Hanoi’s exports surge 16.9 percent in first quarter
Hanoi’s export turnover hit 3.15 billion USD in the first quarter of 2018, representing a year-on-year increase of 16.9 percent, according to the municipal Department of Industry and Trade.
Hanoi(VNA) - Hanoi’s export turnover hit 3.15 billion USD in the first quarter of2018, representing a year-on-year increase of 16.9 percent, according to themunicipal Department of Industry and Trade.
In the reviewed period, allkey staples achieved strong growth in export value.
Computercomponents and peripheral devices were the biggest contributor to the city’sexport earnings, with 463 million USD, up 23.2 percent compared to the sameperiod last year.
They were followed by textiles and garments, raking in 401 million USD, up 20percent year on year.
Transport vehicles and components, andfootwear respectively reached 235 million USD and 72 million USD in exportrevenues, up 21 percent and 24.8 percent year-on-year.
Electronicproducts are the only group of commodities suffering a decrease in exportturnover in the period, with a fall of 4.3 percent.
Hanoi’s export value has increased sharply in recent yearsbecause businesses in the city have taken advantage of the recovery of majoreconomies of the world, such as the US, Japan, the European Union and China.
Experts said to increase the export value, enterprises shouldrenew models of products according to the demand on markets and increasecompetitiveness by cutting production costs.
They have been also advised to improve product quality and develop the brand aswell as promote cooperation with local businesses. In addition to this, theyshould take advantages in export opportunities from free trade agreements thatVietnam has signed with foreign partners
Also in the first quarter of 2018, the city’s import turnoverreached 7.92 billion USD, up 15.1 percent over the same period last year.-VNA
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Illustrative image. (Photo: VNA) 
