Vietnam"s exports to EU increase 5.1% in 2022

Illustrative image. (Photo: VNA)

The trade turnover between Vietnam and the European Union (EU) reached 76.3 billion USD last year, a year-on-year increase of 5.1%, according to the European-American Market Department under the Ministry of Industry and Trade (MoIT).

Of this, exports hit 56 billion USD, up 10.2% compared with the 2021’s figure, it said.

Vietnam's trade surplus with the European market hit 35.5 billion USD last year.

The EU is currently Vietnam's leading trade partner and third largest export market with an annual export growth rate of 7.5%, accounting for 13.6% of the Southeast Asian country’s total export turnover in the 2015-2021 period.

The market share of Vietnamese goods in the EU's total imports is 1.8%, higher than that of other Southeast Asian countries such as Malaysia (1.2%), Thailand (0.9%), Indonesia (0.7%) and Singapore (0.7%), according to the European Statistics Agency (Eurostat)./.