Vietnam export to Africa and Myanmar soars

Economists predict that the Vietnam export to Africa would increase by 20 per cent to $3.12 billion in 2013.
Vietnamese rice is much consumed in Africa

In January, the total shipment of commodities to Africa was $62.9 million, mainly telephones and components ($34.3 million), footwear ($8.1 million), cashew nuts ($261.4 million), and coffee ($1.436 million).

Senegal’s imports from Vietnam earned $2.93 million including rice ($1.39 million), garments and textiles ($161,300) and means of transport and components ($195.400) while Algeria’s imports reached $18.9 million, including rice ($4 million) and coffee ($9.9 million).

Vietnam and Africa are determined to seek a vigorous growth of trade exchange and Africa remains Vietnam’s potential market for export.

Vietnam’s exports to Africa have annually increased by 20 per cent, earning around $2.6 billion last year. Its major markets include Algeria, Angola, Mozambique, Ghana, Egypt, Nigeria, Cote d’Ivoire and Morocco

These countries import mostly rice, coffee, pepper, seafood, computers, electronics and components, telephones, means of transport and components, machinery and equipment, garments and textiles, and footwear from Vietnam.

Vietnamese rice is much consumed in Africa. Africa is estimated to buy around 24-24.5 million tons of rice per year, including 10 million tons of imported rice from Vietnam.

Last year, Vietnam earned $900 million from rice exports to Africa, up 22 per cent from the previous year, and $264 million from telephones and components, up 104.7 per cent.

Africa is a major producer of cashew nuts, from which Vietnamese businesses expect to import a large volume of raw cashew nuts to reprocess for export to the US and EU.

In a related news, the General Department of Customs informed that the two-way trade between Vietnam and Myanmar hit $227 million in 2012, a year-on-year increase of 35.9 per cent,

Vietnam enjoyed a trade surplus of more than $8 million with Myanmar for the first time over the past decade, the department reports.

In 2012 Myanmar ranked 55th among 230 foreign exporters to Vietnam, shipping US$117.8 million worth of commodities, up 42.9 per cent compared to 2011.

The potential of trade exchange between the two countries are great as in ASEAN, Vietnamese exports to Myanmar account for just 0.7 per cent of its total exports to all ASEAN member countries.

In January 2013 its exports reached $13.7 million, increasing by 1.8 per cent over December 2012. Its major export items were steel products, machinery and equipment, garments and plastics.

Source SGT