According to businesses, Vietnam's major export markets are increasing their imports of goods at double-digit rates, including 8 markets with turnover increasing by over a billion USD compared to the same period last year. It is forecasted that from now until the end of the year, demand from markets to serve the holidays and Tet will continue to be high, helping our country's trade turnover potentially set a record of 800 billion USD.

Revenue skyrocketed

Talk to PV Money Phong , Mr. Tran Van Linh - Chairman of the Board of Directors of Thuan Phuoc Seafood and Trading Joint Stock Company - said that the company is receiving many orders from major partners. Since the COVID-19 pandemic, this is the period when seafood business Both sales and best-sellers skyrocketed.

“Partners are continuously placing orders at higher prices than every year, but domestic raw materials are currently lacking and cannot meet the demand. The company is planning to work overtime to keep up with production and will soon put the new factory into operation to meet the demand for higher and higher quality orders,” said Mr. Linh.

Mr. Tran Van Hung - Chairman of the Board of Directors of Hung Ca Company Limited - said , In previous years, the company exported about 300 containers per month, this year it exported about 360 containers per month. At present, despite mobilizing workers to work at full capacity, the company cannot produce in time for orders from foreign partners. This is a very encouraging sign for businesses in the industry after a long period of struggle.

According to a representative of the Vietnam Association of Seafood Exporters and Producers (VASEP), the third quarter is an impressive period for the seafood industry with strong recovery from markets. The two major markets, the US and China, both increased their imports of Vietnamese seafood by double digits, especially shrimp and pangasius.

According to VASEP representative, if there are no major fluctuations, it is expected that this year seafood export will reach about 9.5 billion USD, up 7% over last year.

8 export markets increased by over a billion USD

The textile and garment industry is entering its peak season as the number of orders increases. “Orders are expected to benefit from improved consumer demand in the US during the holiday shopping season,” said Le Tien Truong, Chairman of the Vietnam National Textile and Garment Group.

The leader of the Vietnam Textile and Apparel Association said that demand from markets is at a high level, helping garment orders in the fourth quarter of this year and the first quarter of 2025 to continue to be abundant. Enterprises need to make the most of opportunities to promote exports. It is likely that this year the entire industry can reach the export target of 43-44 billion USD.

According to data from the General Department of Customs, as of October 15, Vietnam's goods exports reached 315.9 billion USD, up 15.3%, equivalent to an increase of nearly 41.9 billion USD compared to the same period last year. Of which, some groups of goods increased sharply such as computers, electronic products and components increased by 11.6 billion USD, machinery, equipment, tools and spare parts increased by 7.3 billion USD, textiles and garments increased by 2.6 billion USD, phones of all kinds and components increased by 2.3 billion USD, wood and wood products increased by 2.2 billion USD.

Notably, there were 8 export markets with an increase in turnover of over 1 billion USD compared to the same period last year. Specifically, the US market alone increased by nearly 18 billion USD, the EU market increased by 5.5 billion USD; ASEAN increased by 3.2 billion USD; Hong Kong (China) increased by 2.5 billion USD; China increased by 1.7 billion USD; United Arab Emirates (UAE) increased by 1.3 billion USD; South Korea increased by 1.2 billion USD; Australia increased by 1.1 billion USD.

On the other hand, goods imports from the beginning of the year to October 15 reached 294.6 billion USD, up 17.5%.

According to the assessment, with the current order situation and looking at the acceleration of import and export, this year Vietnam's trade potential will reach 800 billion USD, far exceeding the record of 732 billion USD in 2022.