Hanoi (VNA) ൲– Hanoi recorded a slight year-on-year decrease of 1.3% in exports to 5.3 billion USD in the first four months of 2023, according to its Department of Industry and Trade.

The revenue comprises 2.9 billion USD by the domestic sector, up 0.8%, and 2.4 billion USD by foreign direct invested firms, down 3.8%. Commodities that posted export declines during the period include apparel, vehicles and spare parts, timber and wood products, footwear, and leather products. In April alone, the capital city earned nearly 1.52 billion USD from overseas shipments, rising 3.6% month on month and 2.3% year on year, statistics show. Tran Thi Phuong Lan, Acting Director of the department, elaborated that the fall in four-month exports was due to the downward trend since the last months of 2022. Though Hanoi witnessed a trade surplus in January and February, the export value of most groups of commodities dropped, with many staples’ turnover plummeting by double-digit rates from the same period last year. Meanwhile, wholesale and retail still enjoyed good growth, she said, adding that total retail sales of goods and consumer service revenue in Hanoi reached some 184.4 trillion VND (over 7.8 billion USD) in the first quarter, up 12.6% from a year earlier. That includes 118.9 trillion VND in retail sales, accounting for 64.4% of the total and growing 12.2% year on year. Thanks to domestic consumption stimulus programmes, retail sales and consumer service revenue have risen, helping enterprises address difficulties and boost production and business activities and contribute to local economic growth, the official added./.