Yen Bai posts export growth in first five months amid difficulties

Economy

Yen Bai posts export growth in first five months amid difficulties

Thursday, June 24, 2021

YBO - Export firms in Yen Bai have managed to maintain operations and devise plans to cope with the ravaging COVID-19 although the pandemic has dealt a blow to all socio-economic aspects and is predicted to persist until the end of Q2.

Limestone powder of Eco Green Plastic JSC is shipped abroad.

Some of them reported export revenue after bearing the brunt of the pandemic, including the Luc Yen branch of the Viet Duc Metallurgy and Mining, and the Thuan Duc Trade and Export-Import JSC.

Exports of minerals in the province were recently affected by pandemic-hit markets of India and China.

The garment-textile sector, on the contrary, maintained operation for taking actions in a timely manner. It raked in 24.9 million USD from exports in the first five months of the year, making up 30 percent of the province’s export value.

The sector’s major export markets in the period were the Republic of Korea, the US and Japan. Those markets are forecast to produce stable orders in the latter half of the year, therefore export revenues will see few fluctuations.

Plastic products, accounting for 25 percent of the provincial export values, also have stable export markets.

Some mining companies have seen orders come back again after a period of interruptions.

Thanks to efforts by local businesses, export turnover of the province hit 16.8 million USD in May alone, up 5.7 percent against the previous month and surging 76 percent year on year.

Quang Thieu

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Economy