Hanoi: The UAE has surpassed Germany and Hong Kong to become Vietnam’s fifth largest export market. The top four export destinations for Vietnam are the US, China, Japan, and South Korea in that order.
Quoting Vietnam Customs statistics, the vietnamnet.vn website said that total Vietnamese exports to the UAE in the first five months of the year had jumped 27 per cent year on year, tallying $2.03 billion (Dh7.45 billion). It is now forecasting that the total export turnover to the UAE will hit a record $2.4 billion in the first half of this year, a significant year-on-year increase of 25 per cent. The country’s key export items to the UAE include mobile handsets, computers, electronic products, pepper, textiles, and footwear.
Some items saw a sharp decrease such as tea (down 50 per cent), and paper (down 32 per cent).
Handbags, suitcases, hats and umbrellas recorded the highest export turnover growth rate of 305 per cent in the first five months of the year, followed by machinery and equipment (up 169 per cent), vegetables (up 116 per cent), vehicles and spare parts (up 97 per cent), rice (up 91 per cent), garments and textiles (up 91 per cent), and computers, electronic products and components (up 80 per cent).
