Vietnam - Australia trade goes up 37% in eight months

Trade revenue between Vietnam and Australia approximated 11 billion USD in the first eight months of 2022, up 37.44% from a year earlier, statistics show.
Vietnam - Australia trade goes up 37% in eight months

Vietnamese lychee sold at a supermarket in Perth city of Australia. (Photo: VNA)

Notably, Vietnam’s exports to Australia surged 42% to 4.9 billion USD, according to Vietnam’s trade office in the country.

Among the main exports to Australia, fishery products brought home 247.6 million USD (up 49%), timber and wood products 135.4 million USD (up 23.99%), confectionery over 50 million USD (up 50%), and steel 142 million USD (up 232.92%).

Meanwhile, imports also rose 34.75%, with input materials for production such as coal, iron ore, metal, and wheat being the main commodities purchased from Australia.

Nguyen Phu Hoa, head of Vietnam’s trade office, attributed the impressive export growth to the increasing diversity and competitiveness of Vietnamese goods, efforts by Vietnamese firms to help their products get a foothold in the Australian market, and localities’ support for businesses in trade promotion.

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(Source: VNA)