HCM City: Exports forecasted to drop 4 percent in Q1
Ho Chi Minh City’s export revenue is estimated to hit 6.24 billion USD in the first quarter of 2015, an annual drop of 4 percent, according to the municipal Department of Industry and Trade.
Ho Chi Minh City’s export revenue is estimated to hit 6.24 billion USDin the first quarter of 2015, an annual drop of 4 percent, according tothe municipal Department of Industry and Trade.
Excluding crude oil, the figure would be 5.25 billion USD, up 5.62 percent from the same period last year.
Of the figure, a surge of 15.1 percent to 3.9 billion USD inindustrial goods exports is expected, with garments and textilescontributing 1.19 billion USD, up 8.3 percent; electronics andcomponents, 988.2 million USD, up 73.5 percent; and footwear, 565.2million USD, a rise of 12.6 percent.
Keymarkets for wood and timber product exports, such as Europe and Japan,have experienced difficulties since the outset of the year, resulting inless new contracts, said Tran Quoc Manh from the Handicraft and WoodIndustry Association of Ho Chi Minh City (HAWA).
The city’s export of agricultural, forestry and seafood products will see a 23.4 percent plunge to 919 million USD.
The biggest contributor to the contraction is rice, bringing homeonly 93.6 million USD and down 70.2 percent annually. The samedecreasing trend is seen in other staples such as seafood, coffee andrubber.
Among the few exports with growth are peppers and vegetables, up 13.9 percent and 25 percent, respectively.-VNA
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