Export surplus of more than $US 2 billion to France

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Export surplus of more than $US 2 billion to France.

Statistical data from the General Department of Vietnam Customs showed that in 2017, the total value of export and import turnover between Vietnam and France reached more than $US 4.622 billion. With this result, France is Vietnam’s 4th largest trading partner in Europe, behind Germany, the Netherlands and the UK.

Of which, Vietnam's exports reached $US 3.351 billion and imports reached $US 1.271 billion.

Although the growth rate of export and import turnover between Vietnam and France in 2017 is lower than the average increase in import and export activities in our country, having many other big markets, but compared to the results of 2016, the trade between the two countries is more prosperous.

Specifically, in 2017, total import-export turnover between the two countries increased by 11.6% over 2016, of which exports increased by 11.8%, imports increased by 11.1%. While export growth in 2016 compared to 2015 was only about 2%, and imports grew negatively.

In 2017, the main export items from Vietnam to France focused on phones; footwear, textiles, computers, electronic products and components, in which phones are the first group of export turnover valued at $US 1 billion or more (the value in the whole year reached $US 1.131 billion).

Notably, France is also one of the markets in Europe that consumes a large number of agricultural commodities from Vietnam, participating in key commodities such as seafood, coffee, rice, pepper and rubber.

However, the turnover of agricultural products exported to France is only modest from a few million US dollars to several tens of millions of US dollars per year. In 2017, in the agricultural sector, seafood export turnover reached $US 103 million.

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On the import side, last year, Vietnam had two groups of imported goods from France worth a turnover of "hundred million US dollars". Topped by pharmaceuticals with a turnover of $US 342 million; and the second largest group included machinery, equipment, tools and spare parts valued at $US 223 million.