Illustrative image (Source: VNA)
The export turnover of enterprises operating in the southern province of Dong Nai in the first five months of 2019 hit 7.7 billion USD, representing a year-on-year rise of 3.41 percent, according to the provincial Department of Industry and Trade.
In May alone, the total export turnover of local firms reached 1.69 billion USD, 9.84 percent higher than that of the previous month, and up 1.56 percent compared to the same period of 2018.
Import and export activities in Dong Nai are mainly from foreign-invested enterprises, accounting for 85 percent of the province's total import and export value.
In the first months of 2019, a number of key exporters of leather, textiles and mechanical products reported slower growth as compared to 2018.
The department attributed the locality’s slowly increased export turnover in the period to impacts from trade protection policies of many countries around the world.
Director of the department Duong Minh Dung said the US-China trade war has caused countries in the region to build tariff barriers to protect their domestic goods, and minimize imports, thus affecting Vietnam's exports.
The provincial Association of Exporters said orders from now to the end of the year of large enterprises operating in the leather and shoe industry in Dong Nai decreased from 10-15 percent, while those in the garment industry dropped by 7 percent.
Meanwhile, local producers of wood and wood products in Dong Nai reported that they received orders until the end of 2019 but their partners are asking for discounts, adding that this causes many difficulties for them as the prices of electricity and gasoline have increased, raising production costs.
Although Dong Nai’s export turnover in the first five months increased slowly, the locality still enjoyed a trade surplus of 1.2 billion USD.
The locality’s export turnover is still expected to reach over 20 billion USD, with a trade surplus of 2.6 billion USD./.