Vietnam has recorded a trade surplus of 4.72 billion USD in the first two months of 2024, higher than the figure of 3.5 billion USD reported in the same period last year, according to the General Statistics Office (GSO).

Despite daunting challenges, Vietnam’s exports of wood and wooden furniture have shown signs of recovery since the end of 2023, Director of the Vietnam Chamber of Commerce and Industry (VCCI)’s Ho Chi Minh City Branch Tran Ngoc Liem said on February 26.

Goods consumption in big markets such as the US and the EU is showing brighter signs, creating a driving force for orders for Vietnamese key exports such as garment and textile, packaging, footwear, wood processing, and particularly electronics, with many enterprises have received orders until mid-year.

Delegates at the conference to propose solutions and initiatives to reshape the supply chain to help the industry develop steadily and sustainably.

Vietnamese enterprises should seize the opportunities to increase rice exports to Indonesia which has allocated an additional rice import quota of 1.6 million tonnes for 2024 as dryness linked to the El Nino delayed harvest in the country, according to the Vietnam Trade Office in Indonesia.

Vietnam exported around 12,000 tonnes of tea worth over US$21 million in the first month of 2024, with Pakistan remaining the largest buyer, according to official figures.

Exports to the United States surpasses the US$10 billion mark in January, representing an increase of 64% compared to the same period from last year, according to data given by the General Department of Vietnam Customs.

Promoting deep processing to export cashew nuts is viewed as a way for local businesses to capitalize on free trade agreements (FTAs) and add value to this industry.