Export of processed industrial goods drops 20% in April

Remarkably, the processing industry dropped sharply by 20% comparing to March, estimated at US$16.4 billion.

Statistics showed that exports of computers, electronic products and components decreased by 10.5% compared to March 2020, reaching US$3.3 billion. Telephones and accessories decreased by 37.9%, reaching US$3.3 billion.

In addition, exports of textiles and garments decreased by 18.8%, reaching US$1.9 billion, while other machinery, equipment, tools and spare parts decreased by 8.3%, (US$1.8 billion); footwear down 6.6%, (US$1.3 billion); wood and wooden products dropped by 13.8%, (US$850 million).

To support enterprises to overcome the COVID-19 epidemic in the coming time, Minister of Industry and Trade Tran Tuan Anh suggested that ministries, branches and businesses should continue to take advantage of the free trade agreements, thereby continuing to improve the cooperation frameworks with these supply chains and partners in the region and around the world.

In addition, he also emphasised the need to improve policy frameworks that promote supply chain mechanisms and supply chains, both domestically and internationally, as well as accelerate the implementation of the Politburo's Resolution No.23 on industry, and Government's Decree No.111/CP on supporting industry.