Two-way trade value between 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 22^nd 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.

Source: VOV News