Illustrative image (Source: VNA)
The southern province of Binh Duong recorded a trade surplus of over 4.5 billion USD in the first eight months of 2019, according to Director of the provincial Department of Industry and Trade Nguyen Van Danh.
The signing of the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) is expected to open up numerous export opportunities for businesses, he said.
He noted that the province’s export turnover exceeded 17.5 billion USD in January-August, a year-on-year rise of 13 percent. Of the value, the foreign economic sector contributed over 14.3 billion USD (up 14.7 percent) and the remainder by the domestic one (up 6.5 percent).
Among the local key export commodities, the timber and goods sectors took the lead with the export turnover of over 2 billion USD, a yearly rise of 15 percent.
In the eight-month period, the province imported 12.9 billion USD worth of goods, up 7.1 percent, mainly phones and spare parts; computers, electronic products and components; garment-textile material and footwear; wood and timber products; and chemical products.
In 2019, Binh Duong strives to record a year-on-year export growth of 15.5 percent./.