Exporting goods in Vietnam – Difficulties and advantages
Exports are still maintaining a strong momentum in recent years. The balance of commercialization is still increasing and contributes a huge percentage to the overall growth of the economy. However, our import-export market still has many difficulties and fluctuations worth discussing. Although in 2018 we earned a lot of profit from exports, it was still mainly thanks to the contribution of foreign-invested enterprises. Therefore, the added value created by Vietnamese enterprises is still very low.
Meanwhile, the world market today is equally volatile. The US President imposed tariffs on aluminum steel and Vietnamese catfish products, leading to increased pressure on seafood exports in our country. In addition, the free trade agreement between Vietnam and the European Union has not been ratified yet, and China has raised the requirement for information on the origin of goods for our country's agricultural and forestry products, which is detrimental to the export industry. . Being flexible in the face of market fluctuations is something that businesses participating in the import-export market should learn today to reduce risks for the company.
What products are currently prioritized for export in our country?
Choosing the right export priority products will help businesses avoid many risks
Currently, export items in Vietnam have almost reached the threshold in volume. Therefore, businesses need a new strategy to improve the quality of goods and select "potential export items" prioritized for export by the state to participate in the import-export process. Export turnover in recent years has increased more than the set target. That is, the mechanism of export products has different changes in the right direction of the Government. Key items considered as priority export items include textiles, footwear, machinery and equipment, and at the same time developing more technology groups such as electronic equipment and computers.
Participating in the import-export, potential export market is always a priority for businesses to choose and focus on investing to bring profits to the company. Accompanying the general prosperity of the import-export industry are difficulties that businesses need to overcome. In the context that our country has opened up to goods from ASEAN countries, the domestic market share is no longer owned by domestic enterprises alone. Regardless of the domestic or foreign market, the products of Vietnamese enterprises still have stiff competition with foreign enterprises. This fact shows that Vietnamese enterprises in the coming time will need to make more efforts to expand and find new markets and find products with high value and export potential.
The most potential export items today
Exporting agricultural products is facing many difficulties
Potential export items in 2018 are still mobile phones, components and textiles. In the first quarters of 2018, these 8 commodity groups are achieving export turnover of over 1 billion USD.
Phones and electronic components: This export turnover is almost at the top of the commodity groups and increased by 56.6% over the same period last year.
Textile and garment: This group of textile and garment exports is mainly exported to the US, Japan and China markets.
Computers and components: Export turnover of computers and components increased by 22.7% over the same period last year.
Footwear: Exported mainly to Japan, EU and the United States.
Means of transport, spare parts: Exports of this group of goods increased by 19.2% over the same period last year.
Wood and wood products
Seafood products: Exports to the EU reached a value of about 186 million USD in the first 2 months of the year and exports to the US and Japan also increased significantly.
Cameras, accessories and camcorders. This export turnover reached 769 million USD in the first two months of the year.
Iron and steel of all kinds: Export turnover increased by 39.7% over the same period last year. Mainly exported to Cambodia, Indonesia.
The market import and export in general and export in particular always come with opportunities and challenges. Businesses need to put more effort and effort in finding potential products for their company. Based on the world market and priority export items will help you make the right choice.
