Outstanding commodity export trends in 2023

In 2023, Vietnam sets a target of export growth of 6%, reaching a turnover of 393-394 billion USD, an increase of about 22 billion USD compared to 2022. To achieve this goal, Vietnam needs to maintain and expand the market. export market, meeting the quality and sustainability requirements of trading partners, exploiting free trade agreements and improving the competitiveness of export enterprises. In this article, we will introduce some outstanding commodity export trends in 2023 that businesses need to pay attention to.

1. Trend Take advantage of opportunities from new and potential markets

In addition to maintaining exports to traditional markets such as China, the United States, EU, ASEAN, Japan, Korea..., Vietnam also needs to exploit new and potential markets such as Africa, the Middle East, Latin America, Eastern Europe... According to the Ministry of Industry and Trade, in 2022, import-export turnover between Vietnam and the Asia-Africa region will achieve encouraging results at 500 billion USD, accounting for nearly 68% of total import-export turnover. Vietnam's exports to the world ^{(According to haiquanonline.com.vn)}. Products with export potential to these markets include: rice, coffee, rubber, vegetable oil, phones and components, computers and electronic equipment, garments, shoes...

To take advantage of opportunities from new and potential markets, businesses need to promptly grasp new trade policies and important changes in import and export to have specific plans to promote trade. Businesses also need to coordinate with Vietnamese trade agencies abroad to receive support with market information, find partners and resolve arising problems.

2. Trend of improving quality and sustainability of exported goods

In the context of the COVID-19 pandemic and climate change causing many difficulties and risks to the international goods supply chain, export businesses need to improve the quality and sustainability of goods to meet requirements. increasing demand from trading partners. This requires businesses to comply with the technical, safety, hygiene, environmental and social standards of export markets, and apply solutions to minimize the negative impacts of their activities. production and business activities to the environment and community. In addition, businesses also need to strengthen their ability to respond to market fluctuations, improve flexibility and diversification of the supply chain.

3. Trend of exploiting free trade agreements

Vietnam is currently a member of 16 free trade agreements (FTAs), including important FTAs such as CPTPP, EVFTA, RCEP... These FTAs open up many opportunities for Vietnamese export businesses by reduce tariffs, eliminate non-tariff barriers, and facilitate participation in regional and global value chains. However, to maximize benefits from FTAs, businesses need to carefully grasp the regulations and commitments of each FTA, especially on the origin of goods, rules of origin, and export certification process. Origin and related technical requirements. Businesses also need to strengthen production and business capacity to meet fierce competition from other competitors.

4. Increase the use of technology and digitalization in export activities

Technology and digitalization are indispensable factors in export activities in the current context. Technology and digitalization help businesses save costs, time and human resources, improve supply chain efficiency and transparency, and create better experiences for customers. Some digital technologies and applications that can be used in export activities include: blockchain, internet of things (IoT), artificial intelligence (AI), machine learning (ML), robotics, aerospace pilot (UAV), cross-border e-commerce, electronic payment...

5. Adapt to diesel price changes

Diesel prices are an important factor affecting the cost of transporting goods by sea and road, Vietnam's two main modes of transport. According to forecasts of the World Bank (WB), diesel prices will continue to increase in 2023 due to the recovery of global demand after the COVID-19 pandemic. This will put pressure on the freight costs of Vietnamese export enterprises, especially goods with large weight and low value such as agricultural products, seafood, wood... To adapt to changes To change diesel prices, businesses need solutions such as: finding reputable and reasonably priced transportation service providers, negotiating fuel cost terms in transportation contracts, Optimize packaging and loading processes to minimize weight and volume, apply energy saving measures and reduce emissions in transportation activities, and encourage the use of alternative modes of transportation. Such as railways, inland waterways...

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• Detailed instructions for exporting durian to Japan AZ

Above are some outstanding commodity export trends in 2023 that we want to share with you. Hopefully this article will provide you with useful information and suggestions for your import-export business.

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