HO CHI MINH CITY LEADS THE COUNTRY IN IMPORT AND EXPORT

In the 11 months of 2022, the scale of import and export turnover of Ho Chi Minh City reached 101.58 billion USD, of which exports 43.62 billion USD, imports 57.96 billion USD...

According to data released by the General Department of Customs, with a result of 101.58 billion USD after 11 months of 2022, Ho Chi Minh City is far ahead of other localities in the leading group in terms of import and export turnover. Specifically, after 11 months, the import and export scale of Bac Ninh province reached 78.55 billion USD; Binh Duong ranked third, reaching 54.4 billion USD… In addition, Ho Chi Minh City continued to maintain its leading position in the proportion of import and export turnover of the country.

Mr. Dinh Ngoc Thang, Director of Ho Chi Minh City Customs Department, estimated that by the end of December, the city's total import and export turnover in 2022 will reach about 140 billion USD, up 9.8% compared to 2021, total revenue is about 138,000 billion VND.

However, the trade balance of Ho Chi Minh City has a trade deficit of over 14 billion USD. This reflects the situation of export production in Ho Chi Minh City, which is showing signs of deceleration in the last months of the year due to the impact of inflation in key markets.

Last year, despite being heavily affected by the Covid-19 epidemic at the end of the second quarter of 2021, Ho Chi Minh City still led the country in exports, reaching nearly 45 billion USD, followed by Bac Ninh with 44 billion USD. 8 billion USD, Binh Duong ranked 3rd with 32.7 billion USD.

Currently, Vietnam's export goods have gradually affirmed the quality and brand reputation, especially agricultural-forestry-fishery products, textiles, footwear, phones and accessories, and electronic goods - items that are accounting for a large proportion in the export structure.

The structure of Vietnam's exports has also had a strong shift from raw exports to exports of highly processed products, processed and manufactured industrial products with high added value.

So far, Vietnam has signed 15 bilateral and multilateral free trade agreements with regions and countries around the world. Free trade agreements require businesses to change their thinking and get used to international regulations and laws in trade and investment.

In the context of many economies around the world, along with complicated geopolitical developments in some regions, the amount of remittances flowing to Ho Chi Minh City will continue to grow quite positively and is forecasted to reach about 6.8 billion USD.

This is considered a golden resource not only contributing to improving the living standards of the people in the country, but also an important financial resource for the economic development of the country.

It is known that in recent years, Ho Chi Minh City has always been the leading locality in the country in terms of remittances received. In 2021, the amount of remittances flowing to Ho Chi Minh City will reach about 6.5-6.6 billion USD, up 9% over the previous year, despite the complicated developments of the Covid-19 pandemic. Meanwhile, for the whole country, the amount of remittances reached about 12.5 billion USD.

Related News

UKVFTA PAVES THE WAY FOR VIETNAMESE TUNA EXPORTS TO THE UK

Vietnamese tuna is enjoying many advantages in the UK market thanks to tariff incentives from the UK - Vietnam Free Trade Agreement (UKVFTA).

Port congestion in Asia may last until the end of August this year

International media reports indicate that the container ship congestion at Singapore-one of Asia's busiest ports-has reached its worst level since the pandemic and has now spread to nearby ports like those in Malaysia. This situation poses a risk to the global supply chain and is causing delays in the shipment of goods within the region.

Four Bottlenecks Impeding the Flow of Goods at the Cai Mep – Thi Vai Port Cluster

At the seminar "Customs and Enterprises Accompanying to Promote the Flow of Import and Export Goods through the Cai Mep - Thi Vai Port Cluster" on July 31, experts identified four bottlenecks hindering the movement of goods at the Cai Mep - Thi Vai port cluster. These include infrastructure connectivity, policy mechanisms, human resources, and administrative procedures.

Related News

Glotrans attends a seminar on supporting industries in the supply chain for new technologies.

On August 28, 2024, Glotrans representatives participated in the seminar "The Readiness of Supporting Industries in the Supply Chain for Emerging Technologies" hosted by the Ho Chi Minh City Department of Industry and Trade. This event marks a significant step forward in connecting and developing the supporting industry market in Vietnam.

Glotrans would like to inform our valued Customers and Partners about our National Day holiday 2-9-2024

Glotrans would like to inform our valued Customers and Partners about our National Day holiday schedule as follows: The holiday will start from Saturday, August 31, 2024, to the end of Tuesday, September 3, 2024. We will resume work on Wednesday, September 4, 2024.