HCM City’s 2020 economic growth at 1.39 percent hinh anh 1Illustrative image (Photo: VNA)

HCM City (VNA) - HCM City’s gross regional domestic product (GRDP) hit 1.37 quadrillion VND (59.4 billion USD at current exchange rate) in 2020, a year-on-year increase of 1.39 percent.

Speaking at a press conference on December 29, Vice Chairwoman of the municipal People’s Committee Phan Thi Thang highlighted the prominent achievements in socio-economic development during the year despite the difficulties from COVID-19, especially in administrative reform and improving the investment and business environment.

According to the municipal Statistics Department, local enterprises earned 40.2 billion USD from exports (including crude oil) during the year; 1.3 percent higher than in the same period last year.

HCM City has five commodity groups with export value exceeding 1 billion USD, which also account for 83.5 percent of its total export turnover, led by the group of computers, electronic products and components, with 17.8 billion USD.

It was followed by textiles (4.3 billion USD), footwear (2.2 billion USD), and machinery, equipment, tools and spare parts (2.2 billion USD). “Other commodities” stood at 6.9 billion USD.

China, the US, and Japan remained the largest importers of goods from HCM City. Exports to China reached 10.5 billion USD, accounting for 26.2 percent of the total and up 23.7 percent year-on-year.

Enterprises in HCM City spent over 43.3 billion USD on imports, down 1.6 percent compared to 2019.

According to the General Director of the municipal Statistics Department Huynh Van Hung, total retail sales of consumer goods and services in the city during 2020 reached 1.2 quadrillion VND, down 1.3 percent year-on-year.

HCM City welcomed 1.3 million international visitors and 15 million domestic tourists in the year, down 84.8 percent and 54.2 percent compared to 2019./.