Vietnam’s export to Africa grows 30-35 pct a year

Vietnam’s export to Africa in recent years has grown strongly to $1.79 billion in 2010, a year-on-year rise of 20% and a 10-fold increase against 2001 while its import spending from Africa reached $767 million.

Vietnam has import relationship with most 54 African countries, including South Africa, Egypt, Ivory Coast, Senegal, Algeria and others.

The major export items from Vietnam to Africa are rice, precious stone, seafood, coffee while the import commodities include cashew, cotton, scrap steel, wooden products.

African market had large demand on Vietnamese goods, especially agricultural products and consumer items, an official from the Africa-West Asia-South Asia department said. African nations demand to import a goods value of $500 billion a year while Vietnam’s export goods structure is fairly appropriate to Africans’ demand. Annual growth of Vietnam’s export to Africa gains 30-35%.

However, disadvantages of Vietnamese enterprises in foreign trade with African countries are long distance, limited payment capacity, political upheavals in some countries, weak infrastructure, export via intermediary stage, average trading cost that remains high. – Vietbiz24

Tags: Vietnam export to Africa

Posted by VBN on Mar 18 2011. Filed under Import-Export, Import-Export turnover. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry