Vietnam-Australia trade up over 33% in nine months

Illustrative image (Photo: VNA)

Trade between Vietnam and Australia rose 33.4% to nearly 12 billion USD in the first nine months of this year after reaching a record in 2021, according to the Vietnam Trade Office in Australia.

In the period, export revenue generated in the Australian market hit 4.2 billion USD, up nearly 34%, while Vietnam’s total exports increased 17.2%.

Notably, strong growth was seen in the export of many products, including footwear (30.83%), garment (29.8%), seafood (52%), steel (205%), wood and furniture (26%), and coffee (102%).

In the first eight months of this year, Vietnam was the 10th biggest trade partner of Australia, while Australia is the seventh greatest of Vietnam.

Nguyen Phu Hoa, head of the Vietnam Trade Office in Australia, said that along with implementing the Government’s policies on economic cooperation with Australia, the office has given timely support to domestic firms during the recent tough time of COVID-19.

The office has provided information on the construction material demands of Australia to Vietnamese exporters, contributing to forming supply chains between the two countries. Meanwhile, it has helped promote the trademark of Vietnamese farm produce and aquatic products in the market, while working hard to protect the interest of Vietnamese businesses.

Hoa said that although trade targets for this year has been achieved, there are still many challenges in the rest of the year.

The office is applying drastic measures to further promote trade between the two countries. A campaign to encourage the Vietnamese community in the country to prioritise Vietnamese products will be launched, Hoa added.

The official also stressed the need to improve the efficiency of logistics services to shorten the delivery time.

He also advised Vietnamese exporters of farm produce to continue to ensure the uniformity of product quality, while coordinating with the office to promote trademark building and select exclusive distributors, thus expanding market share in a stable manner./.