Bình Dương posts $10 billion in trade surplus this year
Bình Dương posts $10 billion in trade surplus this year
Bình Dương Province is projected to achieve a record trade surplus of US$10 billion this year, reaffirming its role as a leading economic hub in southern Việt Nam.
Thạnh Phước Port, Bình Dương Province. the southern province is projected to achieve a record trade surplus of US$10 billion this year. — VNA/VNS Photo Huyền Trang |
According to the provincial Department of Industry and Trade, the province will rake in an estimated $34.5 billion from exports, up 12.7 per cent year-on-year, and spend some $24.5 billion on imports, an increase of 12.2 per cent compared with last year’s figure.
Exports from Bình Dương currently account for over 10 per cent of Việt Nam’s total export value. Six key products, namely wood and wood products, textiles, footwear, steel, and electronics, contributed $19.3 billion, making up 56.2 per cent of the province’s total export value. Notably, wood export value rose by 17.6 per cent to $6.5 billion, while textile export increased by 15.1 per cent, reaching $3.2 billion.
According to Nguyễn Thanh Toàn, Director of the provincial Department of Industry and Trade, the $10-billion trade surplus reflects the resilience and adaptability of local businesses. He said enterprises have effectively utilised free trade agreements to expand markets, particularly in the US, EU, Japan, and China.
Tòan said that in the coming time, the department will foster trade connections and provide timely information to industries and businesses through regular Ministry of Industry and Trade meetings to boost exports. It will also explore new markets, such as Halal markets, to broaden opportunities for local goods.
Chairman of the Bình Dương People’s Committee Võ Văn Minh attributed the record trade surplus to close cooperation between local authorities and the business community. Moving forward, the province plans to invest heavily in industrial infrastructure, digital transformation, and supportive policies to sustain growth in 2025.
It will focus on developing trade and logistics infrastructure and improving transportation networks, particularly those connecting ports and industrial zones, aiming to create favourable conditions for businesses to maintain production and exports.
Businesses will be encouraged to adopt digital transformation, smart manufacturing, and supply chain automation to enhance productivity and product quality. Bình Dương plans to invest in high-quality workforce training, provide financial support, and offer consulting on legal regulations in potential export markets, the official said.
