Israel - Vietnam Trade relations
  • Economic & Trade Affairs

Israel-Vietnam Trade Relations

    The Israeli economy grew in Q3 of 2011 at an annual rate of 3.4%, despite the world economic crisis. This rate is similar to the one shown in 2010. Private consumption has risen by a mere 0.9% compared to Q2. Despite this slowdown, Israeli economy grew at one of the fastest rates in the OECD countries.
    Table: Israeli economic growth 
    The bilateral trade between Israel and Vietnam is growing steadily, reflecting a growing mutual interest of both business and industrial sectors. 
    In 2010 and 2011, more mutual cooperation agreements were signed, facilitating the trade between the sides. Amongst these, the Amendment to the Financial Protocol between the sides and the Shipping agreements are expected to have a vast impact on the bilateral trade.
    The bilateral trade in 2011 reached 532M USD$:
    Israeli exports to Vietnam reached 334M USD$, a 173% increase Y-O-Y. Israel mainly exports electronics & machinery (60%), chemicals and minerals
    Israeli imports from Vietnam reached 198M USD$, a 51% increase Y-O-Y. Israel mainly imports natural products (35%) and textiles & shoes (28%) from Vietnam.