Vietnam has a 3 billion USD trade surplus with the UAE market

DNHN - Vietnam is expected to have a 3 billion USD trade surplus with the UAE in the first eight months of 2022. For instance, Vietnam's entire export turnover of non-petroleum products to the UAE is valued at 3 billion USD, while Vietnam's total import turnover from the UAE is projected at 300 million USD.

The entire two-way trade turnover between Vietnam and the UAE declined by 5.63% in the first eight months of the year compared to the same period in 2021. The explanation was a drop in mobile phone and component shipments owing to a shortage. The supply of input materials and the prices of input costs both increased.

The overall two-way trade transaction between Vietnam and the UAE is anticipated to reach $3.3 billion in the first eight months of 2022.

Vietnam has a trade surplus with the UAE, although the Vietnam Trade Office at the UEA advises that the UAE is an open market with numerous rivals. Importers are continually putting pressure on exporters to acquire the best price possible. Because this is a Muslim country, food and beverage goods, among other things, require Halal certification...

Vietnam's strong commodity groupings, such as seafood, vegetables, pepper, cashew, rice, footwear, clothing, machinery, equipment, and spare parts, continued to rise strongly.

To sustain export performance to this market, Vietnamese firms should: Develop a suitable export strategy to the UAE so that export products can be competitive in price and quality with similar items on the market.

P.V