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Thai Binh in 11 months of 2023 | FDI | Export & Import

Mr.Believer Mr.Believer posted on 06/12/2023

In the first 11 months of 2023, the Index of Industrial Production (IIP) is estimated to increase by 10.5% compared to the same period last year: the manufacturing and processing industry increased by 0.6%; the mining sector decreased by 16.8%; the electricity production and distribution sector increased by 76.8%; and the water supply, management of waste, and wastewater treatment activities increased by 3.4%.

↘️ In total, during the first eleven months, 25 new FDI projects were granted licenses, amounting to a registered capital of USD 710.5 million.

↘️ The total import-export turnover of goods is projected to reach 4,006 million USD, declining by 7.6% compared to the same period last year. Specifically, exports increased by 6%, while imports decreased by 22.7%. The trade balance of goods shows a surplus of 835 million USD.

↘️ The export turnover is estimated to reach USD 2.42 billion, showing a 6% increase compared to the same period. Private sector exports reached USD 1.422 billion, marking a 6.9% growth, while exports from foreign-invested enterprises reached USD 998 million, up by 4.8%. Some notable increases in export value include: computers, electronic products, and components (+4.4 times); seafood products (+67.3%); products of bamboo, rattan, sedge, and carpet (+56.7%); ceramic and porcelain products (+25.4%); and other commodities (+22.7%). Conversely, certain products experienced a decrease: iron and steel (-27.3%); wood products (-16.9%); textiles and garments (-4.5%)...

Asia remains the largest export market, accounting for USD 1.334 billion (55.1% of total exports) with a growth of 16.2% compared to the same period. Following is the Americas with USD 659 million (27.2%, a decrease of 3.3%), and Europe with USD 234 million (9.7%).

↘️ The total import turnover is estimated at USD 1.585 billion, a 22.7% decrease compared to the same period last year. This decline is primarily attributed to a sharp decrease in the import of petroleum products by Hai Ha Inland Waterway Transport Company (-USD 668 million). Additionally, the province's major export item, textiles, and garments, experienced a decline, resulting in reduced imports of raw materials for production.

In terms of economic sectors, imports by private enterprises reached USD 845 million, a 42.9% decrease, while foreign-invested enterprises reached USD 740 million, marking a 29.8% increase. Some items experienced significant increases, such as chemicals (+2.6 times); computers, and electronic products (+2.3 times); iron and steel scrap (+2.1 times); other machinery, equipment, and spare parts (+40.9%); other goods (+28.6%); various fibers (+24.1%);... Conversely, some items experienced declines, including various fuels (-89.2%); raw plastic materials (-34.3%); seafood products (-31%); various iron and steel products (-7.2%); fabrics of various kinds (-2.9%);...

Asia remains the largest import market for the province in the first eleven months of 2023, reaching USD 1.294 billion (accounting for 81.6%), an 18.2% decrease compared to the same period. Following is Europe with USD 55 million (3.5%) and the Americas with USD 51 million.

↘️ Key industrial products experienced notable growth rates compared to the same period last year. These include non-alloy steel ingots or semi-finished forms (+72.3%); rolled steel (+69.1%); safety airbags (+85.3%); electrical production (+88.9%); face towels, bath towels, and other room-use towels (+7.5%);... However, some products saw a decrease compared to the same period, such as suit sets, coordinated clothing, jacket shirts (-3.5%); adult shirts (-35.4%); sanitary ware products (-13%); sets of lights used for Christmas trees (-12.8%); natural gas in gaseous form (-22.3%)...

 

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