Illustrative image (Source: VNA)

Binh Duong (VNA) – The southern province of Binh Duong recorded a trade surplus of more than 1.5 billion USD in the first quarter of 2018, according to the provincial Department of Trade and Industry.

In the reviewed period, export turnover of the province reached more than 5.57 billion USD, a rise of 15.3 percent year-on-year, while imports were valued at over four billion USD, up 16.8 percent.

The high export turnover was attributable to the 10-15 percent growth of key items including wooden products, which were valued at 644 million USD, up 13.5 percent; garment-textiles products at 627 million USD, up 18 percent; and footwear at 630 million USD, up 15.1 percent.

Meanwhile, the province imported chemicals worth 202 million USD, timber and wooden products (261 million USD), fabrics (231 million USD) and garment-textile materials (345 million USD).

The freshly-signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to foster exports of Binh Duong province in the coming time.

Local businesses are advised to fulfil the requirements on product origin and devise appropriate business plans to enjoy the preferential tariffs. - VNA