Dong Nai leads in trade surplus

HCM City (VNA) - The southeastern province of Dong Nai achieved a record trade surplus of 2.17 billion USD last year, the highest recorded in the country, according to the provincial People’s Committee.

The country had a trade surplus of 2.7 billion USD last year equal to 2016.

Last year Dong Nai’s export value reached 17 billion USD, up 11.8 percent against 2016.

The retail and service revenue was 150 trillion VND (6.6 billion USD), up 12.3 percent year-on-year.

The province has more than 3,500 firms involved in import-export activities.

Duong Minh Dung, director of the province’s Industry and Trade Department, said that export markets were stable and had expanded.

This increased the province’s index of industrial production (IIP) by 8.6 percent last year, he said.

The province’s exports to traditional and large markets like the US, Japan, China and the Republic of Korea rose significantly in the first months of 2017, he said, adding that export growth had been maintained as many firms had export orders until early 2018.

Last year, the province’s gross regional domestic product (GRDP) reached a growth rate of 8 percent.

This year the province targets increasing GRDP growth by 8 percent and export growth by 9-11 percent against last year.

The province also aims to increase its IIP by 8-8.5 percent against last year.

Tran Van Vinh, deputy chairman of the provincial People’s Committee, said the province’s Department of Industry and Trade this year would boost cooperation among domestic and foreign invested companies to supply products to one another to reduce imports and increase exports.

Dong Nai has exported hundreds of varieties of products in recent years, including footwear, garments and textiles, fibres and textile threads, wooden products, computers, electronics and spare parts.

The province’s footwear, which accounts for its largest export revenue, is exported to many countries.

Large footwear firms in Dong Nai increased production in the last months of 2017 to meet export orders.

Many footwear firms now have orders until the middle of the year.

Last year exports of the fibre and textile thread group accounted for 1.4 billion USD, up nearly 24 percent against 2016. The group achieved the highest growth in the province’s five groups of products with annual export revenue of more than 1 billion USD each.  – VNA