Germany is the largest import market of Vietnam in Europe

Mercedes-Benz Vietnam with the largest booth at the 13th Vietnam Motor Show (VMS) in 2017. Photo: Nguyễn Hà.

According to the lasted information of General Department of Vietnam Customs about import-export activities in each market showed that, by the end of June 2017, Germany is the largest import market and the second largest export market of Vietnam in Europe (after Netherlands).

However, in terms of total value of export turnover, this country is the biggest trading partner of our country in Europe, with the total export turnover between the two countries, reached $US 4.635 billion, accounting for about 2,34% of the total value of export turnover of Vietnam at the same time.

For the import of goods from Germany, the end of June, the total turnover reached $US 1.477 billion, increased by 12.6% over the same period of 2016. In that, the largest imports commodity groups are machinery, equipment and spare parts of $US 610 million, followed by pharmaceuticals of $US 154.3 million.

Notably, Germany is one of the major markets supplying complete automobile and automobile components to Vietnam with the total volume of completed cars and imported components in the first 6 months is approximate $US 126.5 million, the especially automobile is $US 42.5 million.

In particular, the average price of imported cars from Germany has increased by nearly 87% over the same period of 2016. Currently, there are many famous car brands from Germany in Vietnam market such as Mercedes, Audi, Volkswagen,...

About Vietnam's export activities to Germany, by the end of June, the export value of the whole country reached $US 3.158 billion (lower than Netherlands market of $US 176 million), increased by nearly 8% over the same period. 2016.

Major export commodity groups to Germany include phones and components with value of turnover was $US 860 million; Footwear was near $US 492 million; Textiles was near $US 334 million; coffee was $US 300.3 million; Computers, electronic products and components reached $US 227.7 million; Machinery, equipment, tools was $US 174.2 million, etc.

In 2016, the total value of export turnover between Vietnam and Germany reached $US 8.81 billion. In that, Vietnam‘s export was $US5.98 billion and import was $US 2.85 billion.