Export revenues surge 86 percent in Q1

4/19/2022 - 2:44:04 PM

(HBO) – Striving to maximise advantages brought about by free trade agreements so as to expand export markets, especially for high added-value products to markets that are on the course of prompt recovery after COVID-19, Hoa Binh posted positive results in exports-imports in the first quarter of 2022.

Export revenues hit 361.85 million USD in the period, enjoying a year-on-year surge of 86.13 percent and reaching 25.18 percent of the year’s plan.

Photo: In the first three months, Esquel Vietnam garment-textile company in Hoa Binh’s Luong Son industrial park strived to restore production to contribute to the provincial export revenues.

Export turnover of electronic products was estimated at 208.12 million USD, expanding 101.01 percent against the same period last year and accounting for 57.5 percent of total revenues. Garment-textile raked in 106.23 million USD in Q1, up 52.28 percent and making up 29.35 percent.

It is worthy of note that the export of farm produce also saw recovery, but only made up 5 percent in the total exports and did not align with the province’s potential. Hoa Binh’s products were mainly shipped to traditional markets of the US, Europe, China, the Republic of Korea, Japan, Russia and ASEAN nations.

Also in the quarter, the province imported goods worth nearly 272.47 million USD, rising 72.56 percent compared to the same period last year and hitting 24.84 percent of the year’s plan./.

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