HCM City enjoys impressive growth in import-export turnover | Business

HCM City’s overseas trade rises 18.4 % calendar year on year in Q1 to nearly 17.4 billion USD. (Image: VNA)

HCM Town (VNA) – Irrespective of struggling the detrimental influence of the COVID-19 pandemic and the Russia-Ukraine conflict which has an effect on worldwide trade, import and export functions of Ho Chi Minh metropolis still attained extraordinary progress in the very first quarter of this year.

Stats from the municipal Studies Division confirmed that the city’s overseas trade was valued at virtually 17.4 billion USD involving January and March, up 18.4 per cent 12 months on yr.

The city’s export benefit hit virtually 11.9 billion USD in the time period, an enhance of 3.5 per cent in comparison to the very same time period very last calendar year.

Of the determine, the FDI sector accounted for the greatest proportion of much more than 6.5 billion USD, adopted by the non-State and Point out sectors with much more than 3.2 billion USD and 564.4 million USD, respectively.

In phrases of export framework, the group of industrial products and solutions saw the greatest export benefit, reaching 7.4 billion USD, up 19.1 per cent in excess of the identical time period and making up 75.3 percent of the merged export turnover. They bundled this kind of products as desktops, digital merchandise and factors, textiles and clothes, machinery, and other types of devices.

Notably, the group of agricultural solutions recorded a turnover of around 1.1 billion USD, up 54 percent year on calendar year and accounting for 11.7 % of the city’s total export price though the team of aquatic products had export earnings of 270 million USD, up 70 %.

For the duration of the 3-month period of time, China was the most important customer of HCM city’s enterprises with above 2.5 billion USD in revenue. It was adopted by the United States and Japan with 1.6 billion USD  and 701.8 billion USD, respectively.

In March by itself, export earnings were being estimated at nearly 4.6 billion USD, a yr-on-yr increase of 42.7 percent.

Meanwhile, the city’s import turnover was up 30.6 per cent, hitting approximately 6.8 billion USD./.