February exports provide positive signal in Binh Duong province
The southern industrial hub of Binh Duong has seen a recovery in exporting activities with many major exports seeing increases in revenue in February after a slump in orders in the first month of the year, according to the provincial Department of Industry and Trade.
Binh Duong(VNA) – The southern industrial hub of Binh Duong has seen a recovery inexporting activities with many major exports seeing increases in revenue in February after a slump in orders in the first month of the year, according to the provincial Department of Industryand Trade.
The department saidthat in February, the province recorded a surge of 91% in the export of woodand wooden furniture, 33% in garments, 28% in electronic accessories, and over30% in automobile spare parts.
In the month, thelocality posted a 42.7% increase in export revenue over January and 25.7% year onyear.
The domestic sector earned497 million USD, 46.2% month on month and 26.5% year on year, while that of theforeign-invested sector was 2.1%, a year-on-year rise of 25.5%.
According to the provincialStatistics Office, despite the February rise, Binh Duong still saw a year-on-yeardecrease of 18.7% in export revenue in the first two months of this year.
The US was still the largestexport market of Binh Duong in the January-February period with nearly 1.5billion USD, accounting for 32.2% of the province’s total export revenue.
A downturn was also seenin other traditional markets such as the EU (21.4%), Japan (6.1%), and the Republicof Korea (20.8%).
According to the BinhDuong Association of Exporters, in the beginning of the year, a shortage of ordersdue to a global recession, coupled with a long Lunar New Yearholiday and high interest rates, hurt production andexport activities of local firms.
However, localexporters have seen a recovery in orders and received great support from thelocal administration, it said.
In the first twomonths of this year, Binh Duong posted a trade surplus of 905 million USD, withthe domestic sector earning 326 million USD and foreign-invested sector enjoying579 million USD./.
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Wood production for export (Photo: VNA) 
