In August 2011, exportation of enterprises in Binh Duong Province is relatively good while the import revenue is increasing at nearly double the speed of exportation growth.

Textile maintains top place

As announced by Binh Duong Department of Industry and Trade, in August 2011, export revenue is calculated to reach USD 937.7 million; however, domestic investment sector is valued by half of foreign investment sector for earning USD 158.4 million and USD 779.2 million respectively. In July the revenue of exportation was totally USD 1 billion. Throughout the months, textile is always in the first place of exportation revenue by earning USD 123 million in August, runners-up are woodwork, shoes, and others.

The exportation is made mainly to traditional markets of China, Europe, Japan, USA, and ASEAN region.

According to exporting enterprises, they are hit by inflation and increasing credit interest rates which caused labor payments to increase while employment to decline. Thus, they called for effective and timely State’s policies to control inflation and interest rates.

Price hike pushes importation increases

In August, importation revenue is at USD 830.2 million or 7.1% higher than July’s. Such increase in imporation revenue override imporation revenue which increased only by 3.6% from July.

Meanwhile, Ministry of Industry and Trade asserted that textile production is slowing down due to fluctuation of price of natural-based materials. By the end of July, cotton production only grows by 1.4%.

Leather for shoes making is rather stable in price but still sees mild increase due to sub-material price hike. As for paper sector, the production is increasing for academic years are opening. as far as prices and quantity of importation increases are concerned, Ministry of Industry and Trade put it that goods serving production and consumption are increasing, influencing import revenue in July and August is no exception.

Reported by K. Tan – Translated by Vi Bao