Ninh Binh's export continues to see impressive growth

Though price fluctuations and political conflicts have affected international trade, Ninh Binh province's export still achieved impressive growth in the first eight months of 2022.
Ninh Binh's export continues to see impressive growth

Production line of Ever Great international co, ltd.

In the reviewed period, Ninh Binh's export witnessed a year-on-year rise of 20.6%, laying a foundation for the province to fulfill its socio-economic development targets and plans in the year.

Implementing the provincial People's Committee's measures to boost economic growth and recovery in 2022, sectors and localities have focused on removing difficulties and hindrances faced by local production businesses, thus stepping up growth in all fields, including export.

According to a report from the provincial People's Committee, the province's export value was estimated to hit 296.6 million USD in August, up 16.3% from the same month of 2021. In the first eight months of 2022, Ninh Binh's total export revenue reached over 2.14 billion USD, a year-on-year increase of 20.6%.

Some key export staples are canned pineapple and cucumber (up 89.7%); condensed pineapple juice (88.4%); clothes (45.2%); sedge mat (9.4-fold); embroidery products (51.6%); footwear (43.4%); and camera and components (35.3%).

Meanwhile, some products saw declines such as cement and clinker (down 26.2%); optic glass (29.5%); and fertilisers (69.8%).

In the opposite direction, in the eight months of 2022, the province's import turnover hit more than 2.28 billion USD, a year-on-year increase of  15.8%.

Key import products are electronic components, automobile spare parts, raw materials for footwear, textile, garment and automobile production.

The import has solved the shortage of raw materials for production of local firms, thus spurring the industrial production value in August with a year-on-year rise of 10.8%.

According to the Department of Industry and Trade, since the beginning of 2022, many economic sectors have faced difficulties related to raw materials, transportation, and prices. The year-on-year export growth of 20% proved self-reliance of local businesses in production and response to the market.

In an attempt to create favourable conditions for exporters the department has organised numerous activities to boost trade connection with domestic and international partners, thereby opening up opportunities for small- and medium-sized enterprises to access to potential markets and increasing the efficiency of production and business activities.

International trade promotions have been improved by applying IT to create opportunities for firms to share, and define their orientations as well as measures to penetrate the target export and import markets.

Director of the provincial Sub-department of Customs Le Thanh Hai said the customs sector has continued implementing measures to improve the business and investment climate, as well as the competitiveness of the business community in the province.

It has promptly received and cleared up obstacles of businesses in import-export activities via direct dialogues or meetings.

It is predicted that the socio-economic situation in the year-end months would face disadvantages, therefore the Ninh Binh provincial People's Committee has requested the Department of Industry and Trade to continue assisting firms in terms of market information and export promotion.

At the same time, it will cooperate  with the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade to make the best of commitments in signed FTAs and seek new markets via global value chains.

The department will work with related agencies to strictly monitor developments in the international situation and actively assess their impacts on domestic import-export and production activities, thus promptly adjusting measures to support local firms.