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HCM City exports fetch 35 billion USD in 2017

HCM City’s export revenue reached an estimated 35.55 billion USD last year, a year-on-year increase of 16.1 percent, according to the city Department of Industry and Trade.
HCM City exports fetch 35 billion USD in 2017 ảnh 1HCM City exports fetch 35 billion USD in 2017 (Source: VNA)

HCM City (VNA) -HCM City’s export revenue reached an estimated 35.55 billion USD last year, a year-on-yearincrease of 16.1 percent, according to the city Department of Industry andTrade.

The department said the city’s exports have changed significantly, to put themin line with the city’s export targets as well as with changes in the economicstructure.

Specifically, the export of agro-forestry-fishery products has reduced itsproportion of the city’s total export turnover. Agro-forestry-fishery exportsaccounted for 18.4 percent in 2015, then dropped to 16.4 percent in 2016 and15.4 percent in 2017.

Meanwhile, exports of industrial products have continuously increased andaccounted for the highest portion of the city’s exports at 75.3 percent.

Exports of computers, electronic products and accessories were among theproducts with the highest export revenue, and had stable growth in the past,with exports from firms located at the HCM City Hi-Tech Park accounting for 90percent of the total export revenue in this group.

Regarding export markets, the department said exports to markets that Vietnam hasfree trade agreements with such as the EU, ASEAN, China, the Republic of Korea,Japan, Australia and New Zealand have tended to increase significantly.

To raise the efficiency in exports, the department has identified the list ofgoods that have high export potential and competitiveness.

The department is working with the Institute of Public Policy - University ofEconomics HCM City and experts of Fulbright University to develop the ExportDevelopment Project in the 2017-20 with an orientation to 2030. The project isexpected to be sent to the city People’s Committee for approval in the firstquarter of this year.-VNA
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