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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