Exports to the Middle East increase sharply
(VOV) - Exports to the Middle East reached US$2.8 billion during the first nine months of 2012, up 56 percent against the same period last year.
The Ministry of Industry and Trade reported that telephones and electronic components saw rapid growth and became the market’s primary export commodities. The United Arab Emirates (UAE) took the lead, consuming 73 percent of the market’s exports, It was followed by Turkey with 11 percent, and Saudi Arabia with 9 percent.
Fabric and textiles rank second among export items, accounting for 9 percent of total export turnover. This type of commodity has become increasingly favoured by market forecasters in recent years, as they believe Turkish garment producers will ensure demand remains high.
Seafood products secured third place with 6 percent of total export turnover. Vietnam’s tuna products have been exported to 12 of the region’s nations, with Iran, Israel, Libya, UAE, and Egypt being the largest consumers.
Emerging export commodities like tobacco and glass could also soon capitalise on the potential of the Middle Eastern export market.