Vietnam Time

5/13/2019 7:54:24 AM

South Africa continues to be Vietnam's largest trading partner in Africa

South Africa continued to be Vietnam's largest trading partner in Africa in 2018 with twoway trade value of over US $ 1 billion, marking a 11.7% year-on-year increase.

The figure also accounted for 16% total trade turnover between Vietnam and African continent.

Rice export (Illustrative photo: TL)

According to the Vietnamese Trade Office in South Africa, last year Vietnam exported more than USD 724 million worth of goods to South Africa, down 3.7% compared to 2017. Meanwhile, import value hit over USD 386 million, up 59%.

Regarding the 3.7% decline, Head of the Vietnam Trade Office in South Africa, Dao Manh Duc said, this was actually a decrease of export from FDI enterprises in Vietnam with mobile phones and electronic components being the key products. Although this group still outweighs others in terms of value, its export value was only USD 227 million in 2018, a decrease of 22% compared to 2017.

In addition to mobile phones, footwears and computers, electronic devices continue to be the two key exports to South Africa with the value of over USD 108 million and over USD 96 million respectively.

Regarding agriculture produce, while Vietnam's coffee exports to South Africa achieved an impressive growth of 108.4% (from USD 8 million in 2017 to USD 17 million in 2018) pepper exports decreased by 37% (a decline of over USD 9 million.

In the other hand, Vietnam imported commodities and goods worths USD 386 million from South Africa, up 59.5% thanks to the impressive growth of vegetables, fruits and wooden products with an increasing turnover of nearly 47% and 35.5%, respectively. Meanwhile, metal, the one with the largest value among all South Africa’s exports to Vietnam recorded a 3.3% decrease in trade value./.

  ( Translated by P.Y )
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