Exports surged in the first month of the year thanks to Samsung launching new products

Vietnam had a trade surplus of $1.3 billion in the first month of 2021. Photo: N.Linh

Agricultural exports increased by more than 22%

According to the latest information from the Ministry of Industry and Trade, the export turnover of goods in January 2021 is estimated at US$27.7 billion, up 0.2% from the previous month. Compared to the same period last year, the export turnover of goods in January 2021 increased by 50.5%, of which the domestic economic sector increased 37.3%, while the foreign invested sector (including crude oil) rose 56.2%.

It is estimated that Vietnam saw a trade surplus of US$1.3 billion, in January 2021. In which, the domestic economic sector saw a trade deficit of US$1.8 billion, and foreign investment sector (including crude oil) saw a trade surplus of US$3.1 billion.

Regarding a remarkable commodity, the export turnover of agriculture, forestry and fishery is estimated to increase sharply by 22.7% over the same period last year, reaching US$2.03 billion, accounting for 7.3% of the total export turnover.

Except for vegetables, coffee and rice whose turnover decreased compared to the same period last year (down 7.63%, 12.6% and 20.2% respectively), other items with turnover increased over the same period last year. Specifically, seafood export is estimated US$600 million, up 19.6%; rubber reached US$321 million, up 142.2% (volume increased 119.7%); cashew nuts reached US$268 million, up 51.7% (volume increased 78.2%).

The Ministry of Industry and Trade stated that China has continuously strengthened measures to tighten quarantine and food safety, traceability and many detailed requirements on packaging facilities and labels making the export of agricultural, forestry and aquatic products to this market face many difficulties.

The Chinese authorities have announced pandemic prevention and inspection of goods transported in conventional containers due to concerns that Covid-19 is easily spread across borders when the temperature drops in winter and spring.

In addition, the Government of Guangxi, China (bordering provinces with four Vietnamese provinces, Quang Ninh, Lang Son, Cao Bang and Ha Giang) has also issued a number of requests to strengthen the management of frozen food import activities.

Facing the above situation, the Ministry of Industry and Trade recommends that enterprises producing and trading in agricultural and aquatic products for export to the Chinese market strengthen the supervision of the quality of goods, avoid violating Chinese regulations on quality standards, quarantine testing, and food safety to contribute to create a more favorable customs clearance process.

"The Ministry of Industry and Trade is working closely with the ministries of Vietnam to exchange with the Chinese side to facilitate import and export activities between the two countries," said the representative of the Ministry of Industry and Trade.

Export turnover of mobile phones ranks first

In addition to the growth of exports of agricultural, forestry and aquatic products, it is notable that in the first month of 2021, the export turnover of processed industrial products was estimated at US$23.96 billion, up to 54.5% over the same period last year, accounting for 86.5% of total export turnover.

In addition to bags, suitcases, hats and umbrellas, export turnover decreased over the same period (down 6.1%), other items maintained positive export growth over the same period.

In which, wood and wood products increased by 48.4%; paper and paper products by 32.5%; textiles and garments by 3.3%; phones and accessories by 114.8%; cameras, camcorders and films up 80.4%; machinery, equipment, tools and other spare parts by 115.3%.

The export turnover of telephones and components continued to be the item with the largest export turnover of Vietnam in January 2021, reaching US$5.8 billion, up sharply 25.9% compared to December 2020.

The export of this item increased strongly due to the launch of a trio of new products Samsung Galaxy S21, Samsung Galaxy S21 Plus and Samsung Galaxy S21 Ultra. These are considered high-end Android phones to open the new year.

In February 2021 and the following months, the Ministry of Industry and Trade determined to focus on directing the production, especially key projects from the beginning of the year to create a source of goods for domestic production and consumption and export.

In addition, the organization exploits and takes advantage of the opportunities from Free Trade Agreements (FTAs) to find solutions to develop markets and remove barriers to enter new markets; focus on monitoring the situation of each market to review and identify types of goods that countries need to import to exploit, promote exports.