The Netherlands - Vietnam's "tens of billions of dollars" trading partner

VCN - The Netherlands is Vietnam's leading trade partner in Europe. Bilateral trade reached more than US$10 billion in 2022.
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Vietnam - Netherlands import-export correlation by the end of September 2023. Chart: T.Binh.
Vietnam - Netherlands import-export correlation by the end of September 2023. Chart: T.Binh.

According to the latest statistics of the General Department of Customs, by the end of September, Vietnam's exports to the Netherlands reached more than US$7.4 billion, decreasing about US$400 million year-on-year, but this country is still Vietnam's largest export market in Europe. The Netherlands market alone accounted for more than 18.4% of Vietnam's export turnover to Europe in the past nine months.

By the end of September, two more than US$ 1 billion exports were computers, electronic products, and components reaching US$1.74 billion and machinery, equipment, tools and spare parts reaching US$1.46 billion.

In addition, many exports reaching hundreds of US$ millions are phones and components; textiles; footwear; means of transport and spare parts; and cashews.

On the contrary, by the end of September, imports from the Netherlands saw a slight increase of 1.6% year-on-year to r US$487.6 million.

Notable imported items include machinery, equipment, tools and spare parts; medicine; and chemical products.

In trade relations with the Netherlands, Vietnam has maintained a large trade surplus of more than US$ 6.9 billion in the past nine months.

Vietnam-Japan import and export reached more than $20 billion in the first 6 months of the year Vietnam-Japan import and export reached more than $20 billion in the first 6 months of the year

Currently, the Netherlands is Vietnam's leading trade partner in Europe. In 2022, bilateral trade reached more than US$11 billion, of which Vietnam exported US$10.43 billion and imported US$668.9 billion.

By Thai Binh/ Huyen Trang

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