17.6 thousand businesses withdraw from the market every month

Specifically, in May, the country had more than 12,000 newly established enterprises, down 24.2% compared to the previous month and down 9.5% compared to the same period last year. In addition, there were 5,952 enterprises returning to operation.

On the contrary, in May, 5,364 enterprises registered to temporarily suspend business for a period of time, 4,717 enterprises stopped operations pending dissolution procedures, and 1,223 enterprises completed dissolution procedures.

Thus, in the first 5 months of 2023, the whole country had 95 thousand newly registered enterprises and returned to operation. On average, 19 thousand newly established enterprises returned to operation per month.

However, the number of enterprises withdrawing from the market was 88 thousand enterprises, an increase of 22.6% over the same period last year. On average, 17.6 thousand enterprises withdrew from the market per month.

17.6 thousand businesses withdraw from the market every month - 1 — In the first 5 months of 2023, 88,000 enterprises nationwide withdrew from the market, an increase of 22.6% over the same period last year. (Illustration photo: Ministry of Industry and Trade)

Regarding industrial production, the index of industrial production (IIP) for the whole industry in May 2023 is estimated to increase by 2.2% over the previous month and increase by 0.1% over the same period last year. This index increased in 49 localities and decreased in 14 localities.

In May, the monthly export turnover of goods is estimated at 29.05 billion USD. In the first 5 months of 2023, the total export turnover of goods is estimated at 136.17 billion USD.

Meanwhile, the import turnover of goods in May 2023 is estimated at 26.81 billion USD. In the first 5 months of the year, the import turnover of goods is estimated at 126.37 billion USD.

The US is currently Vietnam's largest export market with an estimated turnover of 37.2 billion USD. China is Vietnam's largest import market with an estimated turnover of 43.4 billion USD.

The trade balance of goods in the first 5 months of the year is estimated to have a trade surplus of 9.8 billion USD (in the same period last year, the trade surplus was 0.24 billion USD).

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