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Two-way trade value Vietnam-Customs Union trade on the risebetween Vietnam and the Russia-Belarus-Kazakhstan Customs Union increased significantly in the past seven months of this year.

Bilateral trade between Vietnam and Russia rose 34 percent to fetch US$1.34 billion, according to the Vietnam Customs.

Of the total, Vietnamese exports generated US$821 million, up 34 percent, while imports hit US$516, up 39 percent year on year.

Phones and accessories were Vietnam’s major export item, making up 40 percent of the country’s total exports to the Russian market.

Russia is Vietnam’s 22nd largest trade partner.

Two-way trade between Vietnam and Kazakhstan also saw impressive growth of 91.3 percent to rake in US$41 million.

Vietnamese exports rose 220 percent to earn US$32 million, while imports went up 27 percent to gross US$9 million.

The Southeast Asian economy mostly shipped phones & accessories and seafood to the Central Asian nation, and imports steel and metals.

Meanwhile, bilateral trade between Vietnam and Belarus declined 31.7 percent year on year to US$100 million.

Notably, Vietnam earned just US$5 million from exports to this market, down 40.6 percent. Its major export staples included seafood and rice.

(VOV)

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