Vietnam's export revenue to Russia slightly down in Q1

Vietnam's export revenue to Russia went down slightly by 0.48 percent year-on-year to hit 415.9 million U.S. dollars, said General Department of Vietnam Customs on Monday. Vietnam's major export products to Russia during three-month period included cell phones, accessories and coffee, said the department. Cell phones topped the export revenue with 173.3 million U.S. dollars, accounting for 41.6 percent of Vietnam's total export revenue to Russia during the first three months of 2014. Coffee ranked the second with 35.1 million U.S. dollars, up 23. 63 percent year-on-year. The country also experienced growth in most of its export items to Russia, including cassava and its products, garment, computer and accessories, footwear, seafood, petroleum among others, said Vietnam Customs. Russia is Vietnam's traditional trade partner and Vietnamese companies consider Russia a potential export market. However, the export revenue to the market is not commensurate with the two countries'potential, assessed Vietnam Industry and Trade Information Center under Vietnam's Ministry of Industry and Trade on Monday. Vietnam and Russia established diplomatic ties in 1950. In 2013, the two-way trade turnover hit 4 billion U.S. dollars.