The localities that contributed to large export turnover such as Ho Chi Minh City, Bac Giang, Thai Nguyen and Binh Duong all had export turnover decrease by many billions of USD in the first 6 months of 2023.

In the first 6 months of 2023, the whole country has 7 provinces and cities with export turnover of USD10 billion or more, according to preliminary statistics released by the General Department of Customs.

Compared to the same period last year, the number of localities exporting tens of billions of USD increased by 1, namely Bac Giang province. This locality achieved an export turnover of USD10.7 billion, up 8% from the same period last year, also being a rare locality with positive export growth.

The remaining localities that maintain a turnover of tens of billions of USD are Ho Chi Minh City, Bac Ninh, Binh Duong, Thai Nguyen, Hai Phong and Dong Nai.

However, the export turnover of the six localities mentioned above did not have a significant growth, even many provinces and cities decreased sharply compared to the same period last year.

By the end of June, the country’s exports reached more than USD164 billion, down 12.1% from the same period in 2022.

The whole country has 27 items with export turnover of over USD1 billion, accounting for 90.1% of total export turnover. There were 5 export items of over USD10 billion, accounting for 57 ,8%.

In the first half of 2023, exports of goods to all major markets decreased. In which, exports to the US reached USD44.2 billion, down 22.6% from the same period; to China reached USD25.6 billion, down 2.2%; to the EU reached USD21.6 billion, down 10.1%; to Japan reached USD11 billion, down 3.3%; to ASEAN reached USD16.3 billion, down 8.7%; and to the Republic of Korea reached USD10.9 billion, down 10.2%,

Many reasons led to the remarkable decline in import and export activities in the first 6 months of this year. The main reason was the decrease in global consumption of goods due to inflation and increased competition.

In addition, input costs remain high while export prices have not increased, or have even decreased, due to strong competition in exporting countries. Key commodities such as seafood, wood and wood products, iron and steel, and plastic products are subject to increased trade remedies in exporting countries.

Communist Party of Vietnam Online Newspaper