Vietnam’s exports to Russia expected to rise
Friday, April 21,2017AsemconnectVietnam - The bilateral trade exchange between Vietnam and Russia has been developing ceaselessly.
Last year, the total trade exchange between the two countries reached over $ 2.74 billion, up by 25.6 per cent year – on – year. Of the figure, the country exported $ 1.61 billion worth of goods to and importee $ 1.125 billion worth of goods from Russia.
Vietnam exported to Russia mostly cell phones and accessories; footwear of all kinds; clothes; coffee and seafood; and imported from Russia coal, iron and steel and autos. The two way trade between Vietnam and Russia is expected to reach $ 10 billion in 2020.
In the first quarter of 2017, the country’s exports of goods to Russia hit $ 416.7 million, up by 23.2 per cent over the same period of 2016. Cell phones and accessories were leading the list of items exported by the country to Russia in the period with $ 202.5 million, up by 29.2 per cent year – on – year and accounted for 48.6 per cent of the total. It was followed by textiles and garments - $ 31.4 million, up by 142 per cent; coffee - $ 28.4 million, down by 24.3 per cent; computers, electronics and components - $ 23.6 million, down by 3.3 per cent; and seafood - $ 19.5 million, up by 6.1 per cent.
In the reviewed period, the country’s exports of rice to Russia rocketed by 1,560 per cent to $ 2.2 million; machines, equipment and spare parts – up by 150 per cent; textiles and garments – up by 142 per cent; petroleum – up by 100 per cent; confectionery and grain products – up by 282 per cent. However, the exports of iron and steel were down by 76 per cent; and coffee – down by 24 per cent.
Vietnam’s exports of goods to Russia in the first quarter of 2017 - Unit: US$ - source: the General Department of Customs
Item
|
First quarter of 2017
|
First quarter of 2016
|
Comparison (%)
|
Total
|
416,677,006
|
338,102,933
|
+23.24
|
Cell phones and accessories
|
202,536,960
|
156,788,522
|
+29.18
|
Textiles and garments
|
31,441,059
|
12,995,753
|
+141.93
|
Coffee
|
28,400,231
|
37,518,658
|
-24.30
|
Computers, electronics and components
|
23,566,883
|
24,367,308
|
-3.28
|
Seafood
|
19,526,273
|
18,397,143
|
+6.14
|
Footwear of all kinds
|
16,320,596
|
16,572,657
|
-1.52
|
Machines, equipment, tools and spare parts
|
14,606,089
|
5,847,254
|
+149.79
|
Fruit and vegetables
|
8,997,290
|
4,767,535
|
+88.72
|
Cashew nuts
|
7,218,125
|
5,882,077
|
+22.71
|
Petroleum of all kinds
|
6,796,870
|
3,397,000
|
+100.08
|
Pepper
|
6,574,644
|
7,237,668
|
-9.16
|
Tea
|
6,098,752
|
5,082,802
|
+19.99
|
Handbags, wallets, suitcases, hats and umbrellas
|
4,233,013
|
4,737,637
|
-10.65
|
Rubber
|
2,513,728
|
2,260,421
|
+11.21
|
Plastic products
|
2,505,253
|
2,155,703
|
+16.22
|
Rice
|
2,248,169
|
135,395
|
+1560.45
|
Confectionery and grain products
|
2,182,979
|
570,913
|
+282.37
|
Wood and furniture
|
1,374,305
|
1,030,302
|
+33.39
|
Toys, sports equipment and spare parts
|
1,134,260
|
1,073,941
|
+5.62
|
Iron and steel of all kinds
|
769,213
|
3,241,751
|
-76.27
|
Rubber products
|
367,190
|
245,455
|
+49.60
|
Ceramic and porcelain products
|
309,188
|
243,139
|
+27.17
|
Bamboo, rattan, sedge and carpet products
|
147,775
|
119,452
|
+23.71
|
CK
Source: VITIC
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