UAE increases imports from Vietnamese market
VOV.VN - The United Arab Emirates (UAE) imported goods worth a total of US$2.8 billion from Vietnam during the opening seven months of the year, representing an annual rise of 40.8%, reports the General Department of Vietnam Customs.
Two-way trade turnover between the two countries surged by approximately 37.8% year on year to reach nearly US$3.1 billion throughout the reviewed period.
Of the total, Vietnamese exports soared by 40.8% to reach US$2.8 billion, while its imports also saw an increase of 13.3% to over US$286 million.
Currently, the UAE represents one of Vietnam’s 10 largest export markets and its biggest trading partner in the Middle East and Africa, according to the Vietnamese Trade Office in the UAE.
Most notably, mobile phones and components witnessed the highest export turnover of US$1.85 billion, marking an annual rise of 48.1%, followed by computers, electronic products and components with US$246.4 million, up 17.4%, and machinery, equipment, tools and spare parts with US$148.1 million, up 43.1%.
Elsewhere, strong export growth was also recorded in agricultural products, including cashew nuts with approximately US$23 million, representing an increase of 200%, and pepper with nearly US$40 million, up 185%.
Despite recording strong growth in several sectors, a number of export items experienced a downward trajectory, including bags, wallets, suitcases, hats, umbrellas, tea, rice, and paper.
Major Vietnamese imports from the UAE include plastics, petroleum products, liquefied petroleum gas, metals, animal feed, and raw materials.
With continued growth momentum moving forward, their two-way trade turnover is anticipated to reach US$5 billion by the end of the year.
