Dong Nai posts trade surplus of $1.62 bil in Jan-Feb

(ĐN)- In the first two months of this year, Dong Nai posted a trade surplus of nearly USD 1.62 billion, surpassing Vietnam’s overall surplus of USD 1.47 billion in the same period. Over the past decade, Dong Nai’s trade balance has consistently been in surplus, increasing year by year—a testament to the province’s effective investment attraction strategies.

The province has successfully drawn numerous foreign direct investment (FDI) enterprises into projects focused on supporting industries. It has also fostered strong inter-business connections within the same sectors to encourage local supply chains, reduce reliance on imports, and improve product localization rates. As a result, the trade surplus has seen steady and substantial growth.

In 2022, Dong Nai recorded a surplus of approximately USD 5.7 billion, which rose to USD 5.93 billion in 2023 and reached USD 6.7 billion in 2024. The trade surplus is projected to exceed USD 9.7 billion this year.

For the past five to six years, Dong Nai’s export growth has consistently outpaced import growth. The province mainly imports raw materials for industrial production, such as chemicals, plastics, fabric, fiber, cotton, leather, and steel, with China and South Korea as the primary sources.

More than 80 percent of Dong Nai’s industrial products are exported to over 180 countries and territories. Around two-thirds of these exported goods belong to supporting industries that serve other manufacturing sectors. However, there are instances where products exported by Dong Nai firms are later re-imported by other Vietnamese businesses. This inefficiency stems from a disconnect between supply and demand, leading to unnecessary time loss and additional costs.

To address this issue, stronger supply-demand linkages between businesses in Dong Nai and those across the country are essential. Enhancing these connections would reduce import needs, improve product localization, and further increase the trade surplus.

While support from associations, local governments, and ministries is important, businesses themselves should pay closer attention to the domestic market, which currently holds significant demand. The “symbiotic cooperation” model, widely embraced by enterprises in developed nations, has proven to be highly effective in both production and business operations.

Reported by K.M