Around US$700-million-worth Vietnamese Goods Stuck In Suez Canal
14:51 | 31/03/2021

VGP – Viet Nam has had around US$700 million worth of goods stuck in Suez Canal due to the Ever Given’s blockage from March 23-29, according to the Department of Import and Export under the Ministry of Industry and Trade. 

The stranding of the 400m-long container ship Ever Given in the Suez Canal where over 10% of global cargo and 7% of the world’s oil are transshipped is raising concerns about visible impacts on export activities of several Vietnamese enterprises, despite initial successes in the attempt to rescue this megaship.

The 200,000-ton MV Ever Given veered off course in the Suez Canal from March 23-29. The incident causes global economic losses of up to US$9 billion each day, worsening the supply chain which is seriously affected by the COVID-19 pandemic.

In the first two months of 2021, Viet Nam’s export and import from Europe reached US$7.5 billion and US$3.1 billion, up 18% and 12%, respectively against the same period last year. 

Last year, Viet Nam earned US$ 43.7 billion from exporting goods to Europe and imported US$ 18.5 billion of goods.

So far, commodity exchanges between Viet Nam and Europe are chiefly made by sea via Suez Canal while a small amount of cargo transported by air and rail, thus the blockage posed heavy impacts on trade activities between the two sides.

By Thuy Dung

  Reader opinion
Turn off Vietnamese typing Automatic typing Telex VNI VIQR  
Fullname Email address