Bilateral trade between Vietnam and Russia in 2020

According to statistics of Vietnam Customs, in 2020, two-way trade turnover between Vietnam and Russia reached 4.85 billion USD, up 8% compared to 2019. Specifically: 

a) Export turnover of Vietnam to the Russian Federation in 2020 reaches 2.85 billion USD, up 7% compared to 2019.

The items with good growth rates include: seafood (31.9%); vegetables and fruits (58.7%); wood and wood products (32.3%); rubber products (171.8%); rattan, bamboo and rattan products (28%); computers, electronic products and components (29.6%).

Table 1: Export turnover of main products of Vietnam to Russia in 2020

                                                                                                             Unit: USD

Items

2019

2020

Increase / decrease in 2020 compared to 2019 (%)

Seafood

102.95

135.80

31.9

Vegetables and fruits

34.29

54.40

58.7

Cashew

50.35

40.23

-20.1

The coffee

168.10

138.20

-17.8

Tea

22.39

21.51

-3.9

Textiles

254.85

242.89

-4.7

Footwear

165.65

162.97

-1.6

Computers, electronic products and components

347.40

450.22

29.6

Phone types and accessories

1017.29

1090.80

7.2

Other machinery, equipment, tools and spare parts

105.75

120.35

13.8

Although Vietnam’s exports to the Russian Federation fell sharply in the first months of the year due to the Covid-19 epidemic, in the year 2020 Vietnam’s exports to the Russian market still grew quite impressively due to continuous growth in the second half of the year. , Vietnam’s exports to the Russian Federation both increased over the same period in 2019 (only in October 2020, a slight decrease of -0.1%), specifically: June 2020 increased 22% compared to June 2019, July 2020 an increase of 42.2% compared to July 2019, August 2020, an increase of 24% compared to August 2019, September 2020, an increase of 40% compared to September 2019, and November 2020 by 24% compared to November 2019 and December 2020. 36% increase compared to December 2019. In which, the items with the largest contribution to growth are still the items with the largest proportion in the total value of exports (accounting for 54% of total exports) such as phones and accessories (average increase in 7 months: 82 %); computers, electronic products and components (60% average growth).

Table 2: Comparison of export turnover of Vietnam to the Russian Federation

in 2 years 2019-2020

                                                             Unit: million USD

2019

2020

Up and down (%)

1 T

229.8

155.3

-32.4

2 T

412.2

336.8

-18.3

3 T

680.9

552.5

-18.9

4T

930.8

756.3

-18.8

5T

1173.7

970.4

-17.3

6T

1412.3

1261.6

-10.7

7T

1662.1

1617.8

-2.7

8T

1891.9

1903.3

+0.6

9T

2,093

2,173

+3.8

10T

2,301

2,381

+3.4

11T

2,510

2,639

+5.2

12T

2,666

2,851

+7

b) Vietnam’s import turnover of goods from Russia in 2020 will reach US $ 2 billion, up 9.6% from 2019.

The import commodity groups with strong growth rates include: raw plastic (619.4%); types of petroleum (132.6%); wood and wood products (87.8%); other petroleum products (41.3%); paper (34.3%), medicine (63.6%).

Table 4: Import turnover of main products of Vietnam from Russia in 2020

                                                                                                                  Unit: million USD

Items

2019

2020

Increase / decrease as compared to the same period in 2019 (%)

Seafood

105.6

108.98

3.2

Wheat

208.65

139.82

-33.0

Ores and other minerals

127.62

55.79

-56.3

Coal

633.81

611.02

-3.6

Petroleum types

36.66

85.29

132.6

Fertilizers of all kinds

104.63

110.18

5.3

Plastic materials

4.94

35.53

619.4

Wood and wood products

30.24

56.80

87.8

steels

184.95

207.23

12.0

Common metals

33.13

32.55

-1.8

Other machinery, equipment, tools and spare parts

36.16

32.53

-10.0

Whole car of all kinds

94.37

50.12

-46.9

 

According to statistics of the Russian Federation Customs, in the first 11 months of 2020, Vietnam – Russia bilateral trade reached 5.14 billion USD, up 13.7% over the same period in 2019. Export turnover of Vietnam to the LB Russia reached 3.73 billion USD, up 7.4%; Vietnam’s import turnover from Russia reached US $ 1.4 billion, up 34.8% over the same period in 2019.

Vietnam Trade Office in Russi

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