MOSCOW, Mar 27 Western sanctions hit Vietnamese exports to Russia, causing them to fall by almost 60% year-on-year, VnExpress reports.
“Vietnam’s exports to Russia fell by almost 60% year on year to $205 million in the first two months of 2023, exports of iron and steel, footwear and electronics have all but come to a halt, while exports of agricultural products such as rice, vegetables and seafood decreased by 20-50%.
It is clarified that rubber, clothing and coffee were the only goods whose exports increased.
According to VnExpress, sanctions against Russia limit its trade activities with other countries, including Vietnam. Major shipping lines and airlines have stopped operating in Russia, making it harder for Vietnamese businesses to ship goods for export.
«Businesses are showing increasing interest in establishing trade partnerships with (Russian — ed.) partners, the number of companies participating in fairs and exhibitions is increasing. Many Russian entrepreneurs want to sell agricultural products, clothes and shoes from Vietnam «, — the publication notes with reference to the data of the Vietnamese trade mission in Russia.