Two-way trade turnover between Vietnam and Australia hit A$23.5 billion ($16 billion) in 2022, a year-on-year rise of 27 per cent.

In particular, the trade of agriculture, forestry and fishery products topped A$6 billion ($4 billion) for the first time, or more than double the figure in 2021.

The figures were revealed at a workshop on agricultural food held in Hanoi on March 27, as part of series of activities marking the 50th anniversary of Vietnam-Australia diplomatic ties. The workshop drew the participation of 400 businesses, organizations, and associations in the two countries.

Vietnam has been one of the fastest-developing trade partners of Australia in recent years, with two-way trade turnover surging 27 per cent in 2022 against 2021, to A$23.5 billion ($16 billion), according to Ms. Tran Huong, Marketing Director of Austrade.

Vietnam is currently Australia’s tenth-largest trading partner while Australia is Vietnam’s seventh-largest.