Ho Chi Minh City Import and export turnover still grows positively

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3025 3005 10 phan bon - Ho Chi Minh City Import and export turnover still grows positively
Goods imported through Khanh Hoi port in Ho Chi Minh City. Photo: Thu Hoa

Exports decrease

According to statistics of the People’s Committee of Ho Chi Minh City announced on October 29, in the first 10 months of 2021, the total import and export turnover of Ho Chi Minh City increased by 8.4% over the same period last year, of which exports decreased by 2.2% and imports increased by 17.8%.

The non-state sector is considered the main motivation of the city’s import and export growth, with export turnover increasing by 1.6% and imports increasing by 1% over the same period last year.

Estimated exports of goods in October of the city’s enterprises at border gates across the country reached nearly US$3.2 billion, down 4.6%; exports excluding crude oil reached more than US$3 billion, down 3.2% over the same period.

Generally, in the first 10 months of 2021, the export turnover of goods of the city’s enterprises at border gates across the country reached US$35.6 billion, down 2.2% over the same period last year.

The structure of the group of goods exported through the city port in the past 10 months of the city’s enterprises also witnessed many changes. Of which, the group of agricultural products with export value increased in most goods, reaching more than US$3.3 billion, up 13.2% and accounting for 10.7% of total export turnover.

Specifically, rubber is a commodity with high export turnover, with an export output of 218,700 tons, with a value of US$549.7 million, up 61.6% over the same period in 2020.

Next is pepper with export output reaching 110,600 tons, with a value of US$271.6 million, up 60.9%. Rice and coffee exports had a slight increase of less than 10%.

The group of forest products with export value reached US$516.7 million, up 8.6% over the same period and accounting for 1.7%.

The group of seafood products had a sharp decrease in export value, with nearly 35%, reaching only US$632.4 million, down 34.9% over the same period.

The industrial goods group had an export value of US$22,192.6 million, down 11% over the same period. Of which, computers, electronic products and components with export value reached US$13,884.6 million, down 4.9%; textile and garment with export value reaching US$2,505.3 million, down 32.4%; footwear with export value reached US$1,310.8 million, down 27.6%.

Particularly for crude oil, the export volume in 10 months reached 2,653.9 thousand tons with a value of over US$1.3 billion, down 6.8% over the same period.

Production improves

After more than 3 months of implementing social distancing according to Directive 16 of the Prime Minister, with HCM City’s efforts, the situation of industrial production activities in the city in October 2021 has improved significantly.

The industrial production index in October was estimated to increase by 23.6%. The situation of laborers working at enterprises in October increased by 59% compared to the previous month.

In general, in the first 10 months of 2021, the industrial production index in the city still decreased by 16% compared to the same period last year.

Despite reopening for production, the impact of the Covid-19 pandemic was still large, causing all industries to decrease over the same period, such as: other mining down 35.3%; supporting services for mining and ores decreased by 33%; beverage production down 30.1%; production of costumes decreased by 29.4%; textiles down 22.5%; repair, maintenance and installation of machinery and equipment down 22.1%.

The city’s industrial production index in October 2021 has improved due to the control of the Covid-19 pandemic. However, due to the prolonged social distancing period, especially the labor shortage, enterprises faced many difficulties, and the supply chain of raw materials was broken.

Production is still facing many difficulties, so the recovery of imported goods is still slow. It is estimated that in October 2021, the total import turnover of goods of the city’s enterprises at border gates across the country reached nearly US$4 billion, down 0.4% compared to the previous month.

However, in the first 10 months of 2021, the total import turnover of goods by city enterprises at border gates across the country reached over US$48.1 billion, up 17.8% over the same period last year.

Ho Chi Minh City has promoted vaccination for workers in industrial parks and export processing zones. In addition, the government continues to implement welfare packages to support workers who are facing difficulties due to the impact of the Covid-19 pandemic; preferential loans for severely affected small and medium enterprises; implementing tax exemption and reduction, tax extension, and reduction of loan interest rates to help businesses overcome difficulties and restore production and export soon.

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