In 10 months, Ha Tinh's export turnover reached 114% of the plan.

By the end of October 2023, Ha Tinh 's export turnover reached over 2.28 billion USD, an increase of 60.2% compared to the same period last year and achieving 114% of the plan set for this year.

In the first 10 months, Ha Tinh's export turnover reached 114% of the plan.

Formosa Ha Tinh Hung Nghiep Steel Company Limited's export turnover accounts for over 90% of the province's total export turnover.

In October 2023, Ha Tinh's export activities received positive signals with a turnover of 182.6 million USD, an increase of 4.5% compared to the previous month and nearly 45% compared to the same period last year. Exports from Formosa Ha Tinh Hung Nghiep Steel Company Limited alone reached over 172.7 million USD (accounting for 94.59% of total export turnover), an increase of 6.2% compared to the previous month and a significant increase of 60.8% compared to the same period last year.

Overall, in recent months, the province's merchandise exports have recorded significant growth. From the beginning of the year to the end of October 2023, export turnover reached over US$2.28 billion, a 60.2% increase compared to the same period last year. Exports of steel and steel billets increased by 70.5%, and tea by nearly 2% year-on-year. While textiles and garments have recently faced difficulties, overall export turnover from the beginning of the year to date has still increased by over 2%.

In the first 10 months, Ha Tinh's export turnover reached 114% of the plan.

In the first 10 months of 2023, Ha Tinh Tea Joint Stock Company exported more than 1,740 tons of dried tea.

According to a representative of Ha Tinh Tea Joint Stock Company, the company's main markets are Middle Eastern countries such as Afghanistan, Pakistan, and Saudi Arabia. In the first 10 months of the year, the company exported more than 1,740 tons of dried tea, generating over $4 million in export revenue. With less than two months remaining in 2023, and an export target of 2,300 tons, the company is accelerating its efforts to achieve the highest possible results.

Besides the items that showed growth, in the first 10 months, the export value of many product groups decreased sharply compared to the same period last year, such as: textile fibers (down 19.3%); wood chips (down 14.8%); and seafood (down 10.8%). The main reason is the impact of the global economic recession, leading to a decrease in orders and product prices.

Mr. Vo Ta Nghia, Deputy Director of the Department of Industry and Trade, stated: In 2022, the global steel market declined, resulting in high inventories of steel and steel billets. In 2023, consumption improved, leading to a significant increase in exports of steel and steel billets compared to the previous year. Formosa Ha Tinh Hung Nghiep Steel Company Limited's export turnover accounted for over 90% of the province's total export turnover. Therefore, despite difficulties in some export items, their export value was small and did not significantly impact the overall export turnover. As a result, the province's export turnover continued to grow considerably.

In the first 10 months, Ha Tinh's export turnover reached 114% of the plan.

The garment export industry is currently facing difficulties due to a sharp decline in orders.

To date, the province's export turnover has reached 114% of the 2023 plan (US$2 billion). According to calculations by the Department of Industry and Trade, the projected export turnover for the whole year is approximately US$2.4 billion, reaching 120% of the plan.

In the final months of the year, businesses are striving to increase production, conduct business, and boost exports to achieve the best possible results.

Mr. Le Huu Son, Chief Accountant of HANVIHA Forestry and Paper Raw Material Production Company (Vung Ang Economic Zone), said: "In the first half of 2023, the wood chip industry faced many difficulties due to a shrinking market and a sharp drop in product prices. From around June until now, the market and prices have stabilized, and wood chip exports have therefore seen a significant improvement. In the first 10 months, the company exported approximately 110,000 tons of wood chips, with export revenue reaching 16 million USD, equivalent to the same period last year. Currently, the company is striving to overcome difficulties and ensure supply to achieve the export target of 150,000 tons of wood chips as planned."

In the first 10 months, Ha Tinh's export turnover reached 114% of the plan.

Wood chip exports have seen improved market conditions and prices since mid-2023.

In the textile and garment industry, facing extremely difficult circumstances, businesses are adapting through various solutions such as: accepting domestic orders, adopting flexible production methods, fulfilling small orders, and improving product quality to secure orders in order to maintain production and retain workers, while being ready to seize opportunities when the market recovers.

With the goal of facilitating businesses and developing export activities in the area, the Department of Industry and Trade continues to implement export support policies; support businesses in improving product quality to increase competitiveness; monitor the activities of export businesses, especially in struggling sectors such as textiles and garments; and promptly provide information on export markets to businesses. At the same time, it strengthens trade promotion to support market research for export products; and continues to maximize the benefits and advantages from free trade agreements that Vietnam participates in to boost exports...

Ngoc Loan

Source