Vietnam’s trade exchange with Poland in first 7 months of 2019
Friday, August 23,2019
AsemconnectVietnam - The bilateral trade exchange between Vietnam and Poland strengthened in the first 7 months of this year.
The country’s both exports of goods to and imports of goods from Poland saw growth in the first 7 months of 2019 in comparison with the same period of 2018.
Vietnam’s exports of goods to Poland in the first 7 months of 2019
Poland is one of Vietnam's leading trading partners in Eastern Europe. Vietnam - Poland trade turnover in 2018 reached nearly 1.6 billion USD, up by nearly 60 per cent compared to 2017, of which Vietnam's exports to Poland reached nearly 1.33 billion USD, up by nearly 72 per cent.
In the first 7 months of 2018, the two-way trade between Vietnam and Poland increased by 10.9 per cent over the same period of 2018, reaching 971.69 million USD. Vietnam’s exports of goods to Poland increased by 11.4 per cent compared to the same period last year, reaching 809.42 million USD; and the country’s imports from this market increased by 8.9 per cent, reaching 162.27 million USD. Thus, Vietnam got trade surplus of 647.14 million USD in trade exchange with Poland, up by 12 per cent.
Leading items exported to Poland in the first 7 months of 2019
Vietnam exported to Poland computers, electronic products and components; machinery, equipment, tools and spare parts; textiles and garments; iron and steel products; plastic products, etc. and imported from this market many products such as pharmaceutical products; milk and milk products; machinery, equipment, tools, spare parts, etc.
Among export products to Poland, the most popular were computers, electronic products and components, with 305.58 million USD, accounting for 37.8 per cent of the total export turnover of goods to the market, up by 9.7 per cent compared to the same period in 2018. It was followed by machinery, equipment, tools and spare parts with 26.8 per cent of the total, up by 26.2 per cent and reached 216.64 million USD; textiles and garments - fell by 2.3 per cent over the same period last year, reaching 32.85 million USD, accounting for 4.1 per cent of the total.
In the first 7 months of this year, the exports of several items to the Polish market increased the turnover compared to the same period last year, of which the exports of rice increased sharply by 193.3 per cent in turnover over the same period last year, reached 2.45 million USD. In addition, exports of wood and wood products also increased relatively well by 24.5 per cent, reaching 12.08 million USD; bags, purses, suitcases, hats and umbrellas - increased by 12 per cent, reaching 6.78 million USD. In contrast, tea exports fell sharply by 44 per cent to only 0.53 million USD; rubber products - decreased by 43 per cent, reaching 0.93 million USD; coffee - decreased by 22.9 per cent, reaching 17.17 million USD.
Vietnam’s imports of goods from Poland in the first 7 months of 2019
In order to further strengthen the trade relations between Vietnam and Poland, Polish businesses are implementing trade promotion programs to bring goods to Vietnam.
Poland is one of Vietnam's leading trading partners in Eastern Europe, but Vietnam’s trade surplus to Poland is increasing. In the first 7 months of 2019 Vietnam got 647.14 million USD of trade surplus in trade exchange with Poland, up by 12 per cent year – on - year. Specifically, Vietnam exported to the Polish market reached 809.42 million USD worth of goods to Poland in the first seven months of this year, up by 11.4 per cent over the same period last year; while the country’s imports from this market reached 162.27 million USD, up by 8.9 per cent.
The country’s import value from the Polish market is still not very high. Pharmaceuticals accounted for 18.5 per cent of the country’s total imports of goods from this market, reaching 30.07 million USD, up by 4.4 per cent; machinery, equipment, tools and spare parts - accounted for 17.1 per cent, reaching 27.69 million USD, down 14.7 per cent; milk and dairy products - accounted for 6.5 per cent, reaching 10.61 million USD, down by 23.5 per cent.
The imports of food increased by 50 per cent, reaching 2.35 million USD. In contrast, the imports of iron and steel dropped by 47.5 per cent, reaching 0.07 million USD.
CK
Source: VITIC
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