Binh Duong expects trade surplus

Saturday, Nov 23, 2013 09:06

Kirin Acecook Viet Nam Co Ltd produces bottled soft drinks and juice in the southern province of Binh Duong. —VNA/VNS Photo Thanh Vu

HA NOI (Biz Hub)— The southern province of Binh Duong is expected to post a trade surplus of US$2.86 billion in 2013, according to the provincial People's Committee.

By the year-end, Binh Duong hopes to gain an export value of over $14.44 billion, up 15.7 per cent annually, with the foreign-invested sector making up 81.3 per cent of the total.

Its imports are forecast to reach $11.58 billion, with raw materials for production as well as machinery and equipment adding to a year-on-year increase of 16.5 per cent.

The head of the Binh Duong Importers and Exporters Club, Pham Van Xo, said the club's 156 members had all signed export contracts until the end of the year, and the apparel, leather and footwear industries had received large orders for cheap, high quality goods.

Enterprises must cut production costs, apply modern technology and employ qualified staff to increase profits, Xo said.

This year, local leather and footwear enterprises had been producing good designs and applying modern technology in production and management to reduce risks, he said.

Binh Duong's Department of Industry and Trade revealed that the locality had exported $9 billion worth of goods over the first nine months of this year, surging 15.6 per cent year-on-year.

Department Director Vo Van Cu attributed the performance to stable foreign exchange rates and falling material prices and interest rates, as well as recovering foreign markets such as the US, the EU and Japan.

During the reviewed period, the province's imports saw a yearly increase of 16.5 per cent to $7.8 billion, resulting in a trade surplus of $1.2 billion. — VNS

Comments (0)