Vietnam’s exports to Germany up 30.5% in 10 months

Illustrative image (Photo: VNA)

Hanoi (VNA) – Vietnam’s export turnover to Germany enjoyed a year-on-year surge of 30.5% to 7.6 billion USD in the first 10 months of this year, according to the Ministry of Industry and Trade.

Meanwhile, the import value was 2.96 billion USD, a slight decrease compared to the same period of last year.

In the period, two-way trade reached nearly 10.6 billion USD, up 17.6% year-on-year.

Vietnam mainly shipped machinery, component parts, automobile, footwear, garment and textiles, coffee and aquatic products to Germany, while importing machines, components, parts, pharmaceuticals, chemicals, and automobile spare parts to the European country.

Germany is currently Vietnam’s biggest trade partner in Europe, accounting for 20% of the Southeast Asian country’s total trade value to the EU.

For Germany, Vietnam is a potential market and an important partner, especially in the context that the EU-Vietnam Free Trade Agreement proves effective after the over-two-year implementation./.

VNA