Business

Dong Nai exports reach 4.7 bln USD in four months

The southern province of Dong Nai generated more than 4.7 billion USD from exports in the past four months, up 5 percent year-on-year, according to the provincial People’s Committee.
Dong Nai exports reach 4.7 bln USD in four months ảnh 1Illustrative photo (Source: VNA)

Dong Nai (VNA) – The southern province of Dong Nai generated more than 4.7 billion USD from exports in the past four months, up 5 percent year-on-year, according to the provincial People’s Committee.

During the reviewed period, the province recorded a trade surplus of 644 million USD, making up 40 percent of the country’s total surplus.

The foreign-invested sector contributed approximately 3.9 billion USD, or 80 percent of the province’s four-month export turnover, the committee said, adding that foreign-funded enterprises have benefitted the most from the ASEAN Economic Community and free trade agreements that Vietnam inked with many countries and blocs.

Thanks to these FTAs, the inflow of foreign direct investment to the province, especially from Japan , the Republic of Korea and China , continued to increase significantly in recent years. For example, the province had attracted over 3.71 billion USD worth of Japanese investment by the end of April.

Meanwhile, the State-owned and private sectors made up over 80 million USD and 666 million USD, respectively, of the province’s total export value in four months.

Earlier this year, the provincial Department of Industry and Trade expected that the province’s export turnover is likely to enjoy a boost of 10 percent compared to 2015.

Exports of the locality’s key commodities will increase, thanks to the recovering global market, said vice director of the department Duong Minh Dung.

Last year, the US was the leading market for provincial exporters, with total goods value shipped to the market reaching over 4 billion USD, while the import turnover from the country was 1 billion USD.

It was followed by Japan , with nearly 1.3 billion USD in export turnover, and 700 million USD in import value.

The province’s export and import turnovers to six ASEAN countries, including Indonesia, Thailand, Cambodia, the Philippines, Singapore and Malaysia, hit 1.5 billion USD and 600 million USD, respectively, with main commodities being textiles, footwear, computers, electronics, wood and wooden products.-VNA

VNA
#trade surplus #foreign-invested sector #FTA #foreign direct investment Dong Nai
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