam Free Trade Agreement (EVFTA). However, this agreement is not the "universal key" for Vietnamese goods to be increasingly exported to this high potential but very difficult market. In order to continue to effectively implement EVFTA, Government, ministries, branches and especially the business community still have a lot of work to do.
Vietnam exported US$610 million worth of fruit and vegetables in the first two months of 2021, up 14.6% over the same period last year, providing hope that the sector will record strong growth in 2021.
In recent years, the Government has made decisions and policies to facilitate the development of logistics across the country, creating conditions for logistics enterprises to boldly invest in expansion and modernization.
Since it took effect, the Vietnam-EU Free Trade Agreement (EVFTA) has had a significant impact on boosting Vietnam's exports to the EU. Notably, thanks to the EVFTA, Vietnam's agricultural products are expected to have more "leverage" to penetrate deeper into the market of Northern European countries - where previously they mainly preferred importing goods from European countries.
The latest statistics of the General Department of Customs show that the total import and export value of Vietnam from March 1 to 15 reached US$26.36 billion, increased by22% (equivalent to US$4.76 billion) compared to the second half of February 2021.
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