Key industries get over difficulties

Update: 03-07-2021 | 07:23:40

In the first 6 months of 2021, despite facing many difficulties and challenges due to the negative impact of the Covid-19 epidemic, with the continually drastic and timely implementation of many policies and solutions to overcoming difficulties to promote production and business as well as the efforts of the business community to overcome difficulties, Binh Duong's import and export activities continued to grow at a high rate.

Production is on-going at Dafi Co. Ltd. in Tan Uyen town

High growth

In the first 6 months of 2021, the province's socio-economic development has developed stably while industrial production and trade have gradually grown again, especially the processing and manufacturing industry. Import and export activities have achieved high growth over the same period with a trade surplus of more than USD 3.75 billion. In which, the domestically invested economic sector had a trade surplus of USD 1.43 billion while the foreign-invested sector had a trade surplus of USD 2.38 billion. The export value of goods in the first 6 months of 2021 reached more than USD 17 billion, increasing by 47.2% over the same period.

According to the assessment of the leaders of Department of Industry and Trade, in the US and European countries that are gradually or completely lifting the blockade orders, the demand for goods on the world market is recovering, which is an opportunity for businesses to push strongly to production and exportation of key industrial products of the province. In addition, free trade agreements are gradually being implemented in a more comprehensive and effective manner to create favorable conditions for the province's exports to penetrate into partner markets with preferential tariffs.

In particular, the provincial People's Committee has closely directed departments, branches and localities to synchronously, flexibly and effectively implement the "dual target" of preventing and controlling epidemics, protecting health people's health, and recovering and developing socio-economic situations by the best efforts to realize the goals and tasks in the first 6 months of the year and the whole year of 2021.

Open market opportunities

In the first 6 months, most of the exporting industries have increased sharply compared to the same period in 2020 such as wood products, footwear, machinery, equipment and spare parts. Besides, other commodity groups such as computers, electronics, electronic components, means of transport and spare parts, plastic products and so on have also grown well. During the Covid-19 epidemic, the Management Board of provincial industrial parks and enterprises closely cooperate with functional sectors and localities to well perform the prevention and control so that enterprises can rest assured in production and business operations.

Especially with the key industries of the province, market opportunities continue to expand. In which, the export turnover of the first 6 months of 2021 of the wood industry was estimated at more than USD 3.5 billion, increasing by 61.4% over the same period to account for 20.6% of the total export turnover of the province . Especially, since the Vietnamese - European Union Free Trade Agreement (EVFTA) officially took effect, Binh Duong wood industry has expected to expand the consumption market in EU countries. Up to now, the main export market of the wood industry is the US, which is accounted for 65.03%, increasing by 81.4% over the same period; Hong Kong 8.5%, increasing by 47.5%; Taiwan 5.6%, increasing by 43.1%; EU 4.9%, increasing by 53.495%; Japan 3.5%, increasing by 46.8%; Singapore 2.3%, increasing by 35.8%; and so on. In particular, the US market is considered to be opening up great opportunities for companies in the wood industry to break through.

The textile, garment and footwear industry in the first 6 months of 2021 has shown more positive signs than the same period last year when some major export markets gradually recovered and took advantage of opportunities from FTAs such as the US, EU, Japan, and Korea. Export turnover in the first 6 months of 2021 of the textile and garment industry was estimated at USD 1.39 billion, increasing by 27.1% over the same period to account for 8.1% of the province's total export turnover. The main export market is Korea which is accounted for 36.5%, increasing by 41.95% over the same period, the US 25.02%, increasing by 37.72%, the EU 9.07%, increasing by 9.35%, Japan 5.43%, increasing by 9.04%, and so on. Along with that, the footwear industry also had a strong increase, estimated at more than USD 1 billion USD, increasing by 30.8% over the same period and accounting for 6.3% of total exports. The main export markets increased sharply as some markets increased by 50%. Specifically, in 6 months, the EU market was accounted for 22.6%, increasing by 41.8% over the same period, the US market 22.6%, increasing by 44.6%.

Reported by Tieu My – Translated by Vi Bao

Share

Key industries get over difficulties

HIGHLIGHTS

MOST READ