One of the fastest recovering economies in the pandemic, Vietnam’s export growth is pulling away from Shenzhen for the third year, after surpassing it for the first time in 2020.
According to data released on April 8 by Vietnam’s bureau of statistics, the country’s total export value for the first quarter of 2022 rose to $88.58 billion, up 12.9 percent, indicating Vietnam’s upward trend in exports.
It surpassed China’s strongest city Shenzhen in exports by 30 percent. In the first quarter of 2022, Shenzhen’s exports dropped to 407.66 billion yuan ($61.68 billion), down 2.6 percent year-on-year as shown by Chinese official data.
Shenzhen is one of the richest cities in China with its exports topping all Chinese cities for decades.
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