Import and export growth achieved the set target
Notably, the high and continuous growth of exports, the development and expansion of export markets, diversification of export products and import control have been associated with highly effective super restraint.
However, in the 2016-2020 period, the world economy has many difficulties and challenges, affecting export growth. By 2017, the world economy began to recover, but there are still many potential difficulties due to the increasing trend of trade protectionism.
Regarding the domestic situation, from 2016 up to now, Vietnam has ensured political and macroeconomic stability, the economic structure has shifted in a positive direction, deep international integration has had an impact on the strongly improve the business environment, attract investment and develop production.
Specifically, by the end of 2019, export growth in the period 2015 - 2019 reached an average of 12% / year, higher than the target of 10% set by the 12th Congress. In 2020, in the context that the world economy is heavily influenced by Covid-19, exports of countries in the region all decrease compared to previous years, Vietnam's exports still recorded growth. positive. In the first 9 months of the year, the export turnover reached 202.4 billion USD, up 4% over the same period last year.
As for imports, in the same period, the average growth rate of import turnover was lower than the average growth rate of export turnover. Import turnover has an average growth rate in the period 2015 - 2019 at 11.2% / year. The average annual growth rate of import turnover in this period was lower than the average growth rate of export turnover (13%), reaching the strategic target set out.
In general, from 2016 to now, the trade balance has always been in surplus with the trade surplus increasing over the years, respectively $ 1.77 billion (2016), $ 2.11 billion (2017), respectively. $ 6.83 billion (2018), $ 10.87 billion (2019). In particular, in the first 9 months of 2020, the trade surplus reached 16.5 billion USD.
The growth engine of the domestic sector is from industrial goods
The Ministry of Industry and Trade stated that the structure of export goods has shifted in a positive direction. In the first 9 months of 2020, the group of industrial products and processing accounts for 84.8% of the total export turnover, in 2015 this figure only reached 78.9%. Besides, the group of fuels and minerals only accounts for about 1.1% of the country's total export turnover.
In addition, the number of items with an export turnover of $ 1 billion or more has increased over the years. In 2019, there are 31 items with an export turnover of over 1 billion USD. Also in 2019, the per capita export value is about 2,740 USD / person, 2.5 times higher than that in 2011. The target of export value per capita is over 2000 USD according to the set strategy. achieved from 2017.
In addition to the high increase in turnover, the economy has had a trade surplus, in the past few years, the imprint of the domestic business sector in export has been increasingly clear. Specifically, in 2019, the export turnover of the 100% domestic capital sector reached 82.96 billion USD, up 19% compared to 2018, much higher than the 4.2% increase of the FDI sector. Particularly in the first 9 months of 2020, the export of this sector increased by 19.5%, while that of the FDI sector decreased by 2.8%.
In the context of difficulties in exporting agricultural and aquatic products, exports of domestic enterprises still have positive growth, showing that the growth motivation of the domestic sector is not mainly dependent on export growth of agricultural groups. aquatic products as in previous years, but from industrial groups.
Finally, in the coming time, the Ministry of Industry and Trade emphasizes that it will pay more attention and pay attention to connecting FDI enterprises with domestic enterprises, bringing domestic enterprises more and deeper participation in the value chain. for FDI enterprises to create.
