Binh Duong posts US$3.4 billion in trade surplus

by NDO09 October 2016 Last updated at 14:00 PM

A bird's-eye view of Vietnam Singapore Industrial Park (VSIP) in Binh Duong.
A bird's-eye view of Vietnam Singapore Industrial Park (VSIP) in Binh Duong.

VTV.vn - The southern province of Binh Duong ran a trade surplus of more than US$3.4 billion in the past nine months, a record level for the period in recent years, Director of the provincial Department of Industry and Trade Vo Van Cu said.

During this period, Binh Duong shipped abroad more than US$16.3 billion worth of goods, up 16.2% annually, or 12.7% of the country’s total exports.

Of the figure, over US$3.12 billion was contributed by domestic firms, up 10.5% while the remainder was from the foreign-invested sector, marking a 17.6% increase.

Of 23 key exports, wooden furniture, apparel, footwear, phones and spare parts each earned more than US$1 billion.

Huynh Quang Thanh, Chairman of the provincial Wood Processing Association, said total wood exports had hit US$2.7 billion so far, a 10% rise year on year and making up nearly 20% of the province’s total.

Binh Duong is currently home to 500 wood processors and exporters, 70% of them are domestic ones, 5% are State-owned enterprises and the remainder are foreign-invested.

In the January–September period, the province spent more than US$12.8 billion on imports, up 16.1% annually and equivalent to 10.2% of the country’s total.

 

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