VINACHEM

Vietnamese exports to 27 markets within the EU bloc bounced back in the first half of the year with turnover of US$24.5 billion, according to details given by the Ministry of Industry and Trade.

The total trade turnover between Vietnam and the bloc throughout the reviewed period reached US$32 billion, of which exports and imports from the EU surged by 14.1% and 5.2% to reach US$24.5 billion and US$7.5 billion, respectively.

Thanks to a rebound in export activities, the country enjoyed a trade surplus of US$17 billion with the EU, up 18.5% against the same period from last year.

Insiders attribute the rise in exports to the EU to a significant recovery occurring in key commodity groups such as phones, computers, garments and textiles, footwear, and agro-forestry-fisheries products.

The strongest growth was recorded in products such as computers, electronic products and components, with turnover reaching approximately US$4.1 billion, up nearly 50% on-year. This was followed by machinery, equipment and spare parts with US$3.95 billion, up 22%, and footwear with nearly US$3 billion, up 11.3%.

Meanwhile, aquatic exports to the EU soared by 12% to US$513 million compared to last year’s corresponding period.

With the recovery momentum being maintained in the first half of the year, exports to the bloc ahead in the second half are likely to reach between US$50 billion and US$52 billion

In particular, the EU-Vietnam Free Trade Agreement (EVFTA) is expected to provide fresh impetus for Vietnamese exports in the coming time thanks to commitments set out in preferential tariffs.  – VOV –