HN: Export turnover grows 10.3% in Q3

25/09/2020

VGP – Export turnover was estimated to reach US$ 5.2 billion in Q3, representing a year-on-year increase of 10.3%, of which  US$ 3.7 billion were earned by the domestic sector, occupying 70.2%, up 19.2%.

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The FDI sector pocketed US$ 1.57 billion of export turnover, accounting for 29.8% of total export turnover, experiencing a year-on-year decline of 6%. 

In the first nine months, export turnover was estimated at US$ 12.1 billion, posting a year-on-year decline of 0.9%. 

Especially, this is the first time so far this year the city has enjoyed an increase in export turnover despite the negative impacts of the COVID-19 pandemic. 

In the first nine months, five groups of export gained higher export turnovers including pottery with US$ 152 million (up 6.5%); glass and glass products with US$ 261 million (up 1.3%); furniture with US$ 389 million (up 8.9%); footwear and leather products with US$ 200 million (up 1.9%0; and others with US$ 4.7 billion (up 42.4%). 

Generally, in the January-September period, all Ha Noi’s key export markets experienced declining export turnovers including the U.S. (down 3%); Japan (down 6%); the EU (down 6.9%); and China (down 5.1%). Only ASEAN market expanded thanks to rice export to the Philippines and Indonesia. 

On the other hand, import value was estimated at US$ 7.01 million in Q3, representing a year-on-year decline of 10.8%. 

In the first nine months, total import turnover was estimated US$ 20.7 billion, representing a year-on-year decline of 8.5%. The city ran a trade deficit of US$8.6 billion, equivalent to 71.1% of total export turnover. 

Import turnovers of Ha Noi’s key markets declined, including China (down 18.2%); Japan (down 4.6%); the RoK (down 11.6%); and ASEAN (down 19.7%)./

By Kim Anh