Two-way trade turnover between Vietnam and Australia reached a record $15.7 billion in 2022, an increase of 26.91 per cent against 2021, according to the Vietnam Trade Office in Australia.

Many of Vietnam’s essential exports posted high growth in the context of myriad challenges. Machinery, equipment, tools and spare parts surged 62.1 per cent, footwear 41.3 per cent, textiles 26.3 per cent, aquatic products 37.3 per cent, iron and steel of all kinds 102.9 per cent, coffee 62.53 per cent, and electrical wiring and cables 81.2 per cent.

Australia remains a key supplier of raw materials for domestic production in Vietnam, such as coal, cotton, ore, other minerals, and wheat. These products account for about 80 per cent of Vietnam’s import volume from Australia.