Ho Chi Minh’s export turnover in the first half of this year reached an estimated USD 19.42 billion, down 22.4% year-on-year.
The total invoicing of the imports of the companies of the economic locomotive of the country through the national border posts in the period also decreased by 24.2% compared to the same period of the previous year, up to 25,550 million USD.
Statistics from the municipal Customs Department show that the value of exports of computers, electronic products and components; aquatic products; and coffee through the municipal border gate in the January-June period respectively decreased by 31%, 37% and 30% year-on-year.
The situation was blamed on the strong impact of geopolitical conflicts, high world inflation and the downward trend in consumption around the world.
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According to Dinh Ngoc Thang, Director of the municipal Customs Department, the drop in the value of exports and imports led to a 9.4% decline in budget revenue from import and export activities in the period.
The total invoicing of the imports of the companies of the economic locomotive of the country through the national border posts in the period also decreased by 24.2% compared to the same period of the previous year, up to 25,550 million USD.
Pham Binh An, Deputy Director of the Ho Chi Minh Institute of Development Studies, said that in the context of difficulties facing export activities, municipal authorities should focus on supporting specific sectors, and apply soon solutions to stimulate the demand for internal consumption, such as expanding consumer credit, establishing new commercial spaces such as the fluvial economy and the night economy.
The city must restore the confidence of companies by effectively applying supportive policies on interest, credit and taxes, he stressed.
Article republished from the Vietnamese state media VNA in the framework of an agreement between both parties to share content. Link to the original article:https://en.vietnamplus.vn/hcm-city-s-export-turnover-drops-22-4-in-h1/255868.vnp
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