Quang Ngai province's export turnover in 2023 reaches nearly 2.5 billion USD

DNHN - Quang Ngai provincial figures indicate that the province's export revenue in 2023 is expected to reach USD 2.4 billion, up 7.6% from 2022 and 14.3% over budget. These are striking numbers—the highest export turnover for Quang Ngai ever.

In 2023, it is projected that Quang Ngai's export revenue will reach 2.4 billion USD, up 7.6% from 2022 and 14.3% above the yearly objective of 2.1 billion USD. A few things went beyond the 2023 budget: 11.5% more machinery, 50% more steel, and 11.1% more other commodities.

Furthermore, the projected import turnover for 2023 is expected to be 3.5 billion USD, down 0.3% from 2022, and 8% higher than the yearly goal of 3.3 billion USD.

Specifically, five times as much was imported as anticipated for raw materials, flavours, and supplies needed to produce milk, beer, and confections; also, 17.3% more iron, steel, and iron ore were imported than anticipated.

The province government of Quang Ngai made great efforts to support and share challenges with the business community, create a stable environment for businesses to produce and trade, and diversify a wide range of products supplied to both domestic and foreign markets, all of which contributed to a significant increase in the region's export turnover.

Proactive and adaptable in their production planning, export companies have taken advantage of the recovery and scarcity of goods in import markets, made efficient use of free trade agreements, and increased exports quickly.

Some businesses have increased their export markets. For example, Quang Ngai Foodstuff JSC has increased exports to South Korea and the Philippines. GE Vietnam Electrical Systems Company Limited has exported two boiler heat recovery module systems worth a significant amount to Taiwan.

Additionally, some businesses have engaged in the export of new goods. For example, Toray International Vietnam Company Limited has exported rain gear to markets in Japan, South Korea, Taiwan, the UK, and the US; Fujikura Automotive Company Limited has exported automotive wiring harnesses to Japan; and M.E. Nikkiso Vietnam Company Limited has exported medical infusion sets and their parts to markets in the US and Thailand.

In many ways, Quang Ngai province had a prosperous year in 2023. 24 of the 25 primary goals for 2023 were accomplished, with 13 of those goals surpassing the Provincial People's Council Resolution.

A notable aspect that significantly bolstered the province's overall prosperity was Quang Ngai's import-export operations surpassing the 2023 budget. Goods like wood chips for papermaking, yarn, textile fibres, textiles, shoes, leather bags, etc. also presented challenges.

It's expected that 2024 will be a tough and demanding year. According to Quang Ngai, the remarkable import-export figures for 2023 will serve as a foundation and source of inspiration for businesses to take advantage of chances to increase output, revenue, and exports.

Trong Tam