China becomes largest importer of HCMC products

VGP – China maintained its position as the largest importer of products from Ho Chi Minh City over the recent eight months of 2019 with the import value of US$4.944 billion, a year-on-year increase of 18.1% and accounting for 19.8% of the city’s total export value, according to the city’s department of statistics.

September 04, 2019 3:48 PM GMT+7

Ho Chi Minh City

The U.S. was the runner-up with US$4.2 billion, up 15.7% and making up 17.2%. It was followed by the EU US$3.37 billion and Japan US$2.13 billion.

The city earned US$27 billion from exporting, up 8.9% against the same period last year. The total export value (excluding crude oil) was estimated at US$25.62 billion, up 10.1%.

Key export items included agricultural products US$2.3 billion, forestry products US$353.6 million, aquatic products US$652 million, industry US$18.2 billion, crude oil US$1.5 billion and other products US$1.8 billion.

*The overseas remittance poured in Ho Chi Minh City over the recent eight months of 2019 reached US$3.45 billion, according to the State Bank of Viet Nam in Ho Chi Minh City.

The city expects to receive more than US$5 billion in overseas remittances for the whole year.

The overseas remittances into Viet Nam have continuously increased over the recent years, making the country listed among top 10 remittance recipients.

According to the World Bank, in 2018, the overseas remittances in Viet Nam increased from US$11.88 billion in 2016 and US$13.8 billion in 2017 to US$16 billion in 2018.

By Thuy Dung