Vietnam-Australia Q1 Trade Drops 45.7 per cent to US$699M
Bilateral trade between Vietnam and Australia reportedly fell sharply by 45.7 per cent on-year to US$699 million in the first quarter of this year, said Australian Trade Minister Simon Crean during his visit to Vietnam July 24-26.
Negative effects of the global economic downturn were a main factor of the decrease in trade, explained the minister.
As of June, Australia had invested in 214 projects in Vietnam with a total registered capital of US$1.232 billion, ranking 19th out of 86 countries and territories investing in Vietnam, said Crean.
Vietnam-Australia trade reached US$5.6 billion in 2008, an on-year increase of 21 per cent. (Vietnam Economic Times)
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