HCM City sees seven products with export turnover of over US$1 billion

The southern city's Department of Industry outlined that computers, electronics and  components grossed US$15.3 billion, while textiles and garments raked in US$4.4 billion, up 25.0%.

Other machinery, equipment, tools and spare parts fetched a turnover of US$2.7 billion, up 25.4%, while footwear, crude oil, rice, fruit and vegetable exports surged by 48.7%, 17.9%, 7.2%, and 9.4% to reach US$2.5 billion, US$2.3 billion, US$1.2 billion, and US$1.0 billion, respectively.

Statistics revealed that Ho Chi Minh City’s total export turnover through the national border gate last year stood at an estimated US$47.18 billion, up 5.1% against the same period from the previous year.

This increase can be attributed to the industrial production index (IIP) last year rising by 13.9% on-year, of which four key industrial groups are estimated to have soared by 20.4%.

Industry insiders pointed out that the rebound shown in the southern city’s IPP has proved its recovery trend with local businesses exerting great efforts to expand production to compensate for the two-year period affected by the COVID-19 pandemic.

However, fluctuations in gasoline have pushed up production costs and input materials, thereby putting great pressure on production and business activities, especially for enterprises operating in the manufacturing and processing industries.

Meanwhile, total retail sales of goods and services in 2022 edged up by 30.5% to reach VND1.08 trillion compared to 2021, of which retail sales of goods inched up 20.5% to VND625.5 billion.

This year, the southern city is striving to reach IIP of 7.5% compared to 2022, with total retail sales of goods expected to rise by 12% compared to the estimates recorded last year.

The import and export turnover through the city’s border gate, with the exception of crude oil, is anticipated to grow by 10% compared to 2022.