Business

HCMC diversifies export markets for enterprises

SGGP
The Department of Industry and Trade of Ho Chi Minh City on June 25 said that it will support city-based enterprises to diversify export markets to increase the export turnover.

Many products of HCMC-based enterprises are supported to improve the quality to access export markets. (Photo: SGGP)

Many products of HCMC-based enterprises are supported to improve the quality to access export markets. (Photo: SGGP)

From the beginning of the year until now, the total export turnover of city-based enterprises through the national border gate was estimated at US$16.96 billion, up 6.3 percent over the same period last year while it increased by 7.2 percent last year. Total export turnover of city-based enterprises through city border gates, excluding crude oil, was estimated at $14.77 billion, up 8.1 percent year-on-year while it increased by 3.4 percent last year.

In particular, agriculture, forestry, and fishery exports were estimated at $2 billion, up 6.8 percent over the same period last year, accounting for 13.7 percent of the total export turnover. As for industrial products, export turnover was estimated at $11.6 billion, up 9.4 percent compared to the same period last year, accounting for 78.6 percent of total export turnover. The group of remaining commodities had an estimated export turnover of $1.1 billion, down 1.5 percent compared to the same period last year, accounting for 7.7 percent of the total export turnover.

The export of enterprises is affected to a certain extent as the Covid-19 pandemic is still complicated. Therefore, to reduce the impacts and risks caused by the disease, the Department of Industry and Trade is trying to support enterprises to diversify export markets. Accordingly, depending on the advantages of each commodity group, enterprises will make the most of Asian, European, US, and African markets.

Since the beginning of this year, the export turnover to the Asian market was estimated at $9.2 billion, up 16.6 percent compared to the same period last year, accounting for 62.3 percent of total export turnover. The European market followed with $2.1 billion, down 11 percent, accounting for 14 percent of total exports.
As for the Americas market, export turnover was estimated at $2.9 billion, down by 0.3 percent, accounting for 20 percent of total export turnover. Also in this market, the US was still the country with the largest import turnover from Vietnam, estimated at $2.5 billion, up by 0.5 percent, accounting for 85.5 percent of the region's export turnover, and 17 percent of the total exports.
In the African market, although it has been exploited in recent years, the export turnover was estimated at $228 million, up 4.9 percent, accounting for 1.5 percent of the total export turnover.

By Ai Van – Translated by Thuy Doan

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