VN surpasses Hong Kong in port throughput
VN surpasses Hong Kong in port throughput
Viet Nam’s container throughput surpassed Hong Kong’s in the first half of this year, possibly in part due to trade diversion amid the trade war between China and the US, reported the Chinese news site Caixin Global.
According to the data from Hong Kong Maritime and Port Board, in the first half of 2019, Hong Kong saw a container throughput of 9.06 million twenty-foot equivalent units (TEUs), a year-on-year decrease of 8.1 per cent.
Data from the Vietnam Maritime Administration showed that from January to June, Viet Nam recorded 9.1 million TEUs in container throughput, up 3 per cent compared to the same period last year.
In the first four months of 2019, the total value of Viet Nam’s goods exports rose 6.5 per cent year-on-year, according to the General Department of Vietnam Customs.
Viet Nam’s role as a “transfer terminal” contributed largely to the country’s strong export growth, Shen Jianguang, JD Digits’ chief economist, said in a note on Caixin Global.
As of June, Hong Kong had seen year-on-year declines in throughput volume for 17 consecutive months, and saw the sharpest fall of 17.9 per cent in February, Caixin Global reported.
