While trade balance of the country in the first half of 2016 is the excess of imports over exports, trade surplus was seen in Khanh Hoa Province.
While trade balance of the country in the first half of 2016 is the excess of imports over exports, trade surplus was seen in Khanh Hoa Province.
According to report released by the provincial Department of Industry and Trade, export turnover of the province in the first six months of 2017 hit USD650 million, increasing by 11.01% year-on-year and reaching 49.1% of the year’s target. It was a good sign of growth. Especially, all main exports of the province made high growth. It was a sign of recovery.
Textile saw the best recovery. Textile export of the province in the first half of 2016 decreased by 14.6% over the first half of 2015, but in the first half of 2017, export turnover of textile hit USD44.2 million, rising by 32.1% year-on-year. The increase in the province’s textile was also higher than the figure 7% of the country.
Fishery export of the province in the first six months of 2017 hit USD226 million, increasing by 17.72% year-on-year while the figure of the whole country was only 15.6%. Accounting for the increase was the favorable weather for aquaculture and fishing. Especially, tunas had a bumper crop in the first six months.
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In recent years, coffee and tobacco have also contributed much in the province’s export turnover. In first six months of 2017, coffee export hit USD82.7 million, a 31% rise year-on-year. Tobacco export reached USD18.9 million, a 7.1% rise year-on-year.
While imports of the country exceeded exports by 2.7 billion USD in the first half of the year, Khanh Hoa Province made a trade surplus of 355 million USD, rising by 29.5% in comparison with USD280 million in the first half of 2016.
Import turnover of the province in the six months was USD295 million, a 5.3% decrease year-on-year. Commodities with decrease in import were machines (30.7%), foodstuff for breeding (44%), products from paper (84%), etc.
From now to the end of the year, export of the province must reach USD670 million to fulfill the year’s target of USD1.32 billion.
Mai Hoang
Translated by T.T
