Viet Nam emerges as EU’s biggest trade partner in ASEAN

The Ministry of Industry and Trade (MoIT) reported that after four year since the EVFTA took effect (August 1, 2020, Viet Nam has occupied the biggest market shares among ASEAN member states in the EU’s market.

Last year, trade between Viet Nam and the EU hit US$72.3 billion, representing a year-on-year decline of 5.3 percent.

A series of made-in-Viet Nam exports were on the rise namely aquaculture (up 29.5 percent), fruits and vegetables (up 34.2 percent), footwear (up 49.7 percent), garments and textiles (up 43.4 percent), and furniture (85.2 percent). Viet Nam’s biggest export markets are the Netherlands, Germany, Italy, Belgium and France.

The Viet Nam Customs reported that in June, Viet Nam’s export turnover to the EU reached over US$4.28 billion, up 7.85 percent against the previous month and 19.54 percent against the same period last year.

In the first six months, Viet Nam's export turnover increased by 15.37 percent to over US$4.28 billion.

Specifically, export value to the Netherlands hit over US$6.14 billion, accounting for 24.88 percent of total export turnover to the EU, up 27.12 percent against the same period last year.

Germany was the second largest export market with US$3.82 billion, followed by Italy with US$2.53 billion, and Spain with nearly US$1.97 billion./.