Binh Duong posts US$3.4 billion in trade surplus

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.