NEWS 1
The Netherlands remains Vietnam's largest export market in Europe and the only market to achieve a billion-dollar turnover in January 2024.
According to the latest figures from the General Department of Customs, in January 2024, Vietnam's exports to the Netherlands reached over 1.05 billion USD, up to 54.4% compared to the same period last year (equivalent to an additional turnover of nearly 400 million USD). In January alone, there were four groups of exports to this market reaching over 100 million USD, an increase of one group compared to the same period in 2023.
The new group of goods reaching the hundred-million-dollar scale is footwear, with a turnover of 118.58 million USD, an increase of up to 107.2%. The other three groups of exports are computers, electronic products, and components; machinery, equipment, tools, and spare parts; and mobile phones and components.
With the aforementioned turnover, the Netherlands continues to maintain its position as Vietnam's largest export market in Europe and is also the only country on the "old continent" to achieve a billion-dollar turnover in January 2024. Conversely, Vietnam's imports from the Netherlands in January 2024 reached 48.83 million USD, a slight increase of 2.5% compared to the same period last year.
Thus, in trade relations with partners in Europe, Vietnam achieved a large trade surplus with a trade surplus of over 1 billion USD in the first month of the year.
NEWS 2
“Wood exports have a good signal, but customers are still wary”
Nguyen Liem, Chairman of Binh Duong Provincial Wood Processing Association (BIFA), at the Vietnam Wood and Interior Industry Forum 2024 event held on March 6, estimated that the value of wood exports has decreased by more than 15% in 2023 after a series of continuous growth since 2016. In Binh Duong, the timber export capital of Vietnam which accounts for 45% of the country's total timber exports, timber exports fell by 25% in 2023.
The sharp decline in 2023 is attributed to consumer spending cuts to combat inflation, and wood is not considered an essential commodity. In addition, competition in the marketplace is increasing, with the risk of trade fraud and falsification of product origin.
Although there have been positive signals from timber exports in 2024, with January export sales reaching $1.5 billion, and February around $1 billion, Mr. Liem remains cautious against the backdrop of a volatile world. He predicts that export sales in 2024 may only reach the same level as the previous year.
According to Giovanna Castellina, Director of Research and Reporting for the International Market of the Interior Industry of CSIL, Vietnam needs to diversify its customers to reduce risks and enhance the sustainability of the industry. In addition, businesses also need to improve their design and code to attract more customers around the world.
Picture: Mr. Ngo Sy Hoai - Vice Chairman of VIFOREST, Mr. Nguyen Liem, Chairman of CTCP Lâm Việt, Ms. Giovanna Castellina, representing CSIL, and Mr. Zilahi Imre, Chairman of the International Union of Interior Printing
Writer: Vu Hao
Read more here: “Xuất khẩu gỗ có tín hiệu tốt, nhưng khách hàng vẫn đang dè chừng” | Vietstock