After the initiation of a trade deal between the United Kingdom and Vietnam, hopes of quick profits for many of the latter’s exporters have been dashed as industries continue to get to grips with implementation.

Sea freight rates continue to escalate as they track petroleum prices, pushing up export costs and thus reducing the competitiveness of Vietnamese goods, according to businesses.

Rising logistic costs are hindering exports, putting firms at risk.

The European Union has a large demand for imported agricultural products and, thanks to the EU-Vietnam Free Trade Agreement (EVFTA), Vietnamese businesses have a unique opportunity to take advantage of this.

Vietnam’s export turnover is forecast to surpass 315 billion USD this year, which, however, requires more drastic measures.

In the last 15 days of August 2021, Vietnam’s exports grew strongly compared to the first 15 days of the month.

Vietnam's exports may reach as high as US$313 billion by the end of 2021, a 10.7 per cent increase year-on-year, only if the country manages to stop the spread of the novel coronavirus, according to a report by the Ministry of Industry and Trade. 

According to Vietnam’s Trade Counselor in Germany Bui Vuong Anh, two-way trade between Vietnam and Germany reached $16 billion in 2019 and $15.2 billion in 2020.

Vietnam's exports of mobile devices and components in the first seven months have increased by 13.5 per cent on-year.

While demand for imported agricultural produce is high in Europe, the ongoing pandemic is causing problems for exporters in Vietnam and throughout Asia, leading to a possible disruption in supply. 

Despite being significantly affected by the Covid-19 pandemic, Vietnam's agricultural, forestry and fishery exports still earned 28.6 billion USD in the past seven months, up 26.7% over the same period last year.

More Vietnamese goods are available on foreign supermarket shelves but enterprises still need to overcome a number of challenges if they want to enhance their brand image.

Vietnam’s import and export activities in May were affected by the fourth Covid-19 wave, but they still increased generally.

Vietnam remains one of the top 10 exporters of textiles and apparel. 

Export revenue in 2020 is estimated to reach $267 billion while imports are to reach $260 billion, resulting in a trade surplus of some $7 billion, according to Deputy Minister of Industry and Trade Do Thang Hai.

The US$300-billion export target set in early 2020 remains challenging, requiring not only strong efforts from local enterprises, but also the recovery of global demand amid complicated Covid-19 situation.

Plenty of local firms have weathered the COVID-19 crisis by selecting niche markets and diversify products to enhance their competitiveness and gain access to the EU market.

Vietnam’s exports this year could grow by 3-4 percent despite the COVID-19 pandemic, according to the Ministry of Industry and Trade (MoIT).

The agricultural production area of the winter crop in northern provinces was expected to increase by 20 per cent to meet the increasing demand from China, said Minister of Agriculture and Rural Development Nguyen Xuan Cuong.