HCM City’s 2020 economic growth at 1.39%

At a press conference on December 29, Vice Chairwoman of the municipal People’s Committee Phan Thi Thang highlighted the prominent achievements in socio-economic development during the year despite the difficulties from COVID-19, especially in administrative reform and improving the investment and business environment.

According to the municipal Statistics Department, local enterprises earned US$40.2 billion from exports (including crude oil) during the year, representing 1.3% higher than in the same period last year.

HCM City has five commodity groups with export value exceeding US$1 billion each, which also account for 83.5% of its total export turnover.

The group of computers, electronic products and components took the lead, raking in US$17.8 billion. It was followed by textiles (US$4.3 billion), footwear (US$2.2 billion), and machinery, equipment, tools and spare parts (US$2.2 billion).

China, the US, and Japan remained the largest importers of goods from HCM City. Exports to China alone reached US$10.5 billion, making up 26.2% of the total and up 23.7% year-on-year.

Enterprises in HCM City spent over US$43.3 billion on imports, down 1.6% compared to 2019.

According to the General Director of the municipal Statistics Department Huynh Van Hung, total retail sales of consumer goods and services in the city during 2020 reached VND1.2 quadrillion, down 1.3% year-on-year.

HCM City welcomed 1.3 million international visitors and 15 million domestic tourists in the year, down 84.8% and 54.2% respectively compared to 2019.