Vietnam-Europe Trade to Hit US$20.54 Bln This Year
Bilateral trade between Vietnam and Europe is expected to increase 22.5 per cent to US$20.54 billion this year, said the European Market Department under the Ministry of Industry and Trade (MoIT).
Of the sum, Vietnam will export US$12.15 billion worth of goods to the market, up 22 per cent on-year and import US$8.39 billion, up 25 per cent.
The European Union (EU) will remain Vietnam’s largest export market with estimated value of US$11.18 billion, up 23 per cent on-year and making up 92.1 per cent of the country’s export turnover to the continent.
Vietnam’s main exports to the EU include foot wears, apparels, seafood products, coffee, wood and plastic products, electronic and computer produces, handicrafts and fine arts, rubber, pepper, tea, bicycles and accessories.
The EU is currently Vietnam’s second biggest exporting market after the US.
The country is forecast to spend US$6.42 billion on importing goods from the 27-member union, said the department. (Vietnam Economic Times)
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