Vietnam H1 Exports to Russia Drop 42% to US$180.44M

The value of Vietnamese goods exported to Russia tumbled 42% on-year to US$180.44 million in the first half, the Ministry of Industry and Trade said on August 27.

 

Many of Vietnam’s key exports to Russia during the period saw sharp on-year decreases in value, said the ministry, elaborating that apparel was down 20% to US$31.49 milion, seafood was down 80% to US$17.849 million, coffee was down 41% to US$13.862 million, and pepper was down 38% to US$4.873 million. 

 

Meanwhile, tea exports gained a strong on-year value increase of 53.2% to US$10.392 million during the first half.

 

Bilateral trade between Vietnam and Russia is forecast to soar between 40% and 50% to between US$2.38 billion and US$2.55 billion this year, Chief Representative of the Russian Trade Office in Vietnam, Sergey Brighinevich, said. (Vinanet)