Export expectations continue to rise

However, besides favorable factors, export activities in 2022 still face many challenges.

According to data just announced by the General Department of Customs, the total export and import value of goods nationwide in January reached 60.29 billion USD, of which exports alone reached 30.84 billion USD, up 8.1% over the same period in 2021.

In particular, during the Lunar New Year holidays (from January 29 to February 6), the total export value of goods still reached US$ 1.47 billion, nearly twice as high as during the Lunar New Year year. prior to.

Many positive forecasts

As one of Vietnam's key export products, seafood export turnover in January reached more than 765 million USD, up 25.7% over the same period in 2021.

This is a good start, affirming the forecast of the Import-Export Department (Ministry of Industry and Trade) about seafood export in 2022 will continue to grow well, reaching about 2.1 million tons with a value of 9.2 billion USD. , up 3.9% in volume and 3.5% in value compared to 2021.

In seafood products, shrimp products are still the "trump card" bringing about great value. Deputy General Secretary of the Vietnam Association of Seafood Exporters and Producers (Vasep) Nguyen Hoai Nam said that shrimp exports to the US and EU in 2022 could continue to grow by double digits; exports to China will recover after a sharp drop in 2021; South Korea and Japan are expected to grow only slightly because demand is already quite stable.

Taking advantage of the increasing world consumer demand, the good news is that many textile and garment enterprises have had orders until the end of the third quarter. Chairman of the Board of Directors of Vietnam National Textile and Garment Group (Vinatex) Le Tien Truong shared that the world forecast that the textile and garment industry would improve by 2.7% (an increase of about 20 billion USD).

On this basis, Vietnam's textile and garment industry sets an export target of about 43 billion USD in 2022 (39 billion USD in 2021). Vinatex alone sets an overall growth target of more than 8%, in which the value-added ratio and the rate of return on capital reach from 20% to 25%.

Similarly, the leather and footwear industry also promises many export opportunities. Vice President and General Secretary of the Vietnam Leather, Footwear and Handbag Association (Lefaso) Phan Thi Thanh Xuan said that it is expected that in 2022, the growth of the whole industry will be at 10% to 15% compared to 2021, reaching 10%. between 23 and 25 billion USD.

According to the Ministry of Industry and Trade, a number of agricultural products such as coffee, cashew, rubber, vegetables, pepper, rice and tea also have good growth potential in 2022, bringing a great contribution to the total turnover. export quota. In particular, coffee alone will continue to take advantage of the 0% tax rate under the Vietnam-EU Free Trade Agreement (EVFTA) to increase its market share in the current total demand of 10 billion USD per year. of the EU.

Opportunities mixed with challenges

In order to contribute to achieving the GDP growth rate of the whole country in 2022 at between 6% and 6.5%, the industry and trade industry aims to increase export turnover by 6% to 8% and maintain the trade balance. surplus state.

According to experts, the export market is forecasted to continue to recover as countries gradually control the Covid-19 epidemic, many countries have been implementing economic stimulus packages, stimulating consumer demand, through That increases the demand for imported goods.

Exports to partner markets in free trade agreements (FTAs), especially new-generation FTAs, will also continue to increase as domestic enterprises gradually adapt to the agreement's commitments. The same preferential import tax will continue to be eliminated or reduced.

Vietnam's approach to epidemic prevention and control has changed fundamentally, businesses have also adapted well to the epidemic. Therefore, we have a great opportunity to fulfill our export growth target and even higher.

However, although exports have prospered from the beginning of the year, it is not subjective because of the fact that export activities are still facing many challenges.

According to Minister of Industry and Trade Nguyen Hong Dien, there are unsustainable factors such as the high export scale but low added value; many industries still export raw and semi-processed products and have to import processed products; the proportion of "domestic" enterprises in total exports is still low;...

Besides, the Covid-19 epidemic is still complicated, prolonged and new variants arise; world economic growth is not stable, there are many potential risks; Trade protectionism is increasingly evident, many countries focus on developing domestic production and trade; Trade conflicts are still a global risk;... are factors affecting export activities.

Therefore, the Import-Export Department needs to continue to advise on import and export mechanisms and policies suitable to the situation at home and abroad, not onlyIn the direction of promoting export, it is necessary to associate import and export with the general economic development of the whole country, focusing on sustainable import and export development.

Besides, propagating and guiding businesses to take advantage of opportunities from international commitments; information to businesses about market opportunities, the general direction is to support Vietnamese enterprises to improve their competitiveness, promote their comparative advantages, and be able to integrate with the region and the world.

Units need to monitor to produce according to market signals, products that meet standards and regulations for export to major markets and partner markets in free trade agreements.

Along with continuing to expand and diversify export markets and products, the Ministry of Industry and Trade will also focus on renovating trade promotion activities, promoting distribution of goods through digital platforms and e-commerce. , focusing on building and developing Vietnamese brands.

For enterprises, in order to make good use of opportunities and advantages in export, the Import-Export Department has recommended that enterprises continue to improve their competitiveness and create high-quality products to meet strict standards. of the world market; renovating management, restructuring production activities, linking supply chains, stabilizing input materials, applying science and technology to meet the high requirements of partner markets.