Dong Nai province posts 500 million USD in trade surplus

Dong Nai (VNA) – The southern province of Dong Nai recorded a trade surplus of 500 million USD in the first two months of 2019, according to the provincial Department of Industry and Trade.

This surplus is the result of nearly 3 billion USD in exports, up 10.79 percent year-on-year, and 2.5 billion USD in imports during the period.

Several key commodities enjoyed fast export growth compared to the same period last year, including footwear (up 22.97 percent); garment-textiles (31.14 percent); timber products (38 percent); and machinery, equipment, and spare parts (31.61 percent).

The department attributed the export revenue increase to the fact that local businesses have actively made use of chances created by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which officially took effect on January 14 this year, to sign orders. Many of them are producers of big foreign currency earners like footwear, garment-textiles, electronic products, machinery and equipment, wood products, coffee, fruits, peppercorn, and cashew.

Additionally, Dong Nai has carried out sound trade promotion activities in recent years, encouraging foreign invested and domestic firms to actively partner with one another to ensure domestic material supply and reduce the import of raw materials, the department said.

The province’s export revenue is forecast to keep rising fast in March, when businesses fully resume normal production activities after a long Lunar New Year holiday in early February.

Dong Nai is part of Vietnam’s southern key economic region, which also covers Ho Chi Minh City and the provinces of Tay Ninh, Binh Phuoc, Binh Duong, Ba Ria-Vung Tau, Long An, and Tien Giang. –VNA