Trade surplus with Australia expands in 2015

Vna/Hanoitimes

Feb 04, 2015 / 02:55 PM

Vietnam recorded a better-than-expected trade surplus in excess of US$1.3 billion with Australia in 2014, according to the Vietnam Customs office.

Exports to Australia jumped 13.7% on-year to US$3.39 billion while imports surged 29% to US$2.06 billion the customs office said.

Crude oil accounted for 46% of Vietnam’s exports to Australia while other major exports included agro-fishery and industrial products such as steel and electric components.

Meanwhile, Vietnam beef imports from Australia surged 65% on-year. Other significant imports included wheat, milk, dairy products,plastic materials, textile materials, leather and minerals.

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