Binh Duong posts over 9 billion USD in trade surplus in 2022

Binh Duong (VNA) – The southern industrial province of Binh Duong records a trade surplus of 9.1 billion USD this year, according to the provincial Statistics Office.

Head of the office Ngo Van Mit said despite unpredictable and complex developments in the economic and political situation in the world and the region, Binh Duong has seen good economic recovery, fulfilling 30 out of 34 yearly targets.

The average per capita GRDP of the province reached 166 million VND (more than 7,027 USD at current exchange rate) this year. The province collected an estimated 61.9 trillion VND for the State budget, equivalent to 91.4% of estimates.

A total 6,235 new enterprises were established in Binh Duong during the year, with total capital of 40.1 trillion VND. Foreign investors also poured 3.1 billion USD into the province as of December 15, a 48.8% increase year on year.

As for outstanding problems in the local economy, exports and industrial production have shown signs of slowing down in the second half of the year.

In the first half of the year, most socio-economic indicators of the province showed high growth rates compared to the same period last year. However, many difficulties arose in the second half. Exports were heavily affected, with export value dropping significantly from a monthly 3.3 – 3.4 billion USD in the first six months to 2.9 billion USD in July and further to 2.5 billion in November.  

Industrial production and exports are expected to face more difficulties in the first quarter of 2023 and beyond.

Besides, the disbursement of public investment capital in the province only reached 45.8% of the yearly plan as of the end of November.

Next year, the province will promote growth on the back of digital transformation and digital economy. Given the local strength in industrial production, Binh Duong will continue to consider industry its main economic driver, aiming for a 8.9% increase in the index of industrial production in 2023./.