Trade between Vietnam and Australia is growing strongly, reaching US $ 1.38 billion in the first quarter of 2022, up 32% from the same period last year, according to the Vietnamese Customs Department.
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Photo: VNA / CVN
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Vietnam’s exports of various agricultural and industrial products, including coffee, grew strongly by 84%, aquaculture products by + 51% and rubber by + 41%. Iron and steel exports have grown by more than 500% year-on-year.
Australia is becoming a major supplier of essential commodities to Vietnam such as coal, iron ore, metals, cotton, wheat and animal feed, thus enabling the country to increase production.
Last year, two-way trade reached $ 12.4 billion, up 49% year-on-year. In the same year, the two countries finalized the signing of a strategy of strengthened economic engagement to become the first trading partner of other countries and to double bilateral investment.
VNA / CVN
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