Binh Duong further reaches trade surplus

Update: 23-10-2017 | 11:04:26

In recent years, Binh Duong has continuously reached high trade surplus and been among top five localities in trade surplus.

9-month trade surplus at US$4.8billion

Along with a breakthrough in industrial development, Binh Duong continuously obtained high trade surplus over the past 10 years. The province’s trade surplus in 2016 was US$3.8billion. In the first nine months of 2017, the figure was US$4.8billion.

Woodwork products for export being processed at Sadaco Company in Thuan An town

The province’s main export products continued gaining high growth. Particularly, the province’s total export turnover of woodwork industry was more than US$3billion, up 19.1%; garment-textile with US$2.4billion, up 16.3%; footwear with more than US$1.91billion, up 18.8%; pottery with US$131.5million, up 8.6%; rubber latex with 145,443 tons, up 9.8% compared to the same period last year…

Nguyen Van Danh, Director of provincial Department of Industry and Trade (DoIT) said that provincial DoIT has actively supported enterprises to get involved in trade promotion; helped them opportunely remove their obstacles in production and business…, thereby contributing to constantly increasing the local trade surplus since early this year.

Maintaining growth

Phan Van Xo, Chairman of provincial Exporters Association said that Binh Duong is one of the country’s active localities in administrative reform. This has brought enterprises opportunities to develop their production-business activities, thereby surging the local export turnover.

In recent years, industries of woodwork, garment-textile, footwear, electronics…have brought the province more than US$10billion in annual export value. Province-based enterprises have also constantly innovated production technologies, improved management efficiency, saved production costs, increased the value of goods for better competitiveness. This is also a main factory for Binh Duong to be among the country’s top five localities in trade surplus value.

Vietnam’s main goods markets are recovering strongly. Along with this, positive impacts from multiple and bilateral trade agreements have helped domestic enterprises in general and ones in Binh Duong in particular increase their production activities. Hence, the province’s export value is expected to further surge from now till year-end.

According to experts, the province’s export turnover in the remaining 3 months of 2017 will continue gaining high growth, due to the world’s demand for goods consumption on sharp increase. It is predicted that the province’s export turnover this year is likely to surpass more than US$28billion.

Reported by Khanh Vinh-Translated by K.T

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Binh Duong further reaches trade surplus

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