Vietnam’s exports to Africa, Asia up

To the figure, exports contributed US$5.73 billion, while US$4.12 billion came from imports representing 7 percent fall on last year, according to the General Department of Customs (GDC).

Vietnamese key export items enjoying significant growth during the period included rice, coffee, textiles and garments, seafood and mobile phones.

During the period, the country's exports to the Middle East bloc experienced the highest growth, soaring by 87 percent to hit US$2.82 billion due to significant increases in exports to the United Arab Emirates and Arabia.

The two markets imported US$1.29 billion and US$372 million worth of Vietnamese products, up159 percent and 132 percent, respectively, against the same period last year.

Exports to South Asia held steady, while exports to India, one of the most important markets in the region, rose by 13 percent year-on-year to US$1.05 billion.

Meanwhile, the African countries’ imports from Vietnam dropped by 49 percent, reaching only US$1.43 billion due to a slump in demand for Vietnamese precious stones and metals.

 

The Ministry of Industry and Trade (MoIT) estimated that the nation’s exports to those markets last month added an additional of US$1 billion.

Many of Vietnamese exports such as seafood, coffee, pepper, textiles and garments have been performing well in those markets, a trend reflected in the expanding export volume, reported MoIT.

The structure of the country’s exports to those markets has shifted to include more industrial and manufactured products, including mobile phones, computers and electronics. This development is considered an important precondition for Vietnam to maintain stable export growth in the markets for years to come.

Experts predict that Vietnam’s exports to Africa, West and South Asia will increase after the country approved the National Import, Export Strategy for the 2011-20 period late last year, to promote exports to Africa and strengthen trade ties with the Middle East by 2015.