Vietnam’s exports to Germany rise by 30.5% in 10 months

Monday, 21/11/2022 16:23
By the end of October 2022, Vietnam-Germany bilateral trade turnover totalled nearly 10.6 billion USD, up 17.6% over the same period last year. In which, Vietnam’s exports to Germany reached more than 7.6 billion USD, up 30.5%, according to the Ministry of Industry and Trade.
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Meanwhile, imports from Germany posted over 2.96 billion USD, a slight decrease from the same period last year. Vietnam’s main export items are machinery, equipment, telephone, footwear, garments and textiles, coffee and seafood. Main import items include machinery, equipment, pharmaceuticals, chemicals, auto parts and components.

Germany is now Vietnam’s biggest trade partner in Europe, making up 20% of the country’s total export turnover to the EU, and is also an important transshipment gateway for Vietnamese goods to other countries in the region.

For Germany, Vietnam is a potential market and an important trading partner, especially in the context that the EU-Vietnam Free Trade Agreement (EVFTA) has come into effect and promoted its effectiveness after 2 years of development./.