Vietnam to speed up exports to Australia
Thursday, March 8,2018AsemconnectVietnam - Australia is now the 8th biggest exporter and 12th biggest importer of Vietnam. Vietnam also the 14th biggest importer as well as exporter of Australia.
According to experts, in 2018 Australia will cut tax rates on goods imported from its partners in accordance with AANZFTA, so it will be a good opportunity for Vietnam to speed up exports to Australia.
In the first month of this year, Vietnam earned US$ 304.7 million from exports of goods to Australia, increased by 0.51 per cent compared with the previous month and by 40.37 per cent over the same month of last year.
Crude oil was the leading item exported by the country to Australia in the month with 112,400 tons worth of $ 58.5 million, increased sharply by 327.51 per cent in quantity and 368.64 per cent in value compared with the same period last year. The figure was up by 49.48 per cent in quantity and 61.5 per cent in value compared with the last month of last year. The average crude oil export price in January was at $ 520.61 per ton, up by 8.05 per cent month – on – month and by 9.62 per cent year – on – year.
It was followed by telephones and components with $ 37.7 million, up by 11.67 per cent.
In the first month of this year, Vietnam’s exports of iron and steel of all kinds rocketed by 402.52 per cent; electric wires and cables – up by 317.4 per cent; and seafood – up by 104.47 per cent.
However, the exports of means of transport and spare parts to Australia decreased sharply by 53.36 per cent or $ 2.5 million.
Vietnam’s exports of goods to Australia in January of 2018 – source: the General Department of Customs
Item
|
January of 2018
|
Vs. January of 2017 %)
|
||
Quantity (Ton)
|
Value (US$)
|
Quantity (%)
|
Value (%)
|
|
Total
|
|
304,776,574
|
|
40.37
|
Crude oil
|
112,498
|
58,567,030
|
327.51
|
368.64
|
Telephones and components
|
|
37,708,670
|
|
11.67
|
Computers, electronics and components
|
|
33,324,996
|
|
36.47
|
Machines, equipment and spare parts
|
|
22,253,545
|
|
78.2
|
Textiles and garments
|
|
18,320,916
|
|
4.13
|
Footwear of all kinds
|
|
18,232,661
|
|
11.72
|
Seafood
|
|
17,183,180
|
|
104.47
|
Wood and furniture
|
|
14,678,409
|
|
6.65
|
Iron and steel products
|
|
12,036,547
|
|
402.52
|
Cashew nuts
|
833
|
8,151,132
|
-8.26
|
-1.72
|
Coffee
|
2,526
|
4,768,014
|
125.33
|
78.87
|
Plastic products
|
|
4,650,247
|
|
30.43
|
Non – wooden products
|
|
4,295,508
|
|
63.06
|
Other ordinary metals and products
|
|
4,000,287
|
|
-22.49
|
Iron and steel of all kinds
|
5,042
|
3,738,096
|
-38.95
|
-14.4
|
Handbags, wallets, suitcases, hats and umbrellas
|
|
3,258,837
|
|
5.22
|
Fruit and vegetables
|
|
2,855,020
|
|
46.99
|
Chemical products
|
|
2,620,631
|
|
55.55
|
Means of transport and spare parts
|
|
2,596,892
|
|
-53.36
|
Paper and products
|
|
2,549,873
|
|
1.04
|
Toys, sports equipment and spare parts
|
|
2,284,709
|
|
-2.47
|
Confectionery and grain products
|
|
1,826,977
|
|
84.4
|
Pepper
|
207
|
1,307,967
|
53.33
|
7.68
|
Ceramic and porcelain products
|
|
1,218,288
|
|
19.78
|
Textile, garment, leather and footwear materials
|
|
1,149,070
|
|
44.39
|
Bamboo, rattan, sedge and carpet products
|
|
1,092,535
|
|
44.05
|
Rubber products
|
|
980,972
|
|
-12.62
|
Cameras, camcorders and components
|
|
746,134
|
|
|
Electric wires and cables
|
|
697,979
|
|
317.44
|
Precious stones, metals and products
|
|
545,777
|
|
-30.43
|
Plastics
|
383
|
510,697
|
-4.96
|
-7.46
|
Rice
|
607
|
396,693
|
-19.28
|
-3.39
|
Cement and clinker
|
612
|
73,520
|
-43.96
|
-7.53
|
CK
Source: VITIC
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