Binh Duong posts 10 billion USD in trade surplus this year

According to the provincial Department of Industry and Trade, the province will rake in an estimated 34.5 billion USD from exports, up 12.7% year-on-year, and spend some 24.5 billion USD on imports, an increase of 12.2% compared with last year’s figure.

Exports from Binh Duong currently account for over 10% of Vietnam’s total export value. Six key products, namely wood and wood products, textiles, footwear, steel, and electronics, contributed 19.3 billion USD, making up 56.2% of the province’s total export value. Notably, wood export value rose by 17.6% to 6.5 billion USD, while textile export increased by 15.1%, reaching 3.2 billion USD.

According to Nguyen Thanh Toan, Director of the provincial Department of Industry and Trade, the 10-billion USD trade surplus reflects the resilience and adaptability of local businesses. He said enterprises have effectively utilised free trade agreements to expand markets, particularly in the US, EU, Japan, and China.

Toan said that in the coming time, the department will foster trade connections and provide timely information to industries and businesses through regular Ministry of Industry and Trade meetings to boost exports. It will also explore new markets, such as Halal markets, to broaden opportunities for local goods.

Chairman of the Binh Duong People’s Committee Vo Van Minh attributed the record trade surplus to close cooperation between local authorities and the business community. Moving forward, the province plans to invest heavily in industrial infrastructure, digital transformation, and supportive policies to sustain growth in 2025.

It will focus on developing trade and logistics infrastructure and improving transportation networks, particularly those connecting ports and industrial zones, aiming to create favourable conditions for businesses to maintain production and exports.

Businesses will be encouraged to adopt digital transformation, smart manufacturing, and supply chain automation to enhance productivity and product quality. Binh Duong plans to invest in high-quality workforce training, provide financial support, and offer consulting on legal regulations in potential export markets, the official said./.