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VietNamNews

Exports to Africa increase sharply

Update: November, 29/2012 - 10:40

HA NOI (VNS)— Viet Nam's exports to most large African countries have surged over the past 10 months, according to the General Customs Department of Viet Nam.

The country's exports to Nigeria soared 100 per cent against last year to reach US$100 million.

Key export items included computers, electronics and components, transport equipment and garments. Export earnings from Angola and the Ivory Coast also rose considerably, increasing by 80 per cent to $102.14 million and 54 per cent to $211 million, respectively.

Three other markets recorded high growth rates: Egypt (28 per cent to $261.39 million), Ghana (59 per cent to $176 million) and Algeria (35 per cent to $110 million).

Conversely, export turnover to South Africa and Senegal declined sharply. The former went down 70 per cent to $534 million mainly due to a slump in demand for Vietnamese precious stones and metals, while the latter sank 53 per cent to $86.45 million against the same period last year as the country shifted to cheaper Indian rice.

Currently, eight reviewed countries accounted for 68 per cent of Viet Nam's total export value to the African bloc.

Experts urged Vietnamese businesses to be proactive in overcoming obstacles such as geographic distance, high transport costs, trading through intermediaries and language barriers.

Domestic businesses should also step up marketing activities, conduct market surveys, join biddings for construction projects and seek more chances to export construction materials, said Ly Quoc Hung, director of the Africa-West-South Asia Markets Department under the Ministry of Industry and Trade. — VNS

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