HCM city: Industry and exports play leading role in economic growth

Friday, 28/04/2017 16:46
Industry and exports continued to be the leading driver for Ho Chi Minh city’s economic development, as they achieved impressive growth in the first four months of 2017.

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The Industrial Production Index in April was estimated to increased by 27% over a year earlier, with some sectors gaining sharp increase like production of motor vehicles (64%) and products made from prefabricated metal (16%).

Totaling the first four months of the year, the index rose nearly 7.1% compared to the same period last year. Four key industrial sectors, including mechanics, electronics, chemicals-rubber-plastics and food and foodstuff processing, soared more than 10% compared to April 2016.

Mechanics and electronics-information technology witnessed the gigantic growth of 18.9% and 13.9%, respectively, over a year earlier.

Total export turnover over the past four months hit USD10.9 billion, a year-on-year rise of 16.9%. If excluding crude oil value, export turnover still reached USD9.9 billion, up 16.8% from the corresponding period last year.

Export commodities with sharp growth included: rubber (40.6%), coffee (25.7%), computer, electronic products and components (68.9%) and other means of transportation and spare parts (70.9%).

Some export markets enjoyed strong increases such as: Singapore (91.5%), Malaysia (86%), Myanmar (66.7%), Spain (65.2%) and Australia (59.7%).

Hi-tech parks contributed some 27% of the export value, with revenue nearly hitting USD3 billion. As scheduled, if export growth of the hi-tech parks post USD12 billion in 2017, they will be likely to contribute 33% to the city’s GRDP growth./.

 

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