Photo for illustration. (Source: VNA)
Of this, Vietnam’s exports to UAE reached approximately 737 million USD, up nearly 60%, and imports were valued at 72 million USD, up 44%. In the balance of trade, Vietnam always enjoys a trade surplus in this market.
Phones and accessories are still Vietnam’s key export items, valued at 551 million USD, up nearly 108% compared to the same period last year and accounting for two thirds of the total export turnover.
Cashew is among items exported to the UAE over the past 2 months.
Exports of agricultural and aquatic products all grew positively. Specifically, cashew nuts reached 10.3 million USD, up 6 fold compared to the same period last year; seafood, 10.6 million USD, up 18%; and fruits and vegetables, 7.5 million USD, up 12%.
Meanwhile, raw material plastic is the main import item from the Middle Eastern country, reaching 41.8 million USD, a year-on-year increase of 66%. It is followed by animal feed and raw materials with 8.7 million USD, up 9%.
According to the Vietnam Trade Office in the UAE, with its favorable geographical location, flexible and effective foreign trade policies, and modern infrastructure, the UAE is a gateway to penetrate the Middle East and Africa market. 80% of goods moving into the UAE are re-exported to a third country.
In addition, the UAE is a huge importer of food and foodstuffs from all over the world.
“With the above factors, the UAE continues to be a potential market to penetrate and develop for Vietnamese businesses,” the Vietnam Trade Office in the UAE said.
The United Arab Emirates (UAE) is one of the 10 largest export partners of Vietnam in the world and the biggest export partner of the country in the Middle East and Africa, the Ministry of Industry and Trade reported./.