Vietnam’s export turnover to Germany enjoyed a year-on-year surge of 30.5% to 7.6 billion USD in the first 10 months of this year, according to the Ministry of Industry and Trade.

Meanwhile, the import value was 2.96 billion USD, a slight decrease compared to the same period of last year.

In the period, two-way trade reached nearly 10.6 billion USD, up 17.6% year-on-year.

Vietnam mainly shipped machinery, component parts, automobile, footwear, garment and textiles, coffee and aquatic products to Germany, while importing machines, components, parts, pharmaceuticals, chemicals, and automobile spare parts to the European country.

Germany is currently Vietnam’s biggest trade partner in Europe, accounting for 20% of the Southeast Asian country’s total trade value to the EU.

For Germany, Vietnam is a potential market and an important partner, especially in the context that the EU-Vietnam Free Trade Agreement proves effective after the over-two-year implementation.

Source: VietnamPlus

• Resolution No. 10-NQ/TW marks pivotal shifts in Viet Nam's foreign investment attraction strategy
• The AI boom propping up markets could trigger the next crash, central banks warn
• EU offers steel promises to partners
• Growth driven by logistics hubs
• Viet Nam's tilapia exports maintain strong growth momentum