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Wednesday, May 18, 2022

HCMC still Vietnam’s biggest exporter in 2021 despite Covid impact

The Saigon Times

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HCMC – Even though it was heavily hit by the Covid pandemic in the third quarter of 2021, HCMC remained the country’s biggest exporter last year, generating a staggering US$44.9 billion in export revenue.

This was the straight sixth year that the city had taken the lead by export revenue, the local media reported.

Bac Ninh Province came second, with an export value of US$44.8 billion, according to a recent report on the 2021 import and export released by the Ministry of Industry and Trade.

Binh Duong Province surpassed Thai Nguyen Province to take the third spot, with its export revenue amounting to US$32.7 billion. Meanwhile, Hanoi City dropped to the eighth spot, with a value of US$15.5 billion.

In 2021, Vietnam exported goods worth over US$336 billion, up 19% against 2020.

The processing sector was still the largest earner, with a total export value of some US$290 billion, rocketing 86% against the previous year, while the agro-forestry-fishery sector ranked second with a value of US$28 billion, up 8% against 2020.

According to the ministry, the impact of the pandemic at the end of the second quarter and at the beginning of the third quarter of 2021 forced a series of firms in the southern region to suspend production, leading to disruptions in export.

Besides, high logistics costs, the rising prices of materials and a shortage of shipping containers pushed up production costs and the export prices of products.

Apart from the State agencies’ policies, firms proactively adapted to the pandemic, diversified import markets and ramped up their sales to major partners to help export activities bounce back in the fourth quarter of 2021.

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