Exports to the United States have grown quite well

Manufacturing at the Tan Seiko Co., Ltd (Bien Hoa City), the enterprise is oriented to expand their export markets to the United States

Continuing to be the largest export market

According to the General Statistics Office of Vietnam, in August 2021, the export turnover of Vietnamese goods reached US$26.2 billion and in the first eight months, it reached US$212.55 billion, increased by 21.2% over the same period last year.

Regarding the export markets, the United States is Vietnam's largest export market with a turnover of US$62.2 billion, increased by 32.5% over the same period last year. Next is China with US$32.7 billion, increased by 19.8%. The European Union (EU) market reached US$26.1 billion, increased by 14.5%. The ASEAN market reached US$18.4 billion, increased by 23.3%. Republic of Korea Market reached US$13.9 billion, increased by 9.9%. Japan reached US$13.5 billion, increased by 8.6%. Thus, the growth of Vietnam's goods exports to the United States reached a very high level and the export value was also doubled nearly compared to the second largest market, which is China.

In Dong Nai Province, the statistics show that, in the first 8 months of 2021, the exports reached nearly US$15.2 billion, increased more than 29.1% over the same period. The United States market alone reached nearly US$4.74 billion, accounting for nearly 31.2% of the total export value. In the same period, imports from the United States into Dong Nai Province were over US$979 million, meaning that the United States market continued to be the province's largest trade surplus market. The goods from Dong Nai Province entering the United States market will have the opportunity to expand to other markets.

As a famous export carpentry and handicraft premises of Dong Nai Province, according to Mr. Nguyen Thanh Nhan, an owner of Thanh Nhan Fine Art Wood Premises (located in Binh Minh Commune, Trang Bom District), for many recent years, the partners in the United States is the premise's largest market. American enterprises have very high requirements for product quality, so the production process must take care and follow the designs and models given by the partners. From selling goods in this market, the premise has continued to expand to other markets.

Similarly, Mr. Luong Minh Liem, Director of the Tan Seiko Co., Ltd. (Bien Hoa City) said that the technical plastic products which are used in the electronic equipments and medical equipments of the enterprise are sold apart from the partners of the foreign invested companies in the country, they are partly being exported to some developed countries. In particular, the United States is a strategic market that the company is looking forward to the coming years.

Difficulties could be found in the last months of the year

Although the exports in general and the exports to the United States in particular have been grown strongly in the 8 months of 2021, in fact, the recent export situation is facing many difficulties due to the impact of the Covid-19 epidemic.

According to the Bureau of Statistics of Dong Nai Province, the high export growth is due to the accumulation of months, especially the first 6 months of the year. Since July, the epidemic has broken out on a large scale, so many enterprises have to stop their production or only partially arrange and restrict the number of employees at the factory to implement the "3 things on the spot" option. As a result, the output of goods as well as the value of exports decreased sharply.

Compared to July, the export of Dong Nai Province in August decreased by 19.7% due to a series of factories having to stop their operations. Most of the products have decreased compared to the previous month, in which the items that decreased significantly were: wood down 18.38% and textiles down 19.83%.

According to the enterprises, the slow operation to fight against the epidemic will cause many dangerous problems because the fulfillment of orders is continuous. When participating in the global supply chain with the strict regulations, the enterprises must ensure their chain progress. In a certain period of 01 - 02 months, the partners can still extend the time for the enterprises to deliver their goods or deploy the contingency plans, but this prolonged situation will cause the risks of the sources of goods to be cut off and the risks of the highly canceled contracts.

                                                                                               Nam Vu