Thai Nguyen posts trade surplus of over 5 billion USD in the first 6 months of 2023

According to a recent report from the General Statistics Office, the total value of goods exports and imports nationwide reached 316.65 billion USD in the first 6 months of 2023, a decrease of 15.2 percent compared to the same period in 2022 (exports decreased by 12.1 percent, imports decreased by 18.2 percent). The trade balance of goods in the first 6 months of 2023 is estimated to have a surplus of 12.25 billion USD.

Machinery Spareparts No. 1 Company (Song Cong Town) produces goods for export.

The top 5 localities with the largest trade surpluses in the first 6 months of the year are Thai Nguyen (5.34 billion USD), Binh Duong (4.27 billion USD), Dong Nai (2.67 billion USD), Bac Ninh (2.3 billion USD), and Hai Phong (1.85 billion USD).

Therefore, Thai Nguyen is the only province with an trade surplus of over 5 billion USD in the first 6 months of the year.

According to the socio-economic report of the provincial People's Committee, in the first 6 months of the year, the total value of exports and imports in the province reached nearly 21 billion USD, a decrease of 23.5 percent compared to the same period, the lowest in the past 3 years.

Specifically, the export value reached nearly 13.3 billion USD, down 21.7 percent compared to the same period. Conversely, the import market reached 7.64 billion USD, a decrease of over 26 percent compared to the same period. Continuous and unpredictable fluctuations in the world economy are believed to be the main reasons for the decline in the past 6 months.

In 2023, Thai Nguyen targets to achieve a 9 percent growth in export value, equivalent to 35 billion USD. To gain ko this goal, the provincial People's Committee has vigorously implemented Directive No. 238 / CD-TTg dated April 10, 2023, from the Prime Minister on promoting production, business, investment, and export-import. In which, the provincial People's Committee requires functional agencies and localities in the province to actively remove legal and administrative obstacles, enhance trade promotion activities, and support the expansion of export markets.