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Germany is a biggest trade partner of Vietnam in Europe

20:59 | 06/07/2017

VCN – With total trade turnover achieved $US 3.859 billion, till the end of May 2017, Germany is the biggest trade partner of Vietnam in Europe currently. 

germany is a biggest trade partner of vietnam in europe
Chart of the turnover value of the 6 largest export commodities of Vietnam to Germany by the end of May 2017, the unit calculated "million dollars". Sketch by T.Bình

According to the latest information of the General Department of Customs, it showed in terms of export, the German market consumed goods from Vietnam that reached a total value of $US 2.628 billion, ranking at second place in Europe, just after Netherlands ($US 2.672 billion).

However, with the import turnover at the same time was $US 1.231 billion, the total value of trade turnover between Vietnam and Germany reached the highest figure among Vietnam’s customers in Europe (because of imports from the Netherlands only reached over $US 271 million).

Among the major export groups of Vietnam to Germany, there are 6 groups of goods reached the turnover of $US 100 million or more. In that, phone and accessories group was ranked in first place with the value of nearly $US 733 million (updated by May 2017). The next groups are: Raw materials of textile, garment, leather, shoes reached over $US 394 million; Coffee was near $US 270 million; Textile was $US 258 million; Computers, electronic products, and components reached $US 188.6 million; machinery, equipment, and spare parts was $US 143 million.

Meanwhile, in the import, at the same time, there were two groups of goods imported from Germany worth a turnover of $US 100 million or more, including machinery, equipment, tools and spare parts reached $US 516.4 million; pharmaceutical was $US 127.8 million.

Thus, in comparison with the same period of 2016, the value of Vietnam’s export turnover to Germany increased by 8.5%, equivalent to $US 206 million. In that, imports rose by 16 % that equivalent to $US 170 million.

By Thái Bình/Thanh Thuy