Dong Nai post $300m trade surplus

Monday, Jan 28, 2019 19:09

Producing clothes at Dong Nai Garment SJC. Dong Nai enjoyed a trade surplus of $300 million in January. — Photo

Dong Nai Province has maintained its positive trade growth with estimated surplus of US$300 million in January, the province’s Department of Industry and Trade reported.

The southern province has exported $1.73 billion in the first month of 2019, representing an increase of 6.74 per cent against the same period of last year. Its import value is expected at $1.43 billion.

The key export products included footwear, textiles, furniture, machinery, electronic devices and agricultural products, of which wooden products recorded the highest growth of 35.8 per cent, followed by transport vehicles and spare parts, machinery and footwear with growth of between 15 and 18 per cent.

For imports, key inputs for manufacturing like textile fibres, pesticides, animal feed and raw materials were among the products that saw the highest import growth – of between 14.8 and 25.6 per cent.

According to the province’s Department of Industry and Trade, local enterprises have been actively seeking new markets and taking advantage of the free trade agreements that Viet Nam has signed with other countries to boost exports.

However, foreign-invested enterprises are still dominating local export turnover, with an export value of $1.45 billion, accounting for 84 per cent of total local export value. The state economic sector contributed just $278 million to local exports.

Dong Nai has maintained a trade surplus from 2014. According to Dinh Quoc Thai, chairman of the province’s People’s Committee, such success has been attributed to the province’s strong administrative reforms and regular dialogue with the province’s leaders with businesses to facilitate their doing business in the locality.

In 2018, Dong Nai enjoyed a trade surplus of $2.6 billion, equivalent to 30 per cent of the country’s trade surplus. The province has targeted export growth of 10-12 per cent this year. – VNS

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