Trade surplus with Australia reaches US$924 million

(VOV) -Two-way trade between Vietnam and Australia in the first six months of the year peaked at over US$2.86 billion, resulting in a trade surplus of US$924 million, according to Vietnam Customs statistics.

Of the total, Vietnam’s export earnings hit US$1.89 billion, up 24.3% year-on-year, and its imports fetched US$971.56 million, up 37.3%.

Key Vietnamese exports included crude oil, mobile handsets and components, seafood, cashew nuts, timber, garment and textiles, footwear, machinery, and equipment.

Crude oil topped the list of export items, bringing home US$989 million, a year-on-year increase of 44.1%. It was followed by mobile handsets and components (nearly US$184.75 million, up 21%), and fisheries (US$104.55 million, 36.5%).

Notably, gross exports from iron and steel to Australia saw the highest growth rate over the past six months, up 215.6% over the previous year.

Other items maintaining steady growth included confectionery and cereals, handbags, purses, suitcases, hats, umbrellas, and rattan and bamboo products.

Computers, electronic products, coffee, and plastic materials also saw sharp increases in the first half of 2014.

Meanwhile, Vietnam’s major imports were wheat, metals, iron and steel scrap, coal, textile materials, leather shoes, machinery, equipment, tools, spare parts, ore and other minerals, and chemical products.