Export surplus of HCMC reaches US$ 700 million in Quarter 1 of 2015 - Export surplus of HCMC reaches US$ 700 million in Quarter 1 of 2015 - Website Ho Chi Minh City
In the first three months of 2015, export turnover of HCMC is estimated at US$ 7 billion while import turnover stayed at US$ 6,3 billion. Then, HCMC had a trade surplus of US$ 700 million.
According to a report of HCMC People’s Committee, key export products enjoyed an increase compared to the same period including apparel (8,3%); footwear (12,6%); computer, electronics accessories (73,5%), etc. Main export markets are Japan, USA, China accounting for 41,8% of total export revenue.
HCMC People’s Committee commented that export enterprises of HCMC still faced difficulty in approaching consumption markets, more severe competition with other countries. Currently, many countries are focusing on exports, reducing inventory. The competitive pressure from China, India and ASEAN, etc, has caused a significant reduction of export revenues of key products like rice, coffee, rubber, etc, compared the same period of last year. However, export price of many agricultural products in the first three months tends to increase compare to the same period, this contributes to offset the export reduction or insignificant increase of export volume.
In order to serve business and production activities in 2015, export revenues of many commodities in the first three months of 2015 enjoys a high increase including steel (17,7%) ; computer, electronics products and accessories (35,1%), etc. Import of raw material for production at the moment is more favorable than the same period because price of almost commodities is reduced due to impacts of oil price.