The southern province of Binh Duong saw a 2.2 billion USD trade surplus in the first nine months of this year, up 15.6 percent against the same period last year, and the figure is expected to rise further in the time to come.
According to Vo Van Cu, Director of the provincial Department of Industry and Trade, recent harsh years have pushed forward businesses’ production restructuring, leading to increasing export value and an inevitable export surplus.
Local businesses have taken steps towards more stable and sustainable development thanks to a steady exchange rate and inflation, reduced interest rates and falling costs of imported materials, the department said.
The recovery of major importers such as the US, EU, Japan, Australia, Brazil, Argentina and the Middle East along with the positive impacts of the Trans-Pacific Partnership Agreement (TPP) negotiations have raised their export orders by 10-15 percent compared with last year’s corresponding period.
However, the decisive factor behind the surplus is the businesses’ efforts to reduce expenditure, said Phan Van Xo, President of the Binh Duong Association for Exporters.-VNA
According to Vo Van Cu, Director of the provincial Department of Industry and Trade, recent harsh years have pushed forward businesses’ production restructuring, leading to increasing export value and an inevitable export surplus.
Local businesses have taken steps towards more stable and sustainable development thanks to a steady exchange rate and inflation, reduced interest rates and falling costs of imported materials, the department said.
The recovery of major importers such as the US, EU, Japan, Australia, Brazil, Argentina and the Middle East along with the positive impacts of the Trans-Pacific Partnership Agreement (TPP) negotiations have raised their export orders by 10-15 percent compared with last year’s corresponding period.
However, the decisive factor behind the surplus is the businesses’ efforts to reduce expenditure, said Phan Van Xo, President of the Binh Duong Association for Exporters.-VNA
