Việt Nam’s exports to Germany up 30.5% in 10 months

Inside a yarn production company. Việt Nam’s export turnover to Germany enjoyed a year-on-year surge of 30.5 per cent to US$7.6 billion in the first 10 months of this year. — VNA/VNS Photo

Việt Nam’s export turnover to Germany enjoyed a year-on-year surge of 30.5 per cent to US$7.6 billion in the first 10 months of this year, according to the Ministry of Industry and Trade.

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

In the period, two-way trade reached nearly $10.6 billion, up 17.6 per cent year-on-year.

Việt Nam mainly shipped machinery, component parts, automobiles, 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 Việt Nam’s biggest trade partner in Europe, accounting for 20 per cent of the Southeast Asian country’s total trade value to the EU.

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