Home » The pandemic can’t stop Vietnam’s export turnover growth

The pandemic can’t stop Vietnam’s export turnover growth

by Neoma Simpson

Vietnam’s export turnover increased by 4.7 percent year on year to nearly 83 billion USD in the first four months of 2020 despite an interruption to orders from key importers in Europe, American and Japan due to the COVID-19 pandemic.

Thanks to their quick thinking and adaption to market demand, many businesses have still been receiving regular orders.

Contrary to the shortage of orders for exporters in key sectors, enterprises specializing in producing biodegradable packages and exporting fruit received steady orders from partners in Japan, Europe, the US and Australia in the period.

According to Tran Thanh Hai, Deputy General Director of the Export-Import Department under the Ministry of Industry and Trade, the US remained the largest market for Vietnamese exports in the reviewed period, with a 20.3-billion-USD turnover, surging 13.4 percent.

It was followed by China and Japan with respective turnovers of 13.1 billion USD and 6.7 billion USD, up 26.7 percent and 10.1 percent, respectively.

According to Vietnam News Agency, the country’s exports to American markets also increased, including Chile (93 percent), Colombia (93 percent), Peru (82 percent), Panama (73 percent), Mexico ( 61 percent), and Argentina (55 percent).

However, Hai noted that export prospects will depend greatly on the disease’s developments in its major export markets such as the US, the EU and China.

He predicted that Vietnam’s exports to China and the Republic of Korea would recover faster than other markets because the COVID-19 is under control in the two countries.

The Prime Minister’s recent decision to allow the resumption of rice exports has contributed to promoting the nation’s export growth, he added. – VNA

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