Vietnam trade with Australia increases considerably in first 7 months
Vietnamese exports to Australia picked up the pace for the first seven months of the year, jumping up 38.2% on-year to US$2.39 billion with aUS$1.22 billion trade surplus.
The Vietnam Trade Office in Australia reports key Vietnamese exports included crude oil, telephones and components, seafood, cashew nuts, timber, garment and textiles, footwear, machinery, and equipment.
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Crude oil topped the list of export items tallying in at US$1.29 billion, representing a 73.3% year-on-year increase. It was followed by telephones and components (US$215.81 million) and aquatic products (US$123.07 million).
Notably, gross exports from iron and steel to Australia saw the highest growth rate hitting US$21.75 million over seven months, up 205.3% on-year.
Other items maintaining steady growth were electric cables, metals, confectionery, cereals, handbags, wallets, suitcases, hats, and umbrellas. Some export items such as transport vehicles and spare parts which faced an 8.9% decline in the previous year, achieved a rather high growth rate of 41% in the reviewed period.
Meanwhile, Vietnamese major imports from Australia were timber products, plastic materials, oil, steel scraps, minerals, and input materials for garment and footwear industries.
