(ĐN)- Dong Nai enjoyed a trade surplus of over US$2.6 billion in 2018, the highest level over the last years, accounting for more than 30 percent of the country's trade surplus.
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(ĐN)- Dong Nai enjoyed a trade surplus of over US$2.6 billion in 2018, the highest level over the last years, accounting for more than 30 percent of the country’s trade surplus.
Accordingly, Dong Nai’s export turnover estimated at US$18.6 billion this year, an annual rise of 12 pct, while the import turnover was US$16 billion, up 10 pct.
The province's major export products in the period included footwear, textile and garment, fiber and yarn, machineries and components, wooden products. Export values of the above five commodities totaled US$10.2 billion, contributing up to over 50 percent of the province’s total export value in 2018.
Particularly, footwear sector earned nearly US$3.7 billion from exports, the province's biggest export revenue earner in this period.
The province has consistently maintained a trade surplus over the last five years. It forecasts next year’s trade surplus at over US$2.9 billion.
According to the report, three commodities brought in more than US$1 billion in trade surplus in 2018, including footwear nearly US$2.9 billion, textiles and garments (US$1.2 billion), and wooden products (US$1.2 billion).
Dong Nai is now home to some 4,000 exporters who shipped their products to 170 countries and territories worldwide.
According to Vice Chairman Nguyen Ngoc Tuan of Dong Nai Import and Export Association, the province has increased its export turnover over the past years because local exporters know how to optimize advantages generated by free trade agreements (FTAs).
Enterprises expanded export markets, especially to countries that have committed to cutting tariffs under FTAs they have signed with Vietnam.
2019 is expected to be a good year for local exporters thanks to the expansion of markets.
Along with the growth in the traditional markets, the EU-Vietnam Free Trade Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are also forecast to help increase orders for the exporters.
The CPTPP is expected to provide a push for Vietnam in general and Dong Nai in particular to further improve the business climate to optimize opportunities brought by the deal.
Experts said the CPTPP will give local exporters better access to large markets in the Asia-Pacific, thus helping the province diversify their import-export markets. Moreover, the lifting of more than 90 percent of import tariffs in CPTPP member markets immediately after the deal took effect will open up opportunities for local goods to enter new markets.
Reported by K.M
