According to Nguyen Minh Toai, director of the city’s Department of Industry and Trade, exports in the period are expected to thrive thanks to large orders from foreign nations, noting that the city will earn US$1.65 billion from goods exports and foreign currency earning services by the end of this year, a year-on-year surge of 9.8%.
Revenue from exports and services in the six-month period ending in June was US$723.3 million, or 43.8% of the yearly plan, leaving the main workload to fulfill the target to be done in the second half, Toai said. Rice exports to foreign markets in the period tapered off 8.2% from the same time last year. Only 355,000 tonnes of rice worth US$149.8 million were sold abroad, accounting for 26.5% of total export revenue and 41.3% of yearly target.
The fall was stemmed from low productivity, the high cost of raw materials and flat export prices. Export quantity was still low although export businesses tried to expand their consumer markets.
Meanwhile, aquaculture exports remained stable with stellar growth in both output and export revenue. The city raked in US$274.2 million from exporting 70,300 tonnes of seafood, making up 53.7% of the yearly plan.
Shrimp and tra fish exports to some European markets like Belgium, France, Russia, the Netherlands and the UK made significant recovery. Australia is billed as a potential market for the city’s aquaculture consumption.
In addition, slight growth was also seen in the export of garments, agriculture and processed farm produce as well as pharmaceutical products.