Dong Nai earns over US$5.2 billion in export in four months

The locality also imported US$4.78 billion worth of goods in the period, according to the provincial Department of Industry and Trade.

The department said the trade surplus can be attributed to local businesses’ efforts to seek domestic supply of materials and goods.

Stronger connection among domestic enterprises has also helped reduce import while allowing domestic enterprises to enjoy tax incentives when shipping their products to the markets with which Vietnam has signed free trade agreements (FTAs), including the Republic of Korea (RoK), Japan, Chile, and ASEAN nations.

Export revenues from traditional markets recorded good growth, such as an 88 percent increase year-on-year in the RoK market, nearly 13 percent in Japan, over 9 percent in France, and nearly 8 percent in the US.

The province’s major export products were footwear, machinery and equipment, vehicles, and fibres.

A number of agricultural products saw their export price rise in the period, such as cashew nut, coffee bean, and rubber latex.

The locality aims to look for more export markets while developing brand names of agricultural products to increase export revenues.