09:59 | 22/06/2015 Trade
The southern province of Binh Duong recorded a trade surplus of approximately US$1.1 billion in the first six months of this year, according to the provincial Statistics Office.
Work in progress at the Esquel Garment Manufacturing Viet Nam Company in the southern province of Binh Duong. The province recorded a trade surplus of approximately US$1.1 billion in the first six months of this year. — VNA/VNS Photo Thanh Vu
During the reviewed period, the province gained more than $8.5 billion from exports, up 16.6 per cent against the same period last year, with $7.2 billion contributed by the foreign-invested sector and $1.5 billion by the domestically invested sector.
Among its major exports, wooden furniture raked in $1.7 billion in exports, a year-on-year rise of 15.4 per cent and accounting for 12.6 per cent of the provincial total export turnover, while garment exports experienced a yearly increase of 11.2 per cent to $904 million, fuelled by the positive influences of free trade deals signed with South Korea and the Eurasian Economic Union (EEU).
Export revenue growth was also recorded in footwear ($741 million, up 16.4 per cent) and ceramic products (nearly $51 million, up 6.6 per cent).
During the January-June period, the province's imports topped $7.4 billion, surging 16.9 per cent from the same period in 2014. Of the amount, nearly $6 billion was spent on the imports of foreign-invested sector; the import value of the domestic economic sector was nearly $1.5 billion.
In the first three months alone, the province exported goods worth $4.22 billion, an annual increase of 15.6 per cent, while its imports hit $3.63 billion, a 15.5 per cent rise compared to last year's corresponding period. That resulted in a trade surplus of $591 million.
According to Binh Duong People's Committee, the State initiatives to clear business hurdles took effect in Q1, with enterprises recording strong and stable operations./.