6.1% rise for Danang exports from the same period last year

[ASEAN NOW News]

Maintaining the growth momentum from 2020 till now, the steady growth of goods exports became a bright spot on Da Nang’s economic picture during the January – September period with a rise of 6.1% from the same period last year.

 

Da Nang exporters have gradually affirmed their prestige and brand in domestic and foreign markets. Workers are seen at the 29-3 Textile and Garment JSC. Photo: KHANH HOA

 

Maintaining growth momentum

 

According to the Da Nang Statistics Bureau, during the January – September period, the total import and export turnover of goods was estimated at over US$ 2.2 billion, up 14.1% as compared to the same period last year. In particular, the export turnover went up by 14.9% to hit more than US$1.3 billion.

 

Notably, in the third quarter of 2021 which witnessed the rage of the fourth COVID-19 wave, production activities throughout the city suffered a decline. However, thanks to the great efforts made by local enterprises in promoting exports, keeping the supply chain as well as having flexible plans to adapt themselves to the developments of the pandemic, the total export turnover remained stable with a rise of 6.1% from the same period last year.

 

That exports saw the year-on-year growth for nearly two consecutive years while imports were kept on a right track brought about a widening trade surplus.

 

According to baodanang.vn/, as accumulated from the beginning of this year until now, the city's trade balance of goods has continued to record a trade surplus of over US$328 million. This is viewed as an optimistic signal amid the fact that the country's trade balance has fallen into the state of trade deficit in recent months. In reality, Da Nang has still maintained the highest trade surplus as compared to the same period in the 2015 - 2020 period.

 

Notably, Da Nang has well performed in continuously maintaining a stable share in such major export markets as Japan (accounting for about 30 - 35%), the U.S. (17 - 20%), the EU (about 15%) and other countries (30- 35%).

Besides, Canada, Mexico, Peru, and other countries have become new export markets of great interest to many Da Nang-based businesses.

 

Another highlight in the city's export activities over the past two years is an increase in the number of Da Nang-based enterprises which have sought berths onto a list of the most prestigious exporters in Viet Nam initiated by the Ministry of Industry and Trade.

 

More recently, in mid-August 12 Da Nang-based enterprises were amongst the 315 most prestigious exporters in Viet Nam in the 2020 list. 

 

Besides the familiar names for many years such as Da Nang Rubber JSC, Thuan Phuoc Seafoods and Trading Corporation, SEADANANG, Hoa Tho Textile and Garment Corporation, Minh Khang Handicraft Export Co., Ltd, the 29-3 Textile and Garment JSC, Danapha Pharmaceutical JSC, Duy Thanh Art Export Co., Ltd., and Song Thu Corporation, such newcomers as such as Foster Da Nang Co., Ltd., and Mabuchi Motor Da Nang Co., Ltd. and Daiwa Viet Nam Co., Ltd. have begun to appear on the "map" of highly reputable exporters in the country.

 

The achievement is not only valuable in terms of economic development, but it also contributes to promoting the city’s image and brand in the field of production. Besides, it also shows that export activities continue to be a prominent highlight in the city's economic performance over the past time.

 

On track to achieve "dual" goals

 

As a reputable exporter of the whole country for many years, the 29-3 Textile and Garment JSC, in the coming time, will continue to exert greater efforts to increase the amount of goods exported to traditional and key markets to gain stability and create a solid foundation for more development strides in the coming years.

 

Looking back to import and export activities in the January – September period of 2021, Ms. Le Thi Kim Phuong, the Director of the municipal Department of Industry and Trade, affirmed that the stable growth of exports, first of all, was mainly attributed to the city’s effective and decisive pandemic containment measures whereby many businesses have been able to maintain their production activities, whilst the supply chain of export items has not been disrupted, thus fulfilling orders made by foreign countries.

 

Besides, that enterprises showed off their great efforts and dynamism in overcoming difficulties and finding out proper alternatives in terms of raw materials, market structure and business strategy amid the complicated pandemic is also a decisive factor to the success of import and export activities.

 

Most of the key industry groups which have made a large contribution to the city's total export turnover such as textiles and garments, seafood, rubber products, engines, electrical and electronic components have secured a stable growth since 2020, especially in the 9-month period of 2021.

 

To support Da Nang’s exporter to expand their consumption markets in the time ahead, the municipal People's Committee has recently issued several preferential mechanisms and policies in the industrial sector.

 

In detail, focus will be placed on organizing industrial promotion programmes, developing highly- skilled workers, promoting brands, developing many supporting industries, facilitating enterprises to benefit from import-export mechanisms and policies, building up the roadmap for the implementation of integration commitments, opening more trade connection opportunities, launching trade promotion programmes and e-commerce.

 

At the same time, the local authorities will simplify administrative procedures and remove difficulties facing local importers and exporters.

 

For the time being, many local exporters are also making good use of the free trade agreements to seek potential export markets.