Nine export commodities record positive growth in first two months

Specifically, petroleum products recorded the highest export growth at 18.5%, followed by fruit and vegetables at 12.4%, and electric wires and cables at 9.6%.

The items witnessing the export growth of less than 6% include means of transport and spare parts, phones and accessories, toys, sports equipment and parts, chemical products, crude oil, and rice.

With regard to the export value, phones and components took the lead, bringing in US$9.2 billion, an increase of 5.2% against the same period from last year.

Elsewhere, the strongest decline was recorded in the export of fibers and textile yarns of all kinds which endured a drop of 38.4%, while the export value of timber and wood products decreased by 31.8%.

Furthermore, seafood, rubber, iron and steel, chemicals, plastics products, garment and textiles all experienced a downward trajectory of 29.1%, 28.3%, 25.7%, 24%, 20.5%, and 19.6%, respectively.

Experts pointed out that aside from a general decline in industrial production, the total export value of goods throughout the reviewed period also dropped by 10.4% year on year, indicating that the national economy is currently posing some problems that need to be tackled.

Most notably, this decline in exports initially began across multiple fields in the final months of last year, including textiles and garments, leather and footwear, as well as wood products and machinery.

In addition, the risk of economic recession in the United States has made the export situation become even more difficult as the US represents one of Vietnam's largest export markets.

(Source: VOV)