Vietnam - Australia trade goes up 37% in eight months

Trade revenue between Vietnam and Australia approximated 11 billion USD in the first eight months of 2022, up over 37% from a year earlier, statistics show.

Notably, Vietnam’s exports to Australia surged 42% to 4.9 billion USD, according to Vietnam’s trade office in the country.

Among the main exports to Australia, fishery products brought home 248 million USD, up 49%, and steel raked in 142 million USD, up nearly 233%.

Timber and wood products and confectionery also saw an impressive increase with 135 million USD and 50 million USD, respectively.

Meanwhile, imports also rose nearly 35%, with input materials for production such as coal, iron ore, metal, and wheat being the main commodities purchased from Australia.

Vietnam’s trade office in Australia attributed the impressive export growth to the increasing diversity and competitiveness of Vietnamese goods, efforts by Vietnamese firms to help their products get a foothold in the Australian market, and localities’ support for businesses in trade promotion./.