Many traditional export markets of Nghe An are facing difficulties.

Data from the Department of Industry and Trade shows that in the first 6 months, besides some items growing compared to the same period in 2022, there are many items with a decrease in turnover compared to the same period in 2022.

That is, textiles decreased by 11.6%, electronic components decreased by 22.3%, steel sheets of all kinds decreased by 19.1%, wood chips decreased by 28.2%, cassava and cassava products decreased by 26.7%; textile fibers of all kinds decreased by 68.5%; pine resin and pine resin groups decreased by 28.6%, tea decreased by 15%, paving stones decreased by 9%, superfine white limestone powder decreased by 19%,...

In the first 6 months of the year, businesses have made efforts to export to 126 countries and territories around the world. Some traditional markets of Nghe An businesses have decreased turnover such as: China decreased by 11.14%, the United States decreased by 1.5%, Taiwan decreased by 38.6%, Switzerland decreased by 10.6%, the Philippines decreased by 21.44%, Bangladesh decreased by 45.8%...

In general, export turnover to most markets and major trading partners decreased. In particular, the US continued to be Vietnam's largest export market with turnover reaching 28.64 billion USD, but compared to the same period last year, it decreased by 21.6%.

The Chinese market ranked second with 15.49 billion USD, down 13% year-on-year.

In addition, goods exports to the EU market reached 14.22 billion USD, down 10.6%; the ASEAN market decreased by 3.6%; and South Korea decreased by 9.6%...

The representative of the Department of Industry and Trade said: Recently, export activities have encountered many difficulties. Some traditional markets of Nghe An enterprises have encountered difficulties such as China, which has just opened, the supply chain has not recovered, and the policy of tightening control on agricultural products and food. Or the US market, due to the economic recession, consumer demand has decreased. For the EU, due to the tight monetary policy, increased inflation, increasingly strict standards and regulations, etc.

Meanwhile, the reopening of the Chinese market has increased competition in Vietnam’s main export markets, as this is also a market with the ability to supply large quantities of goods similar to those of Vietnam.

In addition to the lack of orders, one of the factors that has reduced export turnover in recent times is the decline in commodity prices.

Estimated figures show that export prices of many commodities decreased by double digits in the first 5 months of this year compared to the same period last year, such as: Tea (-11.9%), pepper (-34.9%), cassava of all kinds (-12%), iron and steel (-26.5%), textile fibers (-26.5%),... Only a few items have increased prices such as rice (+5.8%), coffee (+2.4%), coal (+38.5%)...