Vietnam exports to some Africa nations fall
Vietnam’s exports to some large African countries plunged in February, the Ministry of Industry and Trade said.
Exports to Senegal plummeted 75 per cent against the same month last year to hit US$4.38 million.
Export earnings from Egypt, the Ivory Coast and Ghana plunged 40 per cent to $34 million, 59 per cent to $4.8 million and 13 per cent to $13.2 million respectively.
Rice exports to the Ivory Coast slumped 83 per cent to $1.68 million while to Senegal it slumped 87 per cent to $1.6 million.
The fall in rice exports was partly due to fierce competition from cheaper Indian and Thai rice with which it was difficult to compete because of the distance to Africa increasing transport costs, Nhuan said.
Conversely, export turnover to four other Africa markets showed stable growth across a range of goods. South Africa continued to be Vietnam’s largest trade partner in the bloc, importing $97 million worth of goods, including mobile phones and components, footwear, chemical products and garments – up 24 per cent year-on-year.
It was followed by Algeria $35.2 million (up 5 per cent), Angola $16.5 million (up 42 per cent) and Nigeria $16 million (up 15 per cent). Eight countries accounted for 65 per cent of total export value to the African bloc.