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.

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