VN gains record trade surplus with Australia

16:33 | 31/08/2014

VGP – Viet Nam posted a record trade surplus of US$ 1.22 billion with Australia in the first seven months of 2014, representing a year-on-year surge of 38.2%, according to the Viet Nam Trade Office in Australia.

Illustration photo

Viet Nam chiefly shipped crude oil, telephones and components, seafood, cashew nuts, timber, garment and textiles, footwear, machinery, and equipment to Australia.

Crude oil topped the list of export by earning US$1.29 billion, representing a 73.3% year-on-year increase; followed by telephones and components (US$215.81 million) and aquatic products (US$123.07 million).

Gross exports from iron and steel to Australia saw the highest growth rate hitting US$21.75 million over seven months, up 205.3%.

Meanwhile, the Southeast Asian country mainly imports timber products, plastic materials, oil, steel scraps, minerals, and input materials for garment and footwear industries from Australia./.

By Kim Loan