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Phu Tho among the top 10 of the highest export turnover localities in 2023
According to the Ministry of Industry and Trade’s 2023 Vietnam Import-Export Report, Phu Tho placed 9 out of 63 localities with the highest export turnover in the country, with USD10.6 billion.
Workers employed at JNTC Vina Company Limited, Thuy Van Industrial Park, Viet Tri City
Among the Top 10, Ho Chi Minh City leads the country in export turnover with over USD42.4 billion; Bac Ninh is ranked second with a turnover of USD39.3 billion; Binh Duong placed third, with USD30.6 billion. The provinces and cities that come next are Hai Phong, Thai Nguyen, Bac Giang, Dong Nai, Hanoi, Phu Tho, and Vinh Phuc.
Phu Tho Customs Branch officials assist firms in carrying out import and export processes for commodities.
The analysis clearly suggests that 2023 would be a challenging year for the Vietnamese economy owing to both internal and external factors. Vietnam’s economy is very open, therefore it is heavily influenced by global economic development, aggregate demand declines, market volatility, and major nations' policy adjustments, particularly interest rate-exchange rate changes. Vietnam’s key development drivers, such as investment, exports, and domestic consumption, confront several hurdles.
Previously, in 2022, Phu Tho was rated ninth out of 63 provinces and cities, with the highest export turnover in the country at USD11.8 billion. Thus, in 2023, Phu Tho’s export turnover would fall by USD1.2 billion compared to the same period last year (equal to around 10%).
Bao Khanh
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