Commerce between Vietnam and Israel: The trade deficit is being shortened

According to the Vietnam Commercial Affair in Israel, the trade deficit from Israel has been shortening and dropped to USD 69.6 million in the first 6 months of the year 2020.

The trade deficit was declined

From the statistic of the Vietnam Commercial Affair in Israel, the two-way commercial exchange between Vietnam and Israel in the first 6 months in 2020  reaches USD 791.0 million. Import from this market increased 391.6% while export decreased 11.0% compared with last year.

The import turnover of Vietnam increased mainly by the products of computer, electronic products and components which were imported from Israel with a large value in some first months of this year. The trade gap from Israel has been shortening and dropped to USD 69.6 million in the first 6 months of 2020, though.

The Vietnam Commercial Affair in Israel added: In the first 6 months of this year, almost the staples exported to Israel were decreased in comparison with the last year such as seafood, footwear, cashew nut, coffee, mobile phone; except for textile and garment products which were increased sharply. This is the common context since the pandemic impacts strongly on the markets of many countries in the world.

For importing, almost the products of the machine, facility, tool, accessory, vegetables were decreased while computers, electronic products and components were sharply increased leading to the trade deficit from Israel reached USD 69.6 million in the first 6 months of 2020.

Actually, the economy and production of the enterprises as well as the trade exchange with Israel in the first half of this year were strongly affected by the pandemic. In the current context, many companies from Israel is concerning to import from Vietnam the products of food, consumer goods, household appliances, medical equipment and instrument (medical rubber gloves and protective equipment for epidemic prevention) in order to serve for consumption demand in their country.

Besides, some relevant organizations and enterprises from Israel are interested in cooperating with Vietnam business partners for the branches of start-up, applying technology and technical solutions in productive activities, shifting investment and chains of production to Vietnam.

The potential market for seafood export

The information from the Vietnam Commercial Affair in Israel as well, in the first 6 months this year, exporting tuna to Israel gained USD 13,778 million, get 4.71% the total export turnover of this goods in our country, Israel is also one of ten potential markets which are importing tuna of Vietnam; frozen shrimp reached USD 3,737 million, make 0.25% the proportion of the total export turnover in our country; frozen squid gained USD 2,413 million, 1.01% the total export turnover of this goods in our country, Israel is the ninth of ten markets importing squid from Vietnam (comes after Japan, Korea, Thai, China, Hong Kong, Italia, Malaysia, Philipines, The United State and comes before Taiwan); pangasius goods gained USD 1,727 million, 0.26% the proportion of export turnover in the whole country.

Currently, Isreal is the forty-eighth of 100 export markets where Vietnam has exported the seafood to.

In addition, some enterprises from Israel concern to goods of fillet pangasius, canned food, agricultural products, garment products and are going to deal with Vietnam enterprises for signing contracts in the future.

Vasep.com.vn

Leave a Comment

1