HCM City exports fetch 35 billion USD in 2017 - HCM City exports fetch 35 billion USD in 2017 - Website Ho Chi Minh City
HCM City’s export revenue reached an estimated 35.55 billion USD last year, a year-on-year increase of 16.1 percent, according to the city Department of Industry and Trade.
The department said the city’s exports have changed significantly, to put them in line with the city’s export targets as well as with changes in the economic structure.
Specifically, the export of agro-forestry-fishery products has reduced its proportion of the city’s total export turnover. Agro-forestry-fishery exports accounted for 18.4 percent in 2015, then dropped to 16.4 percent in 2016 and 15.4 percent in 2017.
Meanwhile, exports of industrial products have continuously increased and accounted for the highest portion of the city’s exports at 75.3 percent.
Exports of computers, electronic products and accessories were among the products with the highest export revenue, and had stable growth in the past, with exports from firms located at the HCM City Hi-Tech Park accounting for 90 percent of the total export revenue in this group.
Regarding export markets, the department said exports to markets that Vietnam has free trade agreements with such as the EU, ASEAN, China, the Republic of Korea, Japan, Australia and New Zealand have tended to increase significantly.
To raise the efficiency in exports, the department has identified the list of goods that have high export potential and competitiveness.
The department is working with the Institute of Public Policy - University of Economics HCM City and experts of Fulbright University to develop the Export Development Project in the 2017-20 with an orientation to 2030. The project is expected to be sent to the city People’s Committee for approval in the first quarter of this year.