HANOI: United Arab Emirates has surpassed Germany and Hong Kong to become Vietnam's fifth largest export market, trailing behind the U.S., China, Japan, and the Republic of Korea.
The vietnamnet.vn quoting Vietnam Customs statistics has said that Vietnamese total exports to the U.A.E. in the first five months of the year jumped 27% year on year, tallying in at U.S. $2.03 billion.
It is now forecasting the total export turnover to the U.A.E. to hit a record US$2.4 billion in the first half of this year, a significant year-on-year increase of 25%. The country's key export items to the U.A.E. include mobile handsets, computers, electronic products, pepper, textiles, and footwear.
Some items saw a sharply decrease such as tea (down 50%), and paper (down 32%).
Handbags, suitcases, hat, umbrella recorded the highest export turnover growth rate of 305% in the first five months of the year, followed by machinery and equipment (up 169%), vegetables (up 116%), vehicles and spare parts (up 97%), rice (up 91%), garments and textiles (up 91%), and computers, electronic products and components (up 80%).