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Dong Nai posts US$1.4 billion trade surplus in 8 months Print
Wednesday, 06 September 2017 19:28

VIETRADE – The southern province of Dong Nai recorded a trade surplus of approximately US$1.4 billion in the first eight months of the year, according to the provincial Statistics Office.

During the period, the province exported nearly US$11 billion worth of products, a year-on-year increase of 11% while its imports hit approximately US$9.6 billion.


The eight month’s trade surplus was mainly contributed by major export items which posted positive export revenue such as footwear with US$1.9 billion, up 9.4%; textile and garment with over US$1 billion, up 8.2% and wooden goods with US$722 million, up 12.3%.


The provincial People’s Committee said that the footwear sector has witnessed the highest export revenue over past years as foreign-invested companies, which have made great contribution to the provincial footwear export value, have enjoyed sound and stable growth.


These firms are committed to raise production capacity to meet orders from the world’s big footwear brands in the coming time, the committee said.

Meanwhile, local timber product exporters have sought new markets while taking advantage of the free trade agreements signed with the Republic of Korea and Japan to accelerate their exports.

During the above-mentioned items, several other products also experienced significant export growth including fiber with US$795 million, up 25.6%; machines and equipment with US$670 million, up 23%, computers and electronics with US$318 million, up 23%.

From January to August, the United States was the largest importers of the provincial goods with revenue of US$2.54 billion. China and Japan came second and third with US$944 million and US$934 million, respectively.  Several others included the Republic of Korea, Hong Kong, Belgium and Germany with revenue from US$300 million to US$600 million.


Provincial leaders said that they will continue to support local enterprises to organize domestic and overseas trade promotion activities, a move to help the firms seek new customers and business opportunities.


The province will also make effort in connecting enterprises involved in supporting industries with manufacturers so that they can supply raw materials and auxiliary materials to reduce dependence on imports and to enjoy tax incentives when exporting to markets which Vietnam have signed free trade agreements.


Measures to improve the provincial investment environment will be also included with the aim to facilitate businesses.


In 2016, Dong Nai posted a record trade surplus of US$2.1 billion, becoming one of top four localities with the highest trade surplus. Last year, the province earned US$15.2 billion from exports while its imports topped US$13.1 billion.


Footwear posted the strongest export value at US$3.14 billion, accounting for one fifth of the province’s total export turnover. It was followed by textile and garment at US$1.7 billion, wooden furniture at nearly US$1.2 billion and fiber at US$1.2 billion./. 


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