Illustrative image (Source: VNA) Dong Nai (VNA) – Export turnover of the southern province of Dong Nai saw a sharp decline against the same period in the past several years due to high inflation in developed countries and slow consumption, the provincial Statistics Office revealed on March 1.
In the first two months of 2023, the province’s export turnover reached nearly 2.9 billion USD, a decrease of about 28% year-on-year. It’s the first time in nearly a decade, the province has experienced such a downward trend in all three economic types, including foreign-invested, state-owned and private enterprises.
Notably, earnings from key products such as furniture dropped by more than 45%, fiber decreased by 44%, computers fell by nearly 40%, footwear slumped by more than 20%, and textiles and garments plunged by over 17%.
Since the beginning of this year, the province imported nearly 2.1 billion USD worth of goods, a fall of 26% year on year. The import turnover of items such as plastic, wood, materials for textiles and garments, leather, and shoes decreased from 30% to more than 50% over the same period in 2022.
Key products including leather shoes, textiles, furniture, and electronic and computer components have been exported to traditional markets such as the European Union, the US, and Japan.
Due to a shortage of orders in these markets, local enterprises have taken a two-pronged approach to make up for the shortfall by seeking new markets and strengthening consumption in the domestic market./.
