Trade News

  • Vietnam’s exports to Russia expected to rise

  • Friday, 4/21/2017

  • AsemconnectVietnam - 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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