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BTO –Binh Thuan’s export activities will see many more upbeat changes and start accelerating its progressive speed in the second half of 2016, as predicted by the local functional authorities. In July 2016, exports from commodities have brought to the province around 36.12 million USD, a nearly 22 percent month-on-month increase and over 31 percent year-on-year rise. From the beginning of the year, export turnover of Binh Thuan has realized USD 187.91 million, a year-on-year 5.83 percent and gaining 60 percent of the year’s plan.
Reality shows that Asia is the major market of Binh Thuan exports with a proportion of nearly 63 percent of direct export revenues. However, the figure has plummeted by 8.18 percent year-on-year. Notably, the export turnover gained from some main Asian markets is relatively decreasing. Particularly export turnover from South Korean fell by 25.08 percent, China tumbled 20 percent plus, Hong Kong sank 6.51 percent and Japan plunged 3.98 percent. Yet, the local exportation posted fairly growth in some other markets like India, the Philippines, Saudi Arabia, United Arab Emirates –UAE with 8-fold,4.6-fold, 4.2-fold, 51.68-percent increase, respectively.
Since the earlier months, export turnovers generated from markets of European countries and the Americas saw buoyant signals, notably to Canada (up nearly 34 percent), the USA (up 3.49 percent), and Western Europe (up 44.18 percent)¸ Southern Europe (up 33.55 percent) and Northern Europe (up 10.53 percent). Besides, an inconsiderable volume of Binh Thuan goods have also exported to some countries in Oceania and Africa with more than USD 1 million in return.
Currently, Binh Thuan’s frozen seafood has become stable exports to several potential markets, including Japan, Germany, the USA, the UK. In the meantime, garment exports always perform its leading position as a massive volume can penetrate into Japan and Taiwan, while footwear can only access to markets of Italy, Canada, the USA and Norway.
In 2016, the locality has set a target to reach USD 331 million from gross export turnovers, an increase of 5.75 percent over the year plan. To achieve the set target, exports from seafood, agricultural and miscellaneous products must put more efforts to generate an additional export revenues of USD 56.53 million, USD 4.7 million and USD 79 million, respectively in the last 5 months of 2016 (from August to December 2016).
On the basis of the key markets and export commodities, the authorities, enterprises, and localities across the province should keep on boosting export activities, contributing to the local economic development.
Following are top-ranking export markets of Binh Thuan province, notably to Japan with over USD 56 million, The USA (USD 23.23 million), Taiwan (USD 16.28 million), South Korea (approximately USD 10 million), followed by the European markets (USD 5.23 million from Germany; USD 4.76 million from Italy; USD 4.66 million from the UK, USD 3.24 million from France…
My Thien (Source: Binh Thuan Newspaper)
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