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Monday, October 18, 2021

Vietnam’s exports to UAE surge over 40% in Jan-Jul

By Lan Nhi

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HCMC – Vietnam exported goods worth US$2.8 billion to the United Arab Emirates (UAE) from January to July 2021, surging 40.8% compared with the same period last year.

On the other hand, the country spent US$286 million on imports from the UAE, increasing 13.3% year-on-year. This led to a trade surplus of US$2.514 billion with the UAE in the seven-month period.

Data of the General Department of Vietnam Customs showed that two-way trade between Vietnam and the UAE reached nearly US$3.1 billion between January and July, soaring 37.8% year-on-year.

According to the Vietnam Trade Office in the UAE, Vietnam has always enjoyed a trade surplus with the UAE.

The UAE is among the country’s 10 biggest export markets in the world and the biggest one in the Middle East and Africa.

Vietnam’s leading export commodity to the UAE in January-July was phones and phone parts with US$1.85 billion, surging 48.1% compared with the same period last year.

Other key commodities for export included computers and components, electronic products, machinery, equipment and accessories.

Commodities that achieved the strongest growth were cashew nuts with US$23 million, surging 200% and peppercorns with nearly US$40 million, growing 185% year-on-year.

On the other hand, Vietnam imported plastic materials worth US$123.6 million from the UAE, soaring 48.8% year-on-year, liquefied petroleum gas worth US$57 million, common metals worth US$19.2 million, animal feed worth US$13.8 million and petroleum products worth US$15.5 million.

Given the year-end peak season and the recovery of global trade, the Vietnam Trade Office in the UAE expected that Vietnam’s exports to the UAE will continue growing and reach US$5 billion this year.

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