Facing high demand for consumer goods, in the first 7 months of 2021, The United Arab Emirates (UAE) imported $2.8 billion worth of goods from Vietnam, which is 40.8% more than the same period last year.
According to the latest data from the General Department of Vietnam Customs, the total two-way trade turnover between Vietnam and The United Arab Emirates (UAE) in the first 7 months of 2021 reafched nearly $2.1 billion, an increase about 37.8% over the same period last year. In which, Vietnam's import turnover from this market reached over $286 million, up 13.3%.
The Vietnam Trade Office in the UAE (concurrently Qatar) said that with the high growth in trade in goods, The UAE is one of Vietnam's partners in the world with the largest export growth rate, and the highest rate of export growth. higher than the national average growth rate (24.6%).
Currently, the UAE is one of the 10 largest export partners of Vietnam in the world, and the largest trading partner of Vietnam in the Middle East and Africa. In the balance of trade, Vietnam is always in a big trade surplus with this market.
In the contents of exports to the UAE in the past 7 months, mobile phones and components are still the items with the largest export turnover, reaching 1.85 billion USD, up 48.1% over the same period. Followed by computers, electronic products and components (reaching 246.4 million USD, up 17.4%); machinery, equipment, tools and spare parts (reaching USD 148.1 million, up 43.1%. Agricultural products also had the best growth rate including: cashew nuts reaching approximately 23 million USD, up 200%; pepper reached nearly 40 million USD, up 185%.
However, a number of items with a decrease in turnover over the same period, notably bags, wallets, suitcases, hats, umbrellas, reached 7 million USD, down 45.4%; tea reached 1.4 million USD, down 34.6%; rice reached 16 million USD, down 15.4%; paper and paper products reached 2.4 million USD, down 10%.
Vietnam also imported from the UAE some input materials such as plastics, petroleum products, and gas, in which the item with the largest turnover was plastic raw materials, reaching 123.6 million USD, up 48. 8% over the same period. Some other high-turnover import items such as liquefied petroleum gas reached approximately 57 million USD, common metals reached 19.2 million USD, animal feed and raw materials reached 13.8 million USD; Other petroleum products reached 15.5 million USD…
With positive growth results as above, together with the demand, consumers in the UAE and around the world come back after the epidemic, especially in the time of holidays in late, the Vietnam Trade In the UAE, it is forecasted that the UAE will continue to be a potential market for Vietnamese businesses to penetrate and develop.
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