Vietnam Enjoys Trade Surplus to Europe

Vietnam's export value to Europe totaled US$33.39 billion in the first seven months of 2022, up 14.5% year on year and accounting for 15.4% of the country's total exports, according to the General Department of Vietnam Customs. Vietnam's import value from Europe was US$11.97 billion, down 4.8% from the same period of 2021. The country thus enjoyed a trade surplus of US$21.42 billion with the European market in the seven-month period.

Vietnam's key exports to the EU and Europe included electronics, apparel, and footwear. Computers, electronic products and components valued US$4.25 billion; telephones and components brought home US$3.8 billion; footwear made US$3.45 billion; machinery, equipment, tools and spare parts generated US$3.25 billion; and apparel earned US$2.58 billion.

By market, Vietnam's leading trading partners in Europe are EU members like the Netherlands, Germany, France and the UK. According to data from the General Department of Vietnam Customs, the trade value between Vietnam and Sweden was up 16.9% year on year to US$960.37 million, and the trade value with Denmark was US$438.25 million, up 22.2%.

H.Ly (Vietnam Business Forum)