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VietNamNews

Đồng Nai’s export surplus half of country’s total

Update: July, 31/2018 - 09:00
Đồng Nai’s export surplus in the first seven months of the year was $1.6 billion. The province is among the countries’ top five exporters. – Photo baodongnai.com.vn
Viet Nam News

ĐỒNG NAI — Đồng Nai’s export surplus in the first seven months of the year was US$1.6 billion, which made up half of the country’s total.

Đồng Nai is among the country’s top five exporting cities and provinces, with a consistently high export surplus, according to the province’s Department of Industry and Trade.

The province has around 50 products with high export turnover, including textiles and garments, footwear, wooden products, and steel, exported to around 170 countries and territories. The products are highly regarded by foreign businesses.

According to the Statistics Office of Đồng Nai, it exported around $9.2 billion worth of goods in the first seven months, 14 per cent higher year-on-year and its highest in four years.

Eighty per cent of Đồng Nai’s export turnover is from foreign-direct invested companies in the province.

Trade surplus

According to the General Statistics Office (GSO), Việt Nam gained a trade surplus of $3.1 billion in the first seven months of this year.

This is because its total export value during the first seven months rose 15.3 per cent year-on-year to $133.7 billion.

Of which, the domestic economic sector’s export value increased 18.7 per cent to $39.3 billion over the same period of last year while that of foreign invested enterprises had a growth of 14 per cent to $94.7 billion, accounting for 70.8 per cent of the total export value.

Meanwhile, the nation saw slower growth in imports with the total import value in the first seven months of this year rising 10.2 per cent to $130.6 billion against the same period of last year.

The import value rose 12.7 per cent to $54.2 billion for the domestic economic sector and 8.5 per cent to $76.5 billion for the foreign invested enterprises.

However, GSO experts said from May to July, the nation had trade deficit in each month. The trade deficit was $500 million in May, $100 million in June and $300 million in July.

Việt Nam had large trade deficit with China and South Korea. In the first seven months of this year, the trade deficit was at $16.3 billion with China, up 1.6 per cent year-on-year, and at $16.3 billion with South Korea, which was down 13 per cent.

The GSO reported major export products continued to achieve strong increases, in particular telephone and parts with a growth of 15.8 per cent to $26.1 billion; textile and garment, up 16.2 per cent to $16.5 billion; and electronic products, computer and parts, up 14.8 per cent to $15.7 billion.

They also included footwear, up 8.9 per cent to $9.1 billion; machine, equipment and parts, up 27.1 per cent to $9 billion; wood and wooden products, up 13.4 per cent to $4.8 billion; and transport means and parts, up 15.2 per cent to $6.4 billion.

The nation saw growth in export value for some agro and seafood products (up 8.1 per cent to $4.7 billion), vegetables and fruits (up 14.6 per cent to $2.3 billion), and rice (up 31.5 per cent to $2 billion).

However, reduction in the global export prices drove export value down for some farming products of Việt Nam, such as coffee (down 4.5 per cent to $2.2 billion), and rubber (down 9.7 per cent to $1 billion).

Crude oil export dropped in both volume and value by 46.4 per cent and 25.3 per cent to $1.3 billion, respectively. — VNS

 

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