Binh Duong records trade surplus of over US$1.5 bln in Q1
The southern province of Binh Duong recorded a trade surplus of more than US$1.5 billion in the first quarter of 2018, according to the provincial Department of Trade and Industry.
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In the reviewed period, export turnover of the province reached more than US$5.57 billion, a rise of 15.3% year-on-year, while imports were valued at over US$4 billion, up 16.8%.
The high export turnover was attributable to the 10-15% growth of key items including wooden products, which were valued at US$644 million, up 13.5%; garment-textiles products at US$627 million, up 18%; and footwear at US$630 million, up 15.1%.
Meanwhile, the province imported chemicals worth US$202 million, timber and wooden products (US$261 million), fabrics (US$231 million) and garment-textile materials (US$345 million).
The freshly-signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to foster exports of Binh Duong province in the coming time.
Local businesses are advised to fulfil the requirements on product origin and devise appropriate business plans to enjoy the preferential tariffs.
