Positive Industrial and Commercial Signals

9:06:25 AM | 9/11/2023

The socioeconomic performance of An Giang province in the first six months of 2023 was relatively stable, driven by positive manufacturing and business growth.

An Giang boasts high seafood output and export turnover

According to a report on work performance in the first six months and work plan in the last six months of 2023 released by the An Giang Department of Industry and Trade, the June Industrial Production Index was estimated to rise by 0.52% month on month and 9.03% year on year. In the first half of the year, the measure grew by 7.76%, 3.21 percentage points lower than the 6-month growth scenario.

Domestic trade continued to grow steadily to contribute to overall growth. Specifically, the supply of goods was enough for local consumers’ needs while commodity prices were kept stable and controlled. The 6-month retail revenue of consumer goods and services was estimated at VND42,394 billion, up 17.42% year on year, equal to 80.88% of the given scenario and 40.78% of the given plan.

On the export side, in the context of declined global aggregate demand, inflation and economic recession in many countries, An Giang's total import and export value still expanded in the first half of the year. Accordingly, the June merchandise export value was estimated at US$96.56 million, 0.16% higher than the previous month and 2.89% higher than a year-ago period, bringing six-month value to US$573.98 million, up 3.77% year on year, equal to 49.1% of the full-year plan and 99.64% of the given growth scenario of the province.

On the import side, commodity imports helped local companies continue their manufacturing. The June import value was forecast at US$16.7 million, up 1.2% month on month and 1.11% year on year, totaling US$97.63 million in the first six months of 2023, up 3.46% year on year, equal to 44.78% of the yearly plan and 98.61% of the growth scenario.

Cross-border export and import value was estimated at US$1.34 billion in the first half of 2023.

These results were attributed to gradually stabilized operations of local enterprises. In addition, the Provincial People's Committee, relevant agencies and localities, especially the Department of Industry and Trade, implemented many solutions and activities to support enterprises to maintain and develop their business.

To realize the targets in the province's socioeconomic development plan in 2023, the Department of Industry and Trade will continue to effectively advise the provincial government and enhance business support; regularly capture and monitor the business performance of local companies in order to promptly advise solutions to emerging issues.

The department will also promptly update market price movements, especially of essential commodities; effectively implement commodity supply plans to stabilize the market and prevent natural disasters and epidemics in the province in 2023; and strengthen investment, trade promotion and business support for market expansion.

By Danh Hai, Vietnam Business Forum