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Textiles is one of the groups of "billion USD" exports of Vietnam to the EU. Photo: T.Binh

According to information recently announced by the General Department of Vietnam Customs, by the end of August, the total export turnover from Vietnam to the EU reached US$25.92 billion.

In August, Vietnam's export turnover to this important market reached US$3.78 billion (in the first seven months of the year, the turnover was only US$22.14 billion).

Compared to the average of the first seven months of the year, export turnover to the EU in August was about US$600 million higher.

The prosperity of export activities to the EU has been an important part of the EVFTA officially cominginto effect.

Currently, mobile phones and components are the largest group of Vietnam's exports to the EU and the European Union is also the largest export market for this key product group.

In August, the export turnover of phones and components to Europe reached more than US$1 billion, thereby increasing the turnover in the first eight months of the year to US$6.96 billion. Although it decreased by 17.2% over the same period in 2019, it still accounted for 22% of the total export turnover of phones and components of the country.

In addition, the EU is also the leading export market for Vietnam's important commodity groups such as computers, electronic products and components; textile; agricultural; footwear, with a turnover of billions of USD per group of goods.

In the opposite direction, by the end of August, the total import turnover of Vietnam from the EU reached US$9.82 billion. Particularly, in August, it reached nearly US$1.4 billion, higher than the average of the first seven months of the year by about US$200 million.

With the EVFTA officially taking effect and the Covid-19 pandemicin Vietnam basically controlled, the EU and many major markets in the world are about to enter the biggest buying season aroundChristmas and New Year's Day, bringing hope for positive growth in import and export activities between Vietnam and the EU.