A new report citing data from the General Department of Vietnam Customs shows that Vietnamese exports have seen an 18 percent on-year growth to reach nearly US$10 billion in the first quarter of 2021.
According to the report, the signing of the EU-Vietnam Free Trade Agreement (EVFTA) plays a large role in the increase of the country’s exports to the EU, and the best performing sectors in the first quarter include textile, clothing, electronics, agricultural and fishery products.
Even products like Vietnamese leather and footwear which suffered a 10 percent on-year decline in the first three quarters of last year began to gain momentum after the EVFTA took effect. In the first month of this year alone, export of leather and footwear to the EU increased 26 percent from a year earlier, the report says.
Some main export commodity groups:
Phones and components: the export of this item in March 2021 was worth 4.59 billion USD, up 24.9% over the previous month.
In the first quarter of 2021, the export of phones of all kinds and components reached 14.37 billion USD, up 11.6% over the same period in 2020. In which, the export of this product group to the Chinese market achieved 3.22 billion USD, a sharp increase of 62.6%; to the US market with a value of USD 2.48 billion, down 7.1%; to the EU (27 countries) reached 2.04 billion USD, down 18.3%… over the same period last year.
Computers, electronic products & components: the export value of computers, electronic products & components in March reached US$ 4.68 billion, up 38.9% over the previous month, bringing the value exports of this commodity group in the first quarter of 2021 reached US$11.95 billion, up 31.2% over the same period in 2020.
In the first quarter of 2021, exports of computers, electronic products and components to the US reached US$2.86 billion, up 46.2% over the same period last year; to the Chinese market reached 2.68 billion USD, up 3.9%; to the EU market (27 countries) reached $1.56 billion, up 38.8%…
Other machinery, equipment, tools and spare parts: In March 2021, the export value of this commodity group reached US$3.5 billion, up 49.3% over the previous month. With this result, in the first quarter of 2021, the export value of electronic equipment and other spare parts reached US$9.1 billion, up 77.2% over the same period in 2020, corresponding to an increase of nearly 4 billion USD. billion dollars in absolute numbers.
Exports of this group of products to the top three markets have all increased very high in the past 3 months. Specifically, exports to the US reached 4.36 billion USD, up 2.8 billion USD (equivalent to 2.7 times increase); to the EU reached 1.4 billion USD, an increase of 560 million USD (equivalent to an increase of 66.4%); to Japan reached USD 615 million, an increase of USD 119 million (equivalent to an increase of 23.9%).
Textile and garment: Textile and garment exports in March reached USD 2.72 billion, up 49.6% compared to the previous month, corresponding to an increase of USD 903 million and was one of the four commodity groups with the highest increase compared to February. Thereby, bringing the export value of this commodity group in the first quarter of 2021 to $7.21 billion, a slight increase of 1.4% over the same period last year.
In the first quarter of 2021, the United States continues to be the largest textile and garment import market from Vietnam with a value of 3.51 billion USD, up 5.9% over the same period last year and accounting for 48.7 % of total export value of textiles and garments of the country; followed by the Japanese market, which consumed 794 million USD, down 13.7%; Korean market consumed 706 million USD, down slightly by 0.5%; EU market (27) consumed 680 million USD, up 3.1%…
Footwear: Export of all kinds of footwear in March reached 1.72 billion USD, up 42% compared to the previous month, equivalent to 508 million USD, bringing the export value of the country’s footwear in the first quarter of 2021. reached 4.79 billion USD, up 14.8% over the same period in 2020.
The United States and the EU continued to be the two main import markets for Vietnam’s footwear of all kinds in the first quarter of 2021 with the value and growth rate of USD 1.92 billion (up 22.4%) and USD 1.92 billion, respectively. 1.09 billion USD (up 18.9%). In general, the value of footwear exported to the two main markets reached more than 3 billion USD, accounting for 62.7% of the total export value of this product group of the country.