According to data from General Department of Vietnam Customs, in the first 7 months of 2024, bilateral trade turnover between Vietnam and the Russian Federation reached 2.74 billion USD, up 45.5% over the same period in 2023. Of which, exports reached 1.36 billion USD, up 46.4%; imports reached 1.38 billion USD, up 44.6%. Trade deficit with Russian Federation reached about 13 million USD.
Many export groups continued to maintain high growth rates such as: Seafood reached 116.7 million USD (up 105% over the same period in 2023); Rice reached 4.7 million USD (up 92.6% in value and 61% in volume); confectionery and cereal products reached 18.1 million USD (up 116%); textiles reached 458.9 million USD (up 95.7%); wood and wood products reached 3.2 million USD (up 75%); pepper reached 15.7 million USD (up 98.4% in value, up 48.2% in volume); other machinery, equipment, tools and spare parts reached 141.1 million USD (up 91%). Iron and steel products of all kinds reached 697.9 million USD (up 166% in value and 240% in volume); pepper reached 15.7 million USD (up 60% in value). Handbags, wallets, suitcases, hats, and umbrellas continued to recover in the first 7 months of the year, reaching 10.7 million USD (up 27.3%)
Export of various types of footwear continued to maintain a downward trend from the beginning of 2024 compared to the same period in 2023, reaching 6.1 million USD (down 52.6%); ceramic products reached 826,000 USD (down 33%). Situation was similar for tea but decrease rate was lower, reaching 6.5 million USD (down 7.8%); rubber products reached 4.7 million USD (down 20.2%).
On the contrary, Vietnam's import turnover of goods from Russian Federation in the first 7 months of 2024 reached 1.37 billion USD.
Specifically, in the first 7 months of 2024, fertilizers continued to top list of import growth from Russian Federation in both value (165.5 million USD, up 325%) and volume (364,000 tonnes, up nearly 400%) compared to the same period in 2023.
Coal of all kinds reached 657 million USD (up 46.4% in value and 68% in volume); chemicals reached 54.1 million USD (up 83.8%); paper of all kinds reached 6.6 million USD (up 173.6%); auto parts reached 16.7 million USD (up 162%); other means of transport and spare parts reached 3.6 million USD (up 98.4% over the same period).
Wheat products continued to grow compared to June 2024, reaching 26.8 million USD, up 93.1% in value and 78.2% in volume (Vietnam did not import wheat in the same period in 2023).
Aquatic products continued to maintain a downward trend in recent months, reaching 64.1 million USD (down 11.1%); other petroleum products reached 988 thousand USD (down 47.2%); electric wires and cables continued to decrease sharply, reaching 146,000 USD (down 70.6%); chemical products reached 1.1 million USD (down 24.7%); iron and steel of all kinds reached 177,000 USD, down 82.7% compared to the same period last year.

Source: Vitic/ congthuong.vn