Vietnam enjoys substantial increase in exports to Russia

Vietnam’s exports to Russia have skyrocketed during the first ten months of the year, with seafood and textile products proving to be particularly popular among Russian consumers, according statistics released by the General Department of Vietnam Customs.

Illustrative image (Source: Internet)

During the reviewed period, Vietnamese exports to Russia enjoyed a 12.5 per cent increase to US$2.3 billion, whilst imports from the Eastern European country suffered a decline of 18.3 per cent to US$1.47 billion.

The nation’s key export items to Russia include telephones and their components, computers, electronics, textiles, footwear, and seafood.

Of these popular goods, mobile phones and their components underwent an year-on-year fall of 2.3 per cent to US$912.5 million.

Elsewhere, the export of computers, electronic products, garments & textiles, footwear, and aquatic products to the market saw an increase of between 20 per cent and 50 per cent.

Simultaneously, imports from Russia experienced a significant drop, with coal, iron, steel, wheat, and cars witnessing a decline of between 70 per cent and 170 per cent.

At present, Vietnam represents Russia’s largest trading partner among ASEAN members and is ranked sixth overall in the Asia - Pacific region. Indeed, the country accounts for approximately 0.75 per cent of the Eastern European nation’s total import and export turnover.