Ho Chi Minh City posts 5% growth in exports

Ho Chi Minh City exports were up 5.1% and imports saw a surge of 26% in the first half of this year as compared to the same period in 2020, resulting in a trade surplus of US$4.53 billion, according to the municipal Statistic Office.

Due to the impact of the fourth wave of COVID-19, export turnover of many businesses in Ho Chi Minh City at border gates across the country in June fell 29.7% against May, registering US$2.73 billion. Exports, excluding crude oil, reached US$2.65 billion, down 28.3% over the previous month.

In the first six months of 2021, the export revenue hit US$21.9 billion, up 5.1% year-on-year.

The city had five groups of goods with an export value of over US$1 billion, accounting for 75% of the total export turnover. The export value of computers, electronic products and components was US$7.7 billion, a decrease of 7.1%.

China remained the southern city’s biggest buyer, with a turnover of nearly US$4.6 billion, accounting for 22.6% of the total and down 11.4% over the same period in 2020.  It was followed by the US, with US$3.25 billion, making up 16% and up 0.3% year-on-year.

The FDI sector remained the main driving force in the city's import and export growth in the first half of 2021, with export turnover rising by 6.2% and imports increasing by 12.2% over the same period last year.