Export goods becomes economic bright spot

In the first eight months of this year, although facing the complicated situation of the COVID-19 pandemic, the provincial exporting goods activities still achieved positive results. It makes export goods become the bright spot in the general economic picture. 

Regarding the detailed result, commodity export turnover of the first eight months reached USD18.66 billion, rising 5.77 percent compared to the same period. The fact shows that although the COVID-19 pandemic is still complicated, with the significant policies of the Government and the province and the initiative and creativity of enterprises, the commodity export sector still achieved many positive results.

The item groups accounted for the most significant proportion in these results: smartphones, tablets, and other electronic products with a total value of USD17.63 billion, rising 5.4 percent over the same period last year. Smartphones alone reached 68.39 million units. Along with that, the eight-month period also witnessed a rise in the group of products from iron and steel, reaching 21 million tons, rising 23.2%. The garments, tea, and wood group also showed significant growth compared to the same period last year. 

Dongwha Wood Factory, located at Song Cong 2 Industrial Zone, puts into operation, contributing to promoting the wood and wood products industry, and the province's export turnover. 

The factory at Song Cong 2 Industrial Zone that has officially operated invested some USD500 million to promote the wood and wood products industry in Thai Nguyen and other provinces in the Northern Mountainous Area. On the other hand, the factory also contributes to the province's export turnover, Mr. Hur Jee Young, Director of Dongwha Wood Factory, said. 

Mr. Phan Duc Cuong, Head of the Provincial Management Board of Industrial Zones, informed that investors would put some big enterprises into operation in the three and four quarters of 2021. So, he emphasized that export activities in the remaining months of the year will be more vibrant.  

Although the export result has a bight spot, the total export turnover of commodity groups in the past eight months is not too high. In particular, product groups have been the province's advantages for many years, such as non-ferrous metals and non-ferrous metal concentrates. Still, the product group's provincial export value, which has an advantage as non-ferrous metals and non-ferrous metal concentrates in 8 months, reached only USD159 million, decreasing 1.9% over the same period last year. Thus, we can see that the export results depend heavily on foreign-invested enterprises, with the group of electronic components.

However, looking at the trade balance, the import value of the group of electronic materials and components in 8 months of the province also reached USD10.67 billion. It means the positive value contributed to the economic structure of this group is not very high. It poses the need to continue localizing sources of raw materials, materials, and products to increase export value.

The forecast of increased demand for goods and the fact implementation of COVID-19 vaccination to re-open the economy will be opportunities to export textile, furniture, and electrical products. Moreover, our country and some economies continue to deploy stimulus packages to directly support people and businesses for promoting the consumption of goods. In addition, free trade agreements are gradually being implemented comprehensively and more effectively, which will continue to encourage the export industries of Vietnam, in general, and Thai Nguyen province, in particular, to have a breakthrough, creating momentum for strong economic growth in the coming time.

Our enterprises have many opportunities to find out the new partners and orders regarding the main export products because countries may increase to import goods to meet consumer demand after controlling the pandemic. 

The commodity-exporting difficulties are the impact of the COVID-19 pandemic, lack of shipping containers, and high transportation costs. Mr. Nguyen Van Huy, Deputy Director of Thai Nguyen Customs Branch said, these factors have adversely affected export activities. 

Thai Nguyen controlled the COVID-19 pandemic well; its enterprises maintain stable production, especially those manufacturing smartphones, tablets, and electronic components. So, export activities, although affected, still achieved a rise. 

The functional agencies gave positive evaluation for the achieved results in the past eight months. In the last months of the year, the increase or decrease in commodity export will significantly depend on the COVID-19 pandemic prevention and control of the province and the whole country and countries worldwide. Besides, the speed of vaccination against COVID-19 will greatly impact the production and trade of goods on the global market.