Binh Duong records trade surplus of over $1.5b
Binh Duong records trade surplus of over $1.5b
The southern province of Binh Duong recorded a trade surplus of more than US$1.5 billion in the first quarter of 2018, according to the provincial Department of Industry and Trade.
In the reviewed period, the export turnover of the province reached more than $5.57 billion, an increase of 15.3 percent year-on-year, while imports were valued at over $4 billion, up 16.8 per cent.
The high export turnover was attributable to the 10-15 per cent growth of key items, including wooden products, which were valued at $644 million, up 13.5 per cent; garment-textiles products at $627 million, up 18 per cent; and footwear at $630 million, up 15.1 per cent.
Meanwhile, the province imported chemicals worth $202 million, timber and wooden products ($261 million), fabrics ($231 million) and garment-textile materials ($345 million).
The freshly signed Comprehensive and Progressive Agreement for the Trans-Pacific Partnership is expected to foster exports from Binh Duong Province in the coming period.
Local businesses are advised to fulfil the requirements on product origin and devise appropriate business plans to enjoy the preferential tariffs.
