|
Total two-way trade between Vietnam and the United Arab Emirates (UAE) reached US$809 million in the first two months of this year, up 58% from the same period last year. |
|
The UAE is one of Vietnam’s 10 largest export partners in the world and is the largest export partner of Vietnam in the Middle East and Africa, which has seen a surge in demand for imported goods in the time of COVID-19. Experts believe that there are plenty of opportunities for Vietnam to gain a stronger foothold in this market in the time ahead. According to the Ministry of Industry and Trade, Vietnam has enjoyed high trade surplus with the UAE for years, posting US$737 million worth of exports to UAE in January-February, up nearly 60% year-on-year while imports valuing US$72 million, up 44%. Phones and accessories were Vietnam’s key export earner from the UAE, bringing home US$551 million, up about 108% from a year earlier and accounting for two thirds of the total exports to the Middle Eastern country. A number of agricultural products also witnessed high growth. Specifically, exports of cashew nuts increased six-fold year-on-year to US$10.3 million, while shipments of fishery products, fruit and vegetables, and pepper grew 18%, 12%, and 17%, respectively. Meanwhile, due to the impacts of COVID-19, shipments of footwear and textile-garment declined 23% and 11%, respectively, to US$14 million and US$11 million. Among imported goods from the UAE, plastic materials valued the highest, US$41.8 million, up 66% year-on-year. Vietnam also spent US$8.7 million on importing cattle feed and materials, up 9%. Source: Nhan Dan Online |
