VN-EU trade relations expand sharply

VGP – The two-way trade turnover between Viet Nam and the EU was estimated at US$ 21.2 billion in the first six months, representing a year-on-year growth of 9.05%, according to the Ministry of Industry and Trade (MoIT).

August 12, 2016 2:51 PM GMT+7

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In the January-June period, Viet Nam’s shipment to the market was worth US$ 16.2 billion, up 8.68% against the same period in 2015. The country imported US$ 4.97 billion of goods, up 10.28%.

Viet Nam chiefly shipped traditional products, including garments, textiles, footwear, coffee, aquatic products, and computers.

As of 2015, the shipment of telephones and spare parts hit over US$ 9.7 billion, accounting for around 75% of Viet Nam’s total export turnover from the EU.

Over the last 15 years, the two-way trade turnover between two sides increased ten times from US$ 4.1 billion in 2000 to US$ 41.4 billion in 2015.

Viet Nam’s export turnover to the EU surged 11 times from US$ 2.8 billion to US$ 30.8 billion. Meanwhile, Viet Nam’s import volume went up eight times from US$ 1.3 billion to US$ 10.4 billion./.

By Khanh Phuong