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Vietnam's trade surplus to the EU market decreases by 8.5% in 2023 

 Tuesday, May 21,2024

AsemconnectVietnam - According to Vietnam Import-Export Report 2023, in 2023, Vietnam's trade surplus with EU market reached 28.7 billion USD, down 8.5% compared to 2022.

According to statistics from General Department of Customs, in 2023, Vietnam's total import-export turnover of goods with European Union (EU) region reached 58.6 billion USD, down 5.8% compared to 2022 and accounting for 8.6% of the country's total trade turnover.
Vietnam Import-Export Report 2023 just announced by Ministry of Industry and Trade on morning of May 16 clearly stated that EU is currently Vietnam's 4th largest trading partner (after China, the United States and South Korea); 3rd export market (after the United States, China) and 5th import market, after China, Korea, Japan and Taiwan (China)
Also according to data from General Department of Customs, Vietnam's export turnover to the EU market in the fourth quarter of 2023 reached 11.1 billion USD, up 0.2% compared to the fourth quarter of 2022, the first quarter of increase starting from the beginning of 2023.
In 2023, Vietnam's export turnover of goods to the EU reached 43.68 billion USD, down 6.7% compared to 2022. Vietnam's export of goods to the Netherlands, Spain, Slovakia and the Czech Republic increased. Growth is positive compared to 2022, while exports to Germany, Belgium, France, Sweden continue to decrease.
Regarding export products, most of Vietnam's main export products saw a decrease in export turnover to the European market in 2023. However, there are some products that saw positive growth. In export turnover in 2023 compared to 2022: Phones and components reached nearly 6.7 billion USD, an increase of 3%; iron and steel reached nearly 1.9 billion USD, up 29%; Means of transport and spare parts reached nearly 1.15 billion, up 3.9%; Cashew nuts reached nearly 651 million USD, an increase of 10.3%.
In 2023, Vietnam's import turnover of goods from the EU market reached 14.9 billion USD, down 3.1% compared to 2022.
Vietnam's imports of goods from many EU countries in 2023 will decrease, such as: Ireland (3,104,837,688 USD) down 7.2%; France (1,634,822,853 USD) decreased by 0.1%; Italy (1,626,695.61 USD) decreased by 9%; Netherlands (666,724,650 USD) decreased by 0.3%; Belgium (615,366,311 USD) decreased by 18.5%; Hungary (429,717,829 USD) decreased by 30%; Poland (373,607,260 USD) decreased by 0.4%;…
Meanwhile, Vietnam's import of goods from some remaining countries in the EU witnessed positive but not high growth. This contributes to a general decline in imports from EU countries in 2023.
Main products Vietnam imported from EU all record a decline in 2023. However, some products have positive growth compared to the previous year including: Machinery, equipment, tools and other spare parts ( 3,102,211,397 USD), up 0.2%; chemicals (552,926,817 USD), up 49.4%; aquatic products (310,831,878 USD), up 6.2%; milk and milk products (248,600,316 USD), up 5.9%,...

L. Giang
Source: Vitic/ congthuong.vn
 

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