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Dong Nai records 1.4 billion USD trade surplus in eight months

Dong Nai, September 3 (VNA) – The southern province of Dong Nai enjoyed a trade surplus of nearly 1.4 billion USD in the first eight months of the year, according to the provincial Statistics Office. 

In the eight-month period, the province shipped nearly 11 billion USD worth of products to foreign countries, a year-on-year increase of 11 percent. 

The trade surplus was contributed by key staples like footwear (1.9 billion USD, up 9.4 percent), garments (over 1 billion USD, up 8.2 percent) and wooden furniture (722 million USD, up 12.3 percent). 

The provincial People’s Committee said that the footwear sector has witnessed the highest export turnover in the past years. Foreign direct investment (FDI) companies like Changsin, Taekwang Vina and Pouchen have enjoyed sound and stable growth. They are committing to raising production capacity to meet orders from the world’s big footwear brands in the coming time. 

Despite facing fierce competition with Chinese, Indian and Bangladeshi enterprises, Vietnamese garment businesses still ensure stable orders thanks to their prestige and product quality. 

Regarding wooden products, numerous firms have sought new markets while taking advantage of the free trade agreements signed with the Republic of Korea and Japan to boost their exports. 

Meanwhile, several products saw high export growth like fibre (795 million USD, up 25.6 percent), machines and equipment (670 million USD, up 22.9 percent), computers and electronic products (318 million USD, up 22.8 percent). 

High export prices of agricultural products also contributed to the province’s export revenue. 

The largest importers of Dong Nai goods in the period were the US with revenue of 2.54 billion USD, China with 944 million USD and Japan with 934 million USD.