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(2015-08-10) Trade Relations Between Vietnam And South Africa Is Strongly Growing
2015-08-10 00:00:00

TRADE RELATIONS BETWEEN VIETNAM AND SOUTH AFRICA IS STRONGLY GROWING

 Source: Secretariat of China Business Association Ho Chi Minh City

 

Trade relations between Vietnam and South Africa is strongly growing, total export-import revenue in the first 6 months of 2015 reached $ 593.16 million. Meanwhile, Vietnam exports to South Africa reached  $ 536.9 million, imports from this market is only  $ 56.26 million,  so the trade surplus of the year was  $ 480.64 million.

During the last 5 years, South Africa invested over 100 billion of US dollar in infrastructure, and has intention to invest 400 billion of US dollar in 15 years to come. This is a good opportunity for Vietnam to boost exports, especially exports of cement product which Vietnam has advantages.

However, two countries have not established a direct banking relationship, which is causing difficulties in payment of bilateral import and export goods. The two countries do not have direct air and maritime routes, which is another trade barrier. In addition, Vietnam enterprises have not paid adequate attention to potential markets in Africa in general and South Africa in particular. They have not paid much attention to information, geographical surveys, participating in fairs or shows... 

Prospects for cooperation between Vietnam and these countries vary greatly as favorable conditions of politics, while other countries need to import key export items of Vietnam, especially rice. South Africa could act as a center to promote relations with other countries in southern Africa, the basis for logistics activities and to promote activities of Vietnam enterprises in African countries.

 

 

Preliminary statistical data of GDC of exports to South African for the first 6 months of 2015

Goods

June 2015

(Million USD)

June 2014

(Million USD)

+/-(%)

Total exports

536.9

380.15

+41,23

Mobile phones and spare parts

280.5

206.6

+35,76

Computers, electronics and spare parts

104.8

26.89

+289,81

Footwear 

49.47

41.23

+19,99

Machinery, equipment, tools and other spare parts

13.95

13.34

+4,52

Textile

99.72

11.28

-11,63

Pepper

87.73

73.70

+19,04

Rice

86.68

87.44

-0,87

Cashew

58.94

40.67

+44,93

Wood Products

58.41

40.67

+43,62

Coffee

54.11

14.46

-62,60

Iron products

49.12

35.99

+36,46

Chemical Products

38.34

36.54

+4,92

Transport equipment and spare parts

26.05

23.36

+11,49

Candy and cereal products

17.24

90

+91,12

Plastic materials

37

70

-47,59

 

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