Business

Uptick in exports to key African nations

Vietnam's exports to major African markets recorded high growth over the past five months of this year, the Vietnam Economic News reports.
Vietnam's exports to major African markets recorded high growth over thepast five months of this year, the Vietnam Economic News reports.

Majorexport products included mobile phones and components, computers,electronic products, means of transport, machines and equipment, as wellas footwear, garment, and construction materials.

South Africaremained Vietnam's largest importer, contributing 439 million USD to thecountry's export revenue, a year-on-year rise of 39 percent, the onlinenewspaper reported, quoting statistics from the Department of Africa,West Asia, and South Asia Markets under the Ministry of Industry andTrade.

Vietnam's exports to Egypt also grew by 5 percent to146.6 million USD while that to Ghana saw a yearly rise of 15 percent to95.8 million USD.

During the reviewed period, Vietnam's exportsto Tanzania obtained the highest growth of 150 percent to 37.5 millionUSD with rice, computers, and components being key items.

Meanwhile,the country also generated 22 million USD from its exports to Senegal,surging 49 percent against the corresponding period last year, and 17.2million USD from Kenya, up 23 percent.

Conversely, its exports to some other markets in the bloc showed turnover declines.

Thecountry's exports to Nigeria experienced the sharpest decrease of 44percent on-year to hit 47.3 million USD as Vietnamese enterprises wereworried about Nigeria's unstable political situation and the effects ofEbola epidemic.

Slumps in the shipment of rice and garmentresulted in a 35 percent yearly decrease in the country's exports toAngola. During January-May period, Vietnam's exports to the marketreached only 20.8 million USD.

Export earnings from Ivory Coastand Mozambique also plummeted modestly at 7 percent and 2 percent to54.5 million USD and 25.2 million USD, respectively, mainly due to afall in the turnover of major export items such as textile and garment,construction materials, and rice.-VNA
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