Dong Nai records US$1.4 billion trade surplus in eight months

Sunday, 2017-09-03 21:33:10
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The trade surplus is contributed by key staples like footwear, garments and wooden furniture
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NDO/VNA – The southern province of Dong Nai enjoyed a trade surplus of nearly US$1.4 billion in the first eight months of the year, according to the provincial Statistics Office.

In the eight-month period, the province shipped nearly US$11 billion worth of products to foreign countries, a year-on-year increase of 11%.

The trade surplus was contributed by key staples like footwear (US$1.9 billion, up 9.4%), garments (over US$1 billion, up 8.2%) and wooden furniture (US$722 million, up 12.3%).

The provincial People’s Committee noted that the footwear sector has witnessed the highest export turnover in the past years. Foreign direct investment (FDI) companies like Changsin, TaekwangVina and Pouchen have enjoyed sound and stable growth. They are committed to raising production capacity to meet orders from the world’s big footwear brands in the coming time.

Despite facing fierce competition with Chinese, Indian and Bangladeshi enterprises, Vietnamese garment businesses still ensure stable orders thanks to their prestige and product quality.

Regarding wooden products, numerous firms have sought new markets while taking advantage of the free trade agreements signed with the Republic of Korea and Japan to boost their exports.

Meanwhile, several products saw high export growth like fibre (US$795 million, up 25.6%), machines and equipment (US$670 million, up22.9 %), computers and electronic products (US$318 million, up 22.8%).

High export prices of agricultural products also contributed to the province’s export revenue.

The largest importers of Dong Nai goods in the period were the US, with revenue of US$2.54 billion, China with US$944 million and Japan with US$934 million.