Vietnam-Ukraine trade up 4.5 pct
(VOV) - The import-export turnover between Vietnam and Ukraine reached US$313 million in 2012, increasing by 4.5 percent compared to 2011, according to the Vietnam General Department of Customs.
Vietnam’s export earnings hit US$221 million, up 13.6 percent. Major exports included seafood, garments, pepper, footwear, cashew nuts and rice, which accounted for 30 percent of the country’s total export turnover to Ukraine.
However, its imports fell 12.2 percent compared to the previous year to US$92 million. Vietnam mainly purchased iron and steel, machinery, equipment and spare parts, means of transport, chemicals and fertilizer, which made up 70 percent of its total import value from Ukraine.
To raise exports, Vietnamese businesses need to boost trade promotion, expand their markets, reduce exports of raw materials, and increase exports of processed products.