Two-way trade between Vietnam and Israel hit US$236.58 million in the first two months of this year, with the latter enjoying a trade surplus, according to the Vietnamese Trade Office in Israel.

Vietnam’s two-month export to Israel rose 4.5% while its import skyrocketed 376% compared to the same period last year, said Counsellor Le Thai Hoa.

Seafood is one of Israel's favourite import items from Vietnam

The sharp rise in the import was attributed to Vietnam’s decisions to re-import Israeli computers, and electronic products and components, resulting in a trade deficit of US$19.62 million.

In the reviewed period, Vietnam shipped over US$6.244 million worth of tuna to Israel, making up 6.6% of the country’s turnover from its total export of the fish, and down 32% year-on-year.

It also earned US$752,000 from exporting frozen cuttlefish to Israel, accounting for 1.14% of the total of the product, and increasing 335.6%.

Currently, Israel is one of Vietnam’s 10 biggest tuna and cuttlefish importers.

The Vietnam Trade Office forecast that Vietnam’s exports to Israel during the first quarter of this year would bring home US$163 million while its imports would rise to US$192 million.