Vietnam spends nearly 7.7 billion USD importing goods from the EU market

According to data from the General Department of Customs, the two-way import-export turnover of goods between Vietnam and the EU in the first 6 months of 2024 reached nearly 32.39 billion USD, an increase of 13.5% compared to the first 6 months of 2023.

Of which, goods imported from the EU into Vietnam reached over 7.69 billion USD in the first 6 months of 2024, an increase of 7.71% compared to the first 6 months of 2023.

Vietnam spends nearly 7.7 billion USD importing goods from the EU market

In June 2024 alone, the turnover decreased by 3.7% compared to May 2024, reaching over 1.31 billion USD and also decreased by 5.85% compared to the same month in 2023.

Imports of goods from the EU market account for 4.3% of the total import turnover of goods from all markets in the world. In the first 6 months of 2024, there were 3 groups of imported goods from the EU with a turnover of over 1 billion USD: Computers, electronic products and components; Machinery, equipment, tools, spare parts and Pharmaceuticals.

The largest import group from the EU in the past 6 months was computers, electronic products and components, reaching over 1.75 billion USD, accounting for 22.76% of the total import turnover of all kinds of goods from this market, up 29.93% compared to the first 6 months of 2023.

The group of machinery, equipment, tools and spare parts imported from the EU ranked second in terms of turnover, reaching over 1.37 billion USD, accounting for 17.85% of the total turnover, up 0.94%. Next was the group of pharmaceuticals, reaching over 1.06 billion USD, accounting for 13.78% of the total turnover, up 25.7%.

Most of the imported goods from the EU in the first 6 months of this year increased in value compared to the first 6 months of 2023, in which some groups of goods increased sharply such as: Textile, garment, leather and footwear materials increased by 23.65%, reaching 133.66 million USD; Means of transport and spare parts increased by 21.72%, reaching 119.64 million USD; Fertilizers of all kinds increased by 36.85%, reaching 23.25 million USD.

In contrast, exports of goods to the EU increased by 15.4%, reaching over 24.69 billion USD. Thus, in the first 6 months of 2024, Vietnam's trade surplus with the EU was nearly 17 billion USD, an increase of 19.2% compared to the first 6 months of 2023.

In terms of products, textile and garment exports to the EU accounted for 11.54% of total turnover, reaching nearly 1.91 billion USD, up 1.63%.

In the first 6 months of 2024, Vietnam's textiles and garments were exported to the EU market; in which, the Netherlands and Germany are the two largest textile and garment consuming markets of Vietnam; in which, textile and garment exports to the Netherlands reached nearly 565.29 million USD, an increase of 19.97% compared to the first 6 months of 2023, accounting for 29.65% of the total textile and garment export turnover to the EU; in June 2024 alone, exports reached over 124.99 million USD, an increase of 6.51% compared to May 2024 and an increase of 35.79% compared to June 2023.

Textile and garment exports to Germany reached nearly 363.65 million USD, down 18.26% compared to the first 6 months of 2023, accounting for 19.08% of the total textile and garment export turnover to the EU; in June 2024 alone, exports reached over 87.48 million USD, up 24.3% compared to May 2024 but down 8.46% compared to June 2023.

Among the 16 textile and garment export markets in the EU in the first 6 months of 2024, there are 6 large markets with a turnover of over 100 million USD; in addition to the 2 largest markets, the Netherlands and Germany mentioned above, the following markets are: Spain reached nearly 252.35 million USD, down 0.13% over the same period last year, accounting for 13.24% of the total textile and garment export turnover to the EU; Belgium reached nearly 206.17 million USD, up 6.75%, accounting for 10.81%; France reached over 206.01 million USD, up 3.3%, accounting for 10.81%; Italy reached nearly 159.29 million USD, up 1.63%, accounting for 8.36%.

Notably, in the first 6 months of 2024, although the export turnover of textiles and garments to the Czech market was not high, reaching only nearly 14.52 million USD, compared to the same period in 2023, it increased sharply by 48.98%. In addition, exports to the Slovakian market also increased sharply by 55.32%, reaching over 2.39 million USD; exports to the Luxembourg market increased by 24.76%, reaching over 1.74 million USD.

Meanwhile, textile and garment exports decreased sharply in markets such as: Austria decreased by 32.37%, reaching nearly 4.17 million USD; Hungary decreased by 31.21%, reaching over 0.57 million USD.

In addition, export groups that decreased sharply included: Animal feed and raw materials decreased by 59.16%, reaching only 72.41 million USD; ores and minerals decreased by 48%, reaching 2.9 million USD; paper products decreased by 48.5%, reaching 1.29 million USD; tobacco raw materials decreased by 52.5%, reaching 0.88 million USD.

Source: https://congthuong.vn/viet-nam-chi-gan-77-ty-usd-nhap-khau-hang-hoa-tu-thi-truong-eu-333671.html