October 03, 2023 | 20:22 (GMT+7)
Binh Duong’s key exports lack orders
The southern province of Binh Duong's export turnover went down by 13% year-on-year to 23 billion USD in the first nine months of this year as its key exports faced difficulties due to lack of orders.
According to the provincial People’s Committee, its traditional export markets all reported decreases compared to those in the same period last year. Notably, the U.S., which accounts for 34.4% of Binh Duong’s exports, recorded a year-on-year decline of 16.8%, the E.U. 3.4%, Japan 20.2%, China 7.7%, and the Republic of Korea 8.7%.
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Wood product packaging for export |
The declines were attributed to a fall of 20-50% in orders received by local businesses.
Although rosy signs were seen at the end of the third quarter, the number of new orders remained modest.
Over the past time, Binh Duong has actively coordinated with the Ministry of Industry and Trade and Vietnam trade offices abroad to carry out a lot of trade promotion programs.
This year, the province’s export revenue is estimated to reach 32.9 billion VND, down 5% year-on-year and equal to 86% of the set target, with a trade surplus of about 9 billion USD.
Source: VNA