|Vietnamese Exports to EU on the Rise|
Vietnam's export to the EU is forecast to continue rising in the coming time as the market is on a recovery trend. Two-way trade between Vietnam and the EU over the past seven months reached 19 billion U.S. dollars, a year-on-year increase of 23.5 percent. Vietnam enjoyed a trade surplus of 13.5 billion dollars in export revenues. During the reviewed period, several European countries including Germany, the UK and Holland increased their imports from Vietnam.
Although slight decreases were reported in several export items to the EU, such as garments and textiles (down 0.7 percent) and aquatic products (down 10.73 percent), there is still room for Vietnam and the EU to increase trade, as their export products are mutually supplementary rather than competitive. Vietnam mainly imports machinery, equipment, materials, chemicals, iron and steel from the EU. It mainly ships garments and textiles, footwear, coffee and wood products to the market. The strong growth of Vietnamese exports to the EU market is partially attributable to goods entitled to the GSP treatment.
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Published on our website on August 22, 2013