Vietnam’s exports to Australia rise sharply

Monday, 18/04/2022 17:51
Statistical data of the General Department of Customs shows that export turnover from Vietnam to Australia in the first three months of 2022 has grown by 32.36% over the same period last year, valued at 1.38 billion USD.

In the first months of 2022, exports from Vietnam to Australia continued to grow strongly, as reflected in many different agricultural and industrial products.

Processing rubber latex for export at Dau Tieng Rubber Farm in the southern province of Binh Duong. (Photo: VNA)

In which, agricultural products and vegetables continued to gain impressive growth, 24% higher than the same period last year.

Specifically, coffee saw an increase of 84% year on year, while seafood export increased by 51%. Rice, after strong promotions in 2021, such as promotional events and invitations to try Vietnamese rice in some major Australian states, continued to grow, even in the context of the country reducing its overall import of rice.

In addition, exports of other strong industrial products of Vietnam to Australia also recorded impressive growth, such as iron and steel of all kinds by more than 500%, rubber by 41%, electric cables by 26%, plastic products by 26.61%, and computers and components by 28.89%.

At the same time, the largest market in Oceania is becoming a solid support for the growing production of Vietnam, as a market providing essential input materials, such as raw materials like coal, iron ore, metals, cotton, wheat and fodder.

Most notably, coal import turnover from Australia into Vietnam after the first three months of 2022 increased by 176% over the same period last year, while cotton imports turnover rose by 333%.

In 2021, two-way trade turnover between Vietnam and Australia hit a record high, surpassing the threshold of 12.4 billion USD for the first time, an increase of more than 49% compared to 2020.

Last year, Vietnam and Australia completed signing the Enhanced Economic Engagement Strategy, which aims to support their shared ambition of making the two countries each other’s top trading partners and doubling two-way investment./.