Vietnam-Russia trade on the rise

20:31 | 23/12/2016 Import-Export Follow english.haiquanonline.com.vn on

Trade value between Vietnam and Russia reached US$532 million in October and November, up 33% against the same period last year, according to Vietnam Customs

Of the figure, Vietnam’s exports to Russia rose by 18% to US$331.8 million while imports from the market jumped by 68% to US$200.2 million.

Vietnam’s exports to Russia increased 11.19% to US$1.5 billion for 11 months leading up to December.

Telephones and components top among major products to Russia with US$682.5 million (accounting for 45.3% of total export value and up 10.06%), followed by coffee with US$107.8 million (up 16.15%) and garment with US$99.1 million (up 19.64%).

Bilateral trade value has witnessed a significant increase since the Free Trade Agreement between Vietnam and the Eurasian Economic Union (EAEU) came into effect on October 5, 2016. Nearly 5,000 tariff lines dropped to zero this year. This is considered a driving force for accelerating Vietnam and Russia trade in the coming time.

Source: VOV

Tags:

Related News

Complying with regulations of each market for smooth fruit and vegetable exports

13:06 | 09/01/2025 Import-Export

VCN - According to Mr. Dang Phuc Nguyen (photo), General Secretary of the Vietnam Fruit and Vegetable Association (Vinafruit), with the development momentum and increasing consumption demand from the Chinese market, the Vietnamese fruit and vegetable industry is setting new records and is expected to reach an export turnover of US $10 billion by 2030. With great potential and advantages in developing agricultural products, Vietnam has been affirming its position as one of the world's leading agricultural exporters.

Coconut export enter acceleration cycle

11:02 | 30/12/2024 Import-Export

VCN - The opening of large markets and the proactiveness of enterprises in investing in deep processing and green transformation will create momentum for the Vietnamese coconut industry to enter a stronger growth cycle in the coming time.

The Middle East: a promising seafood export market for Vietnam

07:43 | 31/12/2024 Import-Export

VCN - Seafood exports to the Middle East experienced double-digit growth in 2024, placing the region among the top two fastest-growing seafood import markets, second only to China.

Preliminary assessment of Vietnam international merchandise trade performance in the first 11 months of 2024

10:50 | 27/12/2024 Customs Statistics

Highlights 1. According to trade statistics of Vietnam Customs, in November of 2024, a 4.1% downwards in total external merchandise turnover of Vietnam was recorded as compared to the result of October 2024. Exports went down 5.3 %, to USD 33.73 billion and imports decreased 2.8%, to USD 32.67 billion in terms of month-on-month basis. As a result, there was a USD 1.07 billion surplus in Vietnam’s trade balance in this month.

Latest News

Việt Nam tightens fruit inspections after warning from China

08:01 | 15/01/2025 Import-Export

The Plant Protection Department has urged local authorities and relevant agencies to strengthen the inspection and monitoring of durian cultivation areas and export packing facilities following a warning from China.

Brand building key to elevate Vietnamese fruit and vegetable sector: experts

08:00 | 15/01/2025 Import-Export

Trade promotion, product introduction and brand promotion also need to be innovated to attract customers effectively.

Freight transport via China-Việt Nam cross-border trains posts rapid growth

08:01 | 13/01/2025 Import-Export

The Nanning branch of China Railway Group Limited reported a sharp increase in freight transport on the China-Việt Nam cross-border railway last year, with trains departing from Guangxi carrying a total of 19,670 containers, marking a staggering annual increase of 1,153 per cent.

Vietnamese retail industry expects bright future ahead

06:22 | 11/01/2025 Import-Export

With a young and dynamic population, rising incomes and increasing urbanisation, the sector is emerging as one of the most promising engines for economic expansion in the coming years.

More News

Fruit and vegetable industry aims for $10 billion in exports by 2030

15:12 | 07/01/2025 Import-Export

Based on impressive export results in recent years, Việt Nam’s fruit and vegetable industry has set a target of achieving US$10 billion in export value by 2030, according to the Việt Nam Fruit and Vegetables Association.

GDP grows by over 7 per cent, exceeds target for 2024

15:11 | 07/01/2025 Import-Export

The growth rate is relatively impressive for the 2011-24 period, only lower than the rates of 2018, 2019 and 2022.

Vietnamese pepper: decline in volume, surge in value

15:10 | 07/01/2025 Import-Export

In December 2024, Việt Nam exported 15,265 tonnes of pepper of all types, including 12,771 tonnes of black pepper and 2,494 tonnes of white pepper, generating a total turnover of $100.6 million.

Việt Nam maintains position as RoK’s third largest trading partner

15:09 | 07/01/2025 Import-Export

Việt Nam continued solidifying its position as the Republic of Korea (RoK)’s third-largest trading partner in 2024, trailing only China and the US, marking the third consecutive year of the significant trade relationship.

Greater efforts to be made for stronger cooperation with European-American market

15:08 | 06/01/2025 Import-Export

The European-American Market Department (MoIT) will monitor regional developments and explore opportunities to strengthen Việt Nam’s economic and trade ties.

Leather, footwear industry aims to gain export growth of 10% in 2025

15:06 | 06/01/2025 Import-Export

The footwear sector will still focus on exporting to available and easy-access markets such as Africa and Asia to increase revenue.

Grasping the green transformation trend - A survival opportunity for Vietnamese Enterprises

14:53 | 06/01/2025 Import-Export

VCN - Green transformation not only helps enterprises minimize the risk of being eliminated from important export markets, but also creates opportunities to build sustainable brands, enhance product value and reach high-end customer segments globally.

Việt Nam to complete database of five domestic manufacturing industries in 2026

20:57 | 05/01/2025 Import-Export

The project to build a comprehensive database of domestic industries aims to enhance the capacity and efficiency of trade remedy investigations. It also serves as a strategic tool to protect domestic production.

Logistics firms optimistic about growth prospects in 2025: Survey

20:54 | 05/01/2025 Import-Export

The logistics industry’s business community has expressed optimism about growth prospects in 2025, with nearly 42 per cent of companies surveyed by Vietnam Report JSC affirming that their business outlook will be more positive.

Your care

Latest Most read