Two-way trade between Vietnam and UAE grows strongly

Friday, 2021-03-12 09:00:38
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NDO – The United Arab Emirates (UAE) is one of the 10 largest export partners of Vietnam in the world and is the largest export partner of Vietnam in the Middle East and Africa.

Statistics from the General Department of Vietnam Customs show that total two-way trade between Vietnam and the UAE has reached US$809 million in the first two months of this year, up 58% over the same period in 2020.

Of which, export turnover from Vietnam to the UAE reached approximately US$737 million, up nearly 60%,and imports reached US$72 million, up 44%.

In terms of export structure, phones and accessories are still the main export items of Vietnam to this market, reaching US$551 million, up nearly 108% over the same period last year and accounting for two third of total export turnover.

Due to the impact of the COVID-19 epidemic, export of goods such as footwear and textiles has decreased, reaching US$14 million and US$11 million, down 23% and 11%, respectively.

However, agricultural and aquatic products all grew positively. Specifically, cashew nuts reached US$10.3 million, an increase of nearly 6 times over the same period last year. In addition, seafood products hit US$10.6 million, up 18%; fruit and vegetable products hit US$7.5 million, up 12%; and pepper hit US$4.8 million, up 17%.

In terms of import structure, plastic raw materials are the main import item from this Middle Eastern country, reaching US$$41.8 million, up 66% over the same period last year, followed by animal feed and raw materials (US$8.7 million, up 9%). Among these imports, only petroleum products saw a decrease in turnover, reaching only US$2.5 million in the first two months of 2021.