Fertilizer continues to top Vietnam's import growth list from the Russian Federation

According to the General Department of Vietnam Customs, in the first 7 months of 2024, bilateral trade turnover between Vietnam and the Russian Federation reached 2.74 billion USD, up 45.5% over the same period in 2023. Of which, exports reached 1.36 billion USD, up 46.4%; imports reached 1.38 billion USD, up 44.6%. The trade deficit with the Russian Federation reached about 13 million USD.

Fertilizer import (Photo: Danviet.vn)

Many export groups continued to maintain high growth rates, such as: Seafood reached 116.7 million USD (up 105% over the same period in 2023); rice reached 4.7 million USD (up 92.6% in value and 61% in volume); confectionery and cereal products reached 18.1 million USD (up 116%); textiles reached 458.9 million USD (up 95.7%); wood and wood products reached 3.2 million USD (up 75%); pepper reached 15.7 million USD (up 98.4% in value, up 48.2% in volume); machinery, equipment, tools and other spare parts reached 141.1 million USD (up 91%).

Iron and steel products of all kinds reached 697.9 million USD (up 166% in value and 240% in volume); pepper reached 15.7 million USD (up 60% in value). Handbags, wallets, suitcases, hats, and umbrellas continued to recover in the first 7 months of the year, reaching 10.7 million USD (up 27.3%).

Footwear exports of all kinds continued to maintain a downward trend from the beginning of 2024 compared to the same period in 2023, reaching 6.1 million USD (down 52.6%); ceramic products reached 826 thousand USD (down 33%). The situation was similar for tea products but the decrease rate was lower, reaching 6.5 million USD (down 7.8%); rubber products reached 4.7 million USD (down 20.2%).

In the opposite direction, Vietnam's import turnover of goods from the Russian Federation in the first 7 months of 2024 reached 1.37 billion USD.

Specifically, in the first 7 months of 2024, fertilizers continued to top the list of import growth from the Russian Federation in both value (165.5 million USD, up 325%) and volume (364 thousand tons, up nearly 400%) compared to the same period in 2023.

Coal of all kinds reached 657 million USD (up 46.4% in value and 68% in volume); chemicals reached 54.1 million USD (up 83.8%); paper of all kinds reached 6.6 million USD (up 173.6%); auto parts and components reached 16.7 million USD (up 162%); other means of transport and spare parts reached 3.6 million USD (up 98.4% over the same period).

Wheat products continued to grow compared to June 2024, reaching 26.8 million USD, up 93.1% in value and 78.2% in volume (in the same period in 2023, Vietnam did not import wheat).

Seafood products continued to maintain a downward trend in recent months, reaching 64.1 million USD (down 11.1%); other petroleum products reached 988 thousand USD (down 47.2%); electric wires and cables continued to decrease sharply, reaching 146 thousand USD (down 70.6%); chemical products reached 1.1 million USD (down 24.7%); iron and steel of all kinds reached 177 thousand USD, down 82.7% compared to the same period last year.

Source: https://congthuong.vn/phan-bon-tiep-tuc-dung-dau-danh-sach-tang-truong-nhap-khau-cua-viet-nam-tu-lien-bang-nga-342775.html