Exports to some Africa nations fall
Vietnam's exports to some large African countries plunged in February, the Ministry of Industry and Trade (MoIT) has reported.
Exports to Senegal plummeted 75 percent against the same month last year to hit US$4.38 million.
Export earnings from Egypt, the Ivory Coast and Ghana tumbled 40 percent to US$34 million, 59 percent to US$4.8 million and 13 percent to US$13.2 million, respectively.
Rice exports to the Ivory Coast slumped 83 percent to US$1.68 million while to Senegal they fell slumped 87 percent to US$1.6 million.
The fall in rice exports was partly due to fierce competition from cheaper Indian and Thai rice with which it was difficult to compete because of the distance to Africa increasing transport costs, according to a MoIT expert.
Conversely, export turnover to four other Africa markets showed stable growth across a range of goods. South Africa continued to be Vietnam's largest trade partner in the bloc, importing US$97 million worth of goods, including mobile phones and components, footwear, chemical products and garments – up 24 percent year-on-year.
It was followed by Algeria US$35.2 million (up 5 percent), Angola US$16.5 million (up 42 percent) and Nigeria US$16 million (up 15 percent). Eight countries accounted for 65 percent of total export value to the African bloc.