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Đồng Nai leads in trade surplus

Update: January, 16/2018 - 09:00
Footwear production at a company in Đồng Nai Province. – Photo baodongnai.com.vn
Viet Nam News

HCM CITY – The southeastern province of Đồng Nai achieved a record trade surplus of US$2.17 billion 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 last year equal to 2016.

Last year Đồng Nai’s export value reached $17 billion, up 11.8 per cent against 2016.

The retail and service revenue was VNĐ150 trillion ($6.6 billion), up 12.3 per cent year-on-year.

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

Dương Minh Dũng, 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 per cent last year, he said.

The province’s exports to traditional and large markets like the US, Japan, China and South 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 per cent.

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

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

Trần Văn Vĩnh, 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.

Đồng 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 Đồng 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, up nearly 24 per cent 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 each.  – VNS

 

 

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