PORTAL - According to the report of Department of Industry and Trade, in the third quarter of 2020, the export and import situation of the province showed signs of recovery and good growth.
Specifically, the export turnover in August is estimated at 2 billion 696 million USD, increase by 5.8% over the previous month and increase by 20% over the same period in 2019; Accumulated amount reached 16 billion 857 million USD in 8 months, increase up 3% over the same period (the same period increased 13.1%), reaching 58.2% of the plan in 2020 (the plan is 32 billion US dollars).
The province's main export products still have a high growth rate compared to July, of which, the main export products achieved positive growth. Specifically, wood and wood products were estimated at 500.5 million USD, increase by 5.1% from the previous month (estimated at 2,906.1 million USD in 8 months, increase by 7.8%, reaching 78% plan); textiles and garments were estimated at US $ 430.8 million, increase by 3% over the same period (estimated at US $ 1,926.5 million in eight months, up 0.8%, reaching 59.3% of the plan); Footwear products was estimated at 223.7 million USD, increase by 12.3% over the same period (estimated at 1,356.1 million USD in 8 months, decrease by 15.0% over the same period; reaching 36.1% compared to the plan in year).
The province's main export products still have high growth rate
In terms of imports, the import situation still achieved stable growth, the main imported goods were raw materials for production and machinery and equipment. Specifically, the import turnover in August was estimated at USD 1 billion 971 million, increase by 14% over the previous month and 9.4% over the same period. Accumulated amount of import reached 13 billion USD in 8 months, increase by 3.3% over the same period (increase by 7.1% in the same period). Thus, in the first 8 months of 2020, the province's trade surplus is estimated at 3.85 billion USD.
Mr. Nguyen Thanh Toan - Director of Department of Industry and Trade said that, in the first 8 months of 2020, although the Covid-19 pandemic still strongly affecting the global supply chain, especially significantly reduces the demand for consumption in the province's main export markets such as the US, Europe, Northeast Asia, China, Taiwan etc. However, it can be seen that the import and export in Binh Duong still maintains good growth compared to the first 6 months of the year and maintained a high trade surplus. Thereby, it can be seen that the production and export enterprises of the province have had a good recovery after the Covid-19 pandemic. It is forecasted that in the fourth quarter of 2020, the world and Binh Duong export and import situation will gradually recover; the province's exports will continue to achieve a higher growth rate compared to the third quarter of 2020.