Central Thanh Hoa province's total import-export turnover is estimated to exceed $73.7 billion from 2021 to 2025, with exports reaching approximately $29.27 billion and imports at $44.48 billion, averaging a growth of 14.9% annually.
Products labeled "Made in Thanh Hoa" have now reached nearly 70 countries and territories, featuring over 55 key product groups such as textiles, footwear, cement, crude oil, seafood, wood chips, and handicrafts.
According to representatives from the Thanh Hoa Department of Industry and Trade, besides traditional markets like the United States, Japan, and South Korea, many local businesses have proactively expanded into high-consumption potential markets such as Europe, India, the Middle East, and Africa.
This expansion not only helps diversify product outlets but also lays a foundation for stable development amid increasingly fierce global trade competition.
Alongside exports, Thanh Hoa also focuses on expanding investment cooperation in high-tech industries, technology transfer, education, and smart urban development, particularly with the Republic of Korea and Japan.
LEVERAGING FTAs TO ENHANCE EXPORT VALUE
The US and European markets remain important export destinations for Thanh Hoa. From 2021 to 2025, export turnover to the US is expected to exceed $7.26 billion, and to Europe around $1.64 billion, mainly from textiles, footwear, handicrafts, and seafood.
The province is supporting businesses to effectively utilize new-generation Free Trade Agreements (FTAs) such as the EU-Vietnam Free Trade Agreement (EVFTA), the UK-Vietnam Free Trade Agreement (UKVFTA), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Simultaneously, it is promoting green, circular production to meet international standards, enhancing product value and competitiveness.
Google translate