Exporting goods to Germany: Wide open opportunities

In recent years, with the main characteristic of complementary goods structure, trade relations between Vietnam and Germany have continuously developed and achieved many remarkable achievements. The total import-export turnover of goods between the two countries in 2023 reached over 11 billion.

Exporting goods to Germany, wide open opportunities

Germany remains one of Vietnam's most important export partners in the EU market in particular and the world in general. If in 2020, Vietnam's export turnover to the German market reached 6.64 billion USD, then by 2023, Vietnam's export figure to this market will reach 7.4 billion USD.

In the EU market, Germany is a major export market of Vietnam, accounting for nearly 20% of Vietnam's export turnover to this bloc. This is partly due to the large purchasing power of the German market, and partly because Germany is the gateway for Vietnamese goods to other markets in the EU.

Vietnam has many strong products that German consumers have high demand for or are increasing demand for, such as: wooden furniture, clothing, footwear, coffee, tropical fruits and vegetables, etc.

The Vietnamese Trade Office in Germany said that the opportunity to bring Vietnamese goods to Germany is still high. German consumers are willing to use good quality products at competitive prices from developing countries.

In addition, the number of Asians in general and Vietnamese in particular living, working and studying in Germany has increased in recent years. This consumer group tends to use more Asian products, including Vietnamese products. In addition, the advantage of the EVFTA is also a good opportunity for Vietnamese exports.

In terms of ranking, Germany ranks 7th in the Top largest export markets of Vietnam, but in terms of market share, exports to Germany only account for 2.4% of Vietnam's total export turnover to the world. It can be seen that the potential for Vietnam to export to this market is very large.

According to the General Department of Customs, in 2023, Vietnam exported to the German market machinery, equipment, tools, and spare parts (1.18 billion USD); footwear of all kinds (0.94 billion USD); phones and phone components (0.91 billion USD); textiles and garments (0.84 billion USD); computers, electronic products and components (0.71 billion USD).

In the opposite direction, Vietnam imported from the German market the following products: Machinery, equipment, tools, spare parts (1.29 billion USD); chemicals (0.47 billion USD); pharmaceuticals (0.32 billion USD); chemical products (0.24 billion USD); computers, electronic products and components (0.17 billion USD).

To promote trade relations between the two countries, the German Chamber of Commerce and Industry in Vietnam has also organized many trade activities and connected businesses of the two countries. According to information from this unit, the German Association for Supply Chain Management, Procurement and Transport (BME), together with the Association of German Chambers of Industry and Commerce from Vietnam, Laos, Cambodia, Thailand, Malaysia, the Philippines and Indonesia, representing the Federal Ministry for Economic Affairs and Climate Protection of the Federal Republic of Germany, organized the Procurement Initiative 2024 in February.

This year, the activity continues to focus on metal structures, mechanical processing parts such as casting and forging, stamping and bending parts, injection molding, plastic and electronic components, welding assemblies, assembly, manufacturing materials and drawing parts.

According to the German Chamber of Commerce and Industry in Vietnam, there will be two online seminars connecting Vietnamese businesses directly with German businesses to get acquainted, provide more detailed information from each side, and open up opportunities for future cooperation. Participating businesses will receive direct information from German buyers about effective business practices, and understand the requirements and needs of German businesses.

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