|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.