Dong Nai records over US$1bn in trade surplus

June 29, 2018 | 16:08

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The southern province of Dong Nai enjoyed a trade surplus of more than US$1 billion in the first half of 2018.

dong nai records over us 1bn in trade surplus

Total export turnover of businesses in the locality exceeded US$9 billion in the first six months, while the import value was $7.95 billion.-Photo vietnamlawmagazine.vn

According to the provincial People’s Committee, the total export turnover of businesses in the locality exceeded $9 billion in the first six months, while the import value was $7.95 billion, marking year-on-year increases of 12.6 per cent and 7.12 per cent, respectively.

The province’s main export items recorded significant growth, including, garment and textiles (4.49 per cent), footwear (7.19 per cent), machinery and components (15.05 per cent), textile fibre (17.7 per cent), iron and steel products (21.6 per cent) and computer, electronic products and spare parts (37.8 per cent).

The committee attributed the growth to a stable global economy, favourable export markets, more orders from abroad and increase in export prices of several commodities.

Dong Nai’s main export markets were the United States, the European Union, South Korea, China and Japan.

Meanwhile, businesses in the province mainly imported products from China, South Korea and Taiwan (China), which accounted for 50 per cent of its import turnover. The locality mainly imported fabric, fibre, footwear, chemicals and iron and steel.

To achieve the target of $18.3 billion in export turnover this year, the province will intensify assistance to businesses, especially small- and medium-sized enterprises and start-ups, as well as build a mechanism to encourage businesses to invest in rural agriculture.

Efforts will also be made to improve the investment environment, speed up administrative reforms and create favourable conditions to promote products and trademark and raise the export value, particularly of agricultural products.

VNA

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