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Ho Chi Minh City’s exports up 8.8 percent

The Ho Chi Minh City’s exports in January increased by 8.8 percent to US$1,349 million compared to a year earlier.
Of the total export value, the State-owned sector accounted for 53.1 percent (up 7.2 percent), the private sector, 20.6 percent (up 13.1 percent) and the foreign invested sector, 26.2 percent (up 6.6 percent).

The city also exported 150,000 tonnes of rice, earning US$63.3 million, up 42.1 percent and a yield of US$24.3 million (up 6.1 percent) from seafood exports. Garment exports hit US$134 million, up 12.7 percent while footwear exports reached US$34 million, up 10.8 percent.

The highest import growth was in milk and dairy products (86.3 percent), following by steel (36.4 percent), pharmaceuticals (33.7 percent). garment materials (13.2 percent), footwear material (21.1 percent) and plastics (5 percent).

Together with projects to step up exports and control trade deficit, the city is carrying out a series of other measures to boost exports, expand markets, and strengthen trade ties with new partners.

Economic experts say that the world economic recovery has led to the signing in late 2009 of many contracts for garments and footwear production but businesses are still facing difficulties due to lack of workers, especially skilled ones.