According to the Department of Industry and Trade, the total import and export turnover in the first 9 months is estimated at 32 billion USD, equal to the total value of 2021. Particularly, export value reached over 16 billion USD, a surge of 60.4 percent year on year and reaching 84 percent of the annual plan.

Workers of Bac Giang BGG Garment Corporation Joint Stock Company are completing the products.

According to a report by the General Department of Customs, with its export turnover of more than 14 billion USD in 8 months of 2022, Bac Giang ranked 7th nationwide, in top 8 provinces and cities with export turnover reaching over 10 billion USD.

Its biggest export market is China followed by Republic of Korea, America, India, Spain and some other countries. The major export products are garment and textile, footwear, computer, electronics, mobile phone, electric devices and plastic products. The leading enterprises in export value include Luxshare-ICT Vietnam Company Limited, HonHai Foxconn Technology Group and Crystal Martin Vietnam Company Limited.

In line with foreign companies, domestic firms also achieved high export value. Bac Giang BGG Garment Corporation Joint Stock Company is a good example. In the first 8 months, the company exported 2 million products valued at about 60 million USD, up 15 percent year on year.

Prompt information

Great efforts of the enterprises in production and business in line with positive support of the province and competent agencies have contributed to creating breakthroughs in the province’s export turnover.

A production chain of Fuhong Precision Component Company Limited in Dinh Tram Industrial Park.

According to Pham Cong Toan, Vice Director of the Department of Industry and Trade, Vietnam has inked 15 Free Trade Agreements (FTAs) including 2 new-generation FTAs, which are Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and EU-Vietnam Free Trade Agreement (EVFTA) with high commitment in all sectors including both traditional and non-traditional ones. This is a good opportunity for the localities to gain rapid growth.

Bac Giang province pays special attention to the policies and guidelines for integration of the Party and State. The Steering Committee for International Economic Cooperation was established focusing on popularizing knowledge about economic integration (particularly, 100 percent of the export firms in the province were provided information in 2021 and 2022). Besides, it will promote comparative advantages of the province and make good use of the effective FTAs especially in industrial production sector.

Based on evaluating potentials and advantages of the locality, the province has proactively implemented and disseminated information about benefits of the FTAs for Bac Giang province to enterprises and cooperatives.

The FTAs not only help to expand market and boost import and export growth but they also foster foreign investment attraction to the province, thereby creating the big demand resources for production activity of investors.

The robust recovery of the world and domestic economy is thanks to supporting policies. The global economic recovery, resulting in a sharp increase in demand for materials and consumption, has boosted production, import and export activities in Vietnam including Bac Giang province.

In Vietnam, changes in Covid-19 fighting measures to gradually resume the economy of the Government have facilitated better and faster recovery. In implementing direction of the Government, Bac Giang province has been consistent to the growth targets, in which industrial production is defined as the driving force to boost import and export.

In 2022, Bac Giang strives to achieve 19 billion USD of export value. To that end, the province will continue to direct effective implementation of the measures to support businesses while regularly grasping situation of import and export and clearance of goods to timely warn the localities and enterprises for proactive responses to reduce congestion at the border gates.

Bac Giang in top 8 leading localities in export value

(BGO)- According to the General Department of Vietnam Customs, 8 localities nationwide reached over 10 billion USD in export turnover in the first 8 months of 2022.  2 more localities including Bac Giang province and Hanoi capital were added to the list.

Vietnam’s aquatic exports to Russia record strong rebound

Vietnam’s seafood exports to Russia have sharply recovered after many months of interruptions due to the impacts of the Russia-Ukraine conflict, surging 36% in July and 98% in August, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Six commodities with export value of over 10 bln USD

Six commodities registered an export value of over 10 bln USD in the first eight months of 2022, accounting for 63.4 percent of the country's total exports.

Vietnam 2022 rice exports to rise to 6.3-6.5 mln tonnes

Vietnam’s rice exports are expected to rise to 6.3 million-6.5 million tonnes this year from 6.24 million tonnes last year on strong demand, the chairman of the country’s food association said on Tuesday.

Vietnam’s leather, footwear exports exceed 14 billon USD in 7 months

Overseas shipments within the first seven months of 2022 earned more than 14 billion USD for the leather and footwear sector, an annual increase of 13%.