Vietnam – EU trade continues positive growth momentum

The Vietnam - EU Trade Magazine, Q2/2025, cited statistics from the Vietnam Customs Department, showing that in the second quarter of 2025, Vietnam's import and export turnover with the EU market continued to grow positively, reaching 18.19 billion USD, up 3.9% over the previous quarter and up 10.6% over the second quarter of 2024. Of which, import turnover is increasing more strongly than export and export shows signs of slowing down. In the first 6 months of 2025, the total two-way trade turnover between Vietnam and the EU reached 35.69 billion USD, up 10.2% over the same period last year, accounting for 8.3% of the total turnover of the whole country. Also in the first 6 months of 2025, Vietnam had a trade surplus with the EU of 19 billion USD.

Positive export growth

In terms of commodity groups, in the first 6 months of 2025, the export turnover of most of Vietnam's key export products to the EU market increased compared to the same period in 2024, including agricultural products with price benefits; consumer industrial products such as textiles and footwear; high-tech industrial products with computers, electronic products and components are the products with the highest export turnover to the EU, reaching 4.05 billion USD, up 13.4% over the same period in 2024; exports of all kinds of phones and components reached 3.5 billion USD, up 2.5%.

In the agricultural product group, in the first 6 months of 2025, coffee is still the item with the largest export turnover to the EU, reaching 409.7 thousand tons, worth 2.3 billion USD, up 15.9% in volume and 87% in turnover over the same period in 2024; cashew nut exports reached 64.6 thousand tons, worth 456.5 million USD, down 3.8% in volume, but up 24.6% in value; pepper exports reached 19.08 thousand tons, worth 141.5 million USD, down 17% in volume, but up 26.3% in value; fruit and vegetable exports reached 169.5 million USD, up 35.4% over the same period in 2024.

Vietnam's footwear export turnover to the EU in the first 6 months of 2025 reached 3.01 billion USD, up 12.2% over the same period in 2024. The EVFTA with its tariff reduction roadmap continues to create better competitive conditions for this item in the EU market compared to other suppliers such as China, India, Bangladesh, etc.

According to Eurostat statistics, in the first 5 months of 2025, the EU's footwear import turnover from Vietnam increased by 23.5% compared to the same period in 2024, nearly double the 12% increase in imports from the non-bloc market and much higher than the 15% increase in imports from China. Vietnam's market share in the EU's total footwear import turnover from the non-bloc market continued to expand, accounting for 29% in the first 5 months of 2025, up from 26.37% in the same period in 2024. Vietnam is the second largest footwear supplier outside the bloc to the EU, after China.

Regarding textiles, Vietnam's textile and garment export turnover to the EU in the first 6 months of 2025 reached 2.22 billion USD, an increase of 16.4% over the same period in 2024 in the context of the market's import demand continuing to recover.

It is forecasted that in the second half of 2025, Vietnam's goods export activities to the EU market are likely to be affected by fluctuations in the EU regional economy and tariff policies. However, with the great advantage of the EVFTA Agreement, goods exports to the EU market in the second half of 2025 are forecast to continue to increase but may slow down compared to the growth rate of about 8 - 10% compared to the same period in 2024.

The import market structure has not changed much.

Also according to statistics from the Customs Department, in the second quarter of 2025, Vietnam's import turnover of goods from the EU market reached 4.55 billion USD, an increase of 20.2% compared to the first quarter of 2025 and an increase of 14.8% compared to the same period in 2024. In the first 6 months of 2025, Vietnam's import turnover of goods from the EU market reached 8.34 billion USD, an increase of 8.5% compared to the same period in 2024. In particular, Vietnam's import turnover of goods from most major markets in the EU in the first 6 months of 2025 increased compared to the same period in 2024, except for a decrease in imports from Ireland. The market structure supplying goods to Vietnam from member countries in the first 6 months of 2025 did not have many fluctuations, except for the import proportion from Ireland which decreased from 23.1% to 20.3%, the proportion of other major markets fluctuated below 0.5%.

In terms of goods, in the first 6 months of 2025, the import turnover of Vietnam's key products from the EU increased compared to the same period in 2024, except for the decrease in imports of computers, electronic products and components, chemicals, plastic raw materials, fabrics of all kinds and pharmaceutical raw materials. In particular, the import turnover of machinery and equipment and many raw materials for production in the first 6 months of 2025 increased compared to the same period in 2024 such as: machinery, equipment, tools, other spare parts increased by 13.6%; raw materials for textiles, garments, leather, and footwear increased by 9.6%; wood and wood products increased by 16.2%; raw plastic materials increased by 12% in volume... Along with that, businesses are also promoting the import of consumer goods from the EU market, accordingly, the import turnover of milk and dairy products in the first 6 months of 2025 increased by 70.8%; Other food products increased by 15.1%, Seafood increased by 86.6%...

Thanks to the EVFTA Agreement, Vietnamese consumers are increasingly having more opportunities to access a variety of high-quality products from Europe at more reasonable prices, as import taxes on many products from Europe to Vietnam are being reduced to 0% according to the EVFTA Agreement's commitment. People have been able to buy agricultural products from Europe (such as vegetables, fruits, milk and cereals) at reasonable prices; along with that, many imported goods such as machinery and equipment from Europe are also starting to decrease according to the roadmap, helping domestic enterprises improve their production processes and create products with high added value.

On the other hand, industries with export advantages to the EU such as textiles, footwear and transportation have created many new jobs for Vietnamese workers. Workers also have the opportunity to improve their professional qualifications to meet new requirements from EVFTA.

According to experts, since its entry into force, the EVFTA has basically achieved its set goals in promoting the overall relationship between the two sides. The proportion of Vietnam's exports to the EU market has increased and Vietnam has become the country with the largest market share compared to other ASEAN countries exporting to the EU. However, Vietnamese enterprises need to proactively take advantage of opportunities from the EVFTA, grasp information about the world market, the impacts of the world economy... to be proactive in production, business and delivery plans. At the same time, proactively innovate production and business methods, innovate technology, create quality products, better meet the needs of the EU market.

Source: https://moit.gov.vn/tin-tuc/thi-truong-nuoc-ngoai/thuong-mai-viet-nam-eu-tiep-tuc-da-tang-truong-tich-cuc.html

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