The trade surplus continued until mid-October, the bright spot of the macro-economy. According to the General Department of Customs, the total value of import and export goods of Vietnam in the first period of October (from October 1-15) reached 24.64 billion USD, down 8.5% (equivalent to a decrease of 2.29). USD billion) compared to the performance in the second half of September 2020.
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| The country had a trade surplus of 17.32 billion USD as of mid-October |
Generally, the total value of import and export of the country by the end of October 15 reached US $ 413.18 billion, up 2.3%, equivalent to an increase of US $ 9.27 billion over the same period in 2019.
In the first period of October, the balance of trade in goods had a surplus of $ 798 million. Thereby, raising the country's trade surplus by the end of October 15 to $ 17.32 billion.
In terms of exports, the total value in the first month reached 12.72 billion USD, down 12.2% (equivalent to a decrease of 1.77 billion USD) compared to the second period of 9/2020.
In general, exports are showing signs of prosperity as businesses make good use of tariff incentives from the EVFTA Agreement. Only in August alone, Vietnam's export turnover to the EU market reached 3.25 billion USD, up 4.65% compared to July and up 4.2% over the same period, bringing the export turnover. from Vietnam to the EU market reached 22.76 billion USD, up nearly 500 million USD compared to the average 7 months of the year (average 7 months was 2.79 billion USD). In September, the export turnover to this market continued to maintain strong momentum, up about 14.4% over the same period.
Many export products of Vietnam have had positive changes in the EU market after more than 2 months EVFTA was implemented. Typically, seafood exports have increased orders of about 10% compared to July; Export turnover to the EU market increased by 1.7% over the same period in 2019, of which shrimp exports in August 2020 increased by 15.7% over the same period (reaching the highest growth rate since the beginning of this year. ).
In addition to seafood, Vietnamese rice exported to Europe also showed positive signs when Vietnam's rice export price to the EU market has increased popularly from 80-200 USD / ton, depending on type compared to the previous time. when EVFTA is in effect. In addition, many other products such as telephones and components, machinery, equipment, spare parts, textiles, footwear, seafood, furniture, and coffee are also expected to increase their needle. export turnover to this market next time.
According to experts, the results obtained are only the first step, in the long run, since the EU is a large market with strict requirements, when Vietnamese enterprises want to participate and access this market, it is imperative that meeting certain standards and criteria that the EU has prescribed. This is a challenge, but it will create sustainable development for businesses in the international trade playground.
The Ministry of Industry and Trade noted that in order to enjoy preferential tariff treatment, Vietnamese enterprises need to meet the rules of origin of the EVFTA Agreement. Tariff preferences and rules of origin are parallel and inseparable. Therefore, in order to promptly support Vietnamese enterprises to take advantage of opportunities right from the first days of implementation of the Agreement, on June 15, 2020, the Minister of Industry and Trade issued Circular No. 11/2020 / TT-BCT rules of origin in the EVFTA Agreement serve as a legal basis to guide the implementation of this content in Vietnam. The Circular took effect from the date of entry into force of the EVFTA Agreement.