Exports of goods to the EU (27 countries) in 2024 will recover impressively, bringing in 51.66 billion USD, an increase of 8.08 billion USD compared to 2023, of which computers, electronic products and components alone will contribute an additional 4.3 billion USD.
Exports to the EU increased by 8 billion USD thanks to the breakthrough of a large group of goods
Exports of goods to the EU (27 countries) in 2024 will recover impressively, bringing in 51.66 billion USD, an increase of 8.08 billion USD compared to 2023, of which computers, electronic products and components alone will contribute an additional 4.3 billion USD.
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| Exports to the EU last year added $8 billion, mainly thanks to the strong recovery of computers, electronic products and components. |
Vietnam's export mark of nearly 406 billion USD in 2024 was created by the strong recovery from traditional export markets, combined with strong exploitation of opportunities from Free Trade Agreements (FTAs), in which, export growth to the EU market set a new record.
By the end of 2024, Vietnam exported 51.66 billion USD to the EU, up 18.5%, equivalent to an increase of 8.08 billion USD compared to the previous year.
Of which, exports of computers, electronic products and components reached 10.76 billion USD, up 66.9% (equivalent to an increase of 4.31 billion USD); machinery, equipment, tools and other spare parts reached 8.72 billion USD, up 24.9% (equivalent to an increase of 1.74 billion USD); phones of all kinds and components reached 7.38 billion USD, down 13.4% (equivalent to a decrease of 1.14 billion USD)... compared to the previous year.
In the opposite direction, the import value from the EU in 2024 reached 16.73 billion USD, an increase of 12%, equivalent to an increase of 1.8 billion USD compared to the previous year.
Imports increased in some major commodity groups, such as: imports of computers, electronic products and components reached 3.72 billion USD, up 16.4% (equivalent to an increase of 523 million USD); machinery, equipment, tools and other spare parts reached 3.41 billion USD, up 6.2% (equivalent to an increase of 200 million USD)... compared to the previous year.
Thus, with a total two-way trade turnover of 68.39 billion USD achieved last year, Vietnam's trade surplus with 27 EU member countries reached 35 billion USD, much higher than the 28.7 billion USD in 2023.
Vietnam's trade growth with the EU has been strongly boosted by the Vietnam-EU Free Trade Agreement, which has entered its fifth year of implementation. Since the FTA took effect in August 2020, exports to the EU have changed significantly.
A survey by the European Chamber of Commerce in Vietnam (EuroCham) shows that the EVFTA has significantly boosted Vietnam's exports to Europe, soaring from 35 billion Euros in 2019 to more than 48 billion Euros in 2023. The growth is evident in areas such as electronics, textiles, footwear, agriculture and seafood according to the tariff reduction roadmap when this FTA comes into effect.
According to data from Vietnam Customs, after 4 years of EVFTA taking effect, the total export turnover in 4 years is estimated to reach about 200 billion USD, growing from 12-15%, making Vietnam the leading trade partner among ASEAN countries.
Source: https://baodautu.vn/xuat-khau-sang-eu-tang-them-8-ty-usd-nho-su-but-pha-cua-mot-nhom-hang-lon-d243688.html
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