According to the Vietnam Customs, for the first seven months of 2018 Russia-Vietnam trade turnover has amounted to $2.67 bn, it is a 34.2% increase compared to the same period of the previous year.
Vietnam’s export to Russia has increased by 21% and reached $1.47 bn, while its import from Russia has grown by 55% and stood at $1.2 bn.
Wheat is the main export good of Russia. For the first seven months of 2018 Vietnam has imported Russian wheat worth $358 mln, it is 32 times as much as compared to the same period of 2017. This figure accounts for almost 30% of all Russia’s import to Vietnam in terms of value.
For the first time Vietnam has imported from Russia coal worth $145 mln. Coal has been the second major commodity exported by Russia to Vietnam in terms of value.
Besides, Vietnam has imported metals, fertilizers, machinery and equipment, oil products. These commodities have accounted for 75% of all value of goods imported by Vietnam from Russia.
In its turn, Vietnam has exported to Russia such goods as telephones and its parts ($710 mln, +15.6%), electronics and parts ($120 mln, +81%), textile and garments ($94 mln, -9.4%), footwear ($62 mln, +6.5%), seafood ($53 mln, +11%).
The ministries of agriculture of Iran, Russia and Kazakhstan have concluded a trilateral memorandum of understanding on the issue of wheat trade.
Trade turnover between Russia and Germany increased 8.4% and reached nearly ˆ62 billion ($70 billion) in 2018 compared to previous year.
In 2018 Russia’s meat export amounted to 288.5 thous. t, it is a 21% increase compared to 2017.
About the models of business development in another country and professional secrets is told by a practicing expert on work in international markets Anna Trubetskaya