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

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