|HCM City’s imports and exports increased during the first eight months of the year. – Photo tapchitaichinh.vn|
HCM CITY — Total bilateral trade of HCM City for the first eight months of the year was US$55.34 billion, according to the city’s Department of Industry and Trade.
Exports totalled $24.66 billion, 6 per cent higher than the same period last year, while imports were $30.68 billion, 9.6 per cent higher than last year.
Industrial goods were among the highest exporting product groups, with electronic goods exports increasing by 12.8 per cent from last year, and textiles and garments up by 5.4 per cent, machinery and equipment, up by 4.9 per cent.
However, footwear and agricultural goods were down by 2 per cent and 0.3 per cent, respectively, due to lowered exporting prices, such as the price of coffee, which fell by 14.2 per cent.
Nguyễn Phương Đông, deputy director of the department, said that during the last quarter of the year, exports would continue to rise due to rising demand during the winter and holiday seasons.
The recovery of the dollar will make Vietnamese goods cheaper by comparison, driving up Vietnamese exports, he said.
However, Đông added that the rising trend of countries enacting protectionist policies to protect domestic goods, as well as applying stricter quality control and environmental protection, means that exports may face more challenges in the future. — VNS