Vietnam- Austria trade exchange in 2019-2023 period
Tuesday, November 26,2024
AsemconnectVietnam - According to the data from the International Trade Center (ITC) of the WTO, bilateral trade between Austria and Vietnam has benefited from the positive impact of the EU-Vietnam Free Trade Agreement (EVFTA).
This trade agreement has brought many opportunities to increase the presence of Vietnamese products in the Austrian market.
Vietnam's exports to the Austrian market have grown strongly since the implementation of the EVFTA, especially in 2023, Vietnam's exports increased by 160% compared to 2020, when the EVFTA had not been implemented.
In the period from 2019 to 2023, two-way trade between Vietnam and Austria recorded strong growth, in which Vietnam continuously achieved a surplus in trade with Austria.
Two-way trade between Vietnam and Austria in the 2019-2023 period
Unit: thousand USD
|
2019
|
2020
|
2021
|
2022
|
2023
|
|
|
Vietnam’s exports of goods to Austria
|
1,114,872
|
1,102,010
|
1,426,215
|
1,439,769
|
2,865,058
|
|
Vietnam’s imports of goods from Austria
|
284,619
|
261,592
|
215,472
|
238,079
|
220,094
|
|
Vietnam-Austria trade exchange
|
1,399,491
|
1,363,602
|
1,641,687
|
1,677,848
|
3,085,152
|
|
Vietnam’s surplus in trade exchange with Austria
|
830,253
|
840,418
|
1,210,743
|
1,201,690
|
2,644,964
|
Unit: ITC- WTO
Since the EVFTA came into effect, the scale of trade in goods between Vietnam and Austria has grown continuously and Vietnam has continuously achieved a surplus in trade with Austria, although the world has faced many economic challenges during this period.
In particular, in 2023, Vietnam achieved a surplus of over 2.6 billion USD in trade with the Austrian market, an increase of nearly 215% compared to the surplus in 2020, when the EVFTA had not yet been implemented.
Austria’s exports of goods to Vietnam
Since the EVFTA came into effect, Austria's export turnover to Vietnam has always remained above 200,000 USD/year. This is a very small number compared to Austria's import turnover from Vietnam during this period. In 2023, Austria's export turnover of goods to Vietnam reached 220,094 USD, down nearly 16% compared to 2020, when the EVFTA had not yet come into effect.
Austria’s imports of goods from Vietnam
According to Vietnam customs statistics, since the EVFTA came into effect, Austria's import of goods from Vietnam has grown significantly.
In particular, the value of Austria's import turnover of goods from Vietnam in 2023 increased by nearly 160% and reached nearly 2.9 billion USD, compared to 1.1 billion USD in 2020 when the EVFTA had not yet been implemented and increased by nearly 101% compared to 2021, when the EVFTA began to be implemented.
Austria's trade exchange with countries around the world in the 2019-2023 period
Austria's total export turnover in 2023 reached 222.2 billion USD. Germany was Austria's largest export market in 2023 with a turnover of over 63.6 billion USD.
It was followed by the US, Italy and Switzerland markets with the turnover of 15.8 billion USD, 13.4 billion USD and 11.1 billion USD respectively.
Austria’s exports of goods in the 2019-2023 period
Unit: thousand USD
|
Market
|
2019
|
2020
|
2021
|
2022
|
2023
|
|
Total
|
171,532,055
|
162,145,129
|
194,703,246
|
203,753,247
|
222,185,082
|
|
Germany
|
50,107,811
|
49,238,201
|
58,563,815
|
60,536,650
|
63,604,448
|
|
The U.S
|
11,366,169
|
10,477,546
|
12,746,473
|
13,298,190
|
15,804,857
|
|
Italy
|
10,818,680
|
10,060,366
|
13,170,238
|
13,776,475
|
13,361,005
|
|
Switzerland
|
8,603,527
|
8,952,387
|
10,081,034
|
10,880,466
|
11,147,358
|
|
Poland
|
5,769,139
|
6,273,591
|
7,686,156
|
7,669,025
|
8,236,081
|
|
Slovakia
|
3,521,385
|
3,284,054
|
3,727,481
|
3,830,873
|
8,233,261
|
|
Belgium
|
3,147,091
|
2,921,077
|
3,399,185
|
3,158,531
|
8,093,348
|
|
France
|
7,501,403
|
6,949,672
|
7,371,813
|
8,071,067
|
7,966,828
|
|
Hungary
|
6,131,348
|
5,582,771
|
7,173,922
|
7,941,501
|
7,824,657
|
|
Czech
|
6,023,591
|
5,750,342
|
6,987,950
|
7,304,666
|
7,721,669
|
|
The U.K
|
4,944,640
|
4,550,701
|
5,243,443
|
5,365,159
|
5,842,962
|
|
China
|
4,981,008
|
4,467,014
|
5,700,383
|
5,540,452
|
5,428,619
|
|
Slovenia
|
3,542,554
|
3,208,614
|
4,058,588
|
5,072,804
|
4,487,208
|
|
Romania
|
2,805,958
|
2,687,952
|
3,508,054
|
3,946,859
|
4,393,349
|
|
The Netherlands
|
3,286,753
|
3,189,792
|
3,722,637
|
3,876,525
|
3,943,235
|
|
Spain
|
2,773,094
|
2,235,507
|
2,933,587
|
3,070,840
|
3,435,286
|
|
Turkey
|
1,268,988
|
1,430,951
|
1,761,312
|
1,898,867
|
2,175,041
|
|
Mexico
|
1,494,940
|
1,252,259
|
1,520,187
|
1,768,615
|
2,129,261
|
|
Sweden
|
1,942,892
|
1,721,611
|
2,085,482
|
2,086,633
|
2,101,963
|
|
Croatia
|
1,474,653
|
1,399,995
|
1,767,122
|
1,963,787
|
2,097,905
|
|
Japan
|
1,778,021
|
1,589,607
|
1,916,055
|
1,772,228
|
1,904,684
|
|
Canada
|
1,424,576
|
1,271,636
|
1,702,399
|
1,795,985
|
1,786,968
|
|
South Korea
|
1,321,181
|
1,300,585
|
1,524,309
|
1,852,848
|
1,557,654
|
|
Ireland
|
383,584
|
347,946
|
486,602
|
480,135
|
1,540,315
|
|
Russia
|
2,638,898
|
2,418,759
|
2,361,219
|
1,934,124
|
1,394,026
|
|
Australia
|
1,712,829
|
1,127,065
|
1,307,666
|
1,306,860
|
1,393,802
|
|
India
|
1,026,895
|
951,799
|
1,217,959
|
1,247,024
|
1,369,670
|
|
Others
|
19,740,447
|
17,503,329
|
20,978,175
|
22,306,058
|
23,209,622
|
Unit: ITC- WTO
Meanwhile, Austria's total import turnover in 2023 reached 223.3 billion USD. Germany was Austria's largest import market in 2023 with a turnover of more than 84.2 billion USD. Italy was Austria's second largest import market with a turnover of nearly 13.6 billion USD and Switzerland was the third with a turnover of 11.7 billion USD.
Austria’s imports of goods in the 2019-2023 period
Unit: thousand USD
|
Market
|
2019
|
2020
|
2021
|
2022
|
2023
|
|
Total
|
176.596.131
|
164.635.579
|
210.913.061
|
226.475.409
|
223.336.425
|
|
Germany
|
61.220.139
|
57.169.826
|
69.544.609
|
71.729.007
|
84.238.149
|
|
Italy
|
11.601.683
|
10.406.714
|
13.661.979
|
13.809.010
|
13.601.077
|
|
Switzerland
|
7.256.413
|
9.158.922
|
11.969.959
|
10.846.993
|
11.678.364
|
|
The Netherlands
|
4.719.594
|
4.512.525
|
5.595.667
|
5.952.312
|
11.321.339
|
|
Czech
|
7.407.314
|
6.847.132
|
9.148.839
|
10.334.851
|
10.537.846
|
|
China
|
10.998.301
|
11.626.200
|
15.489.570
|
18.374.176
|
7.624.184
|
|
Poland
|
5.213.818
|
5.135.052
|
6.824.387
|
7.399.384
|
7.480.236
|
|
Hungary
|
4.797.503
|
4.415.649
|
5.537.066
|
5.622.886
|
5.959.898
|
|
Slovakia
|
3.669.565
|
3.319.996
|
4.240.930
|
3.991.517
|
5.777.321
|
|
The U.S
|
7.896.714
|
5.964.957
|
6.722.489
|
7.624.469
|
5.445.185
|
|
France
|
4.687.856
|
4.253.863
|
5.322.737
|
5.372.418
|
5.353.434
|
|
Belgium
|
2.346.609
|
2.310.087
|
3.297.899
|
3.324.762
|
5.101.917
|
|
Slovenia
|
2.468.802
|
2.244.480
|
2.852.044
|
3.608.326
|
4.207.730
|
|
Spain
|
3.017.808
|
2.775.575
|
3.043.130
|
3.111.304
|
3.025.782
|
|
Vietnam
|
1.114.872
|
1.102.010
|
1.426.215
|
1.439.769
|
2.865.058
|
|
Turkey
|
1.972.947
|
2.009.740
|
2.648.317
|
2.964.804
|
2.700.342
|
|
The U.K
|
3.062.831
|
2.346.886
|
3.280.508
|
3.675.142
|
2.381.404
|
|
Sweden
|
1.744.693
|
1.549.014
|
1.913.941
|
2.117.783
|
2.231.641
|
|
Romania
|
1.702.057
|
1.805.722
|
2.554.351
|
2.618.350
|
1.869.135
|
|
Kazakhstan
|
1.689.868
|
1.002.920
|
1.622.641
|
1.668.881
|
1.850.089
|
|
Japan
|
2.493.937
|
2.250.808
|
2.642.629
|
2.608.111
|
1.691.551
|
|
India
|
1.143.487
|
1.024.891
|
1.325.158
|
1.642.207
|
1.558.936
|
|
Libya
|
930.844
|
138.575
|
892.722
|
770.344
|
1.151.737
|
|
Croatia
|
726.063
|
827.539
|
1.050.481
|
1.021.352
|
1.132.417
|
|
South Korea
|
842.625
|
924.470
|
1.116.883
|
1.153.401
|
1.105.132
|
|
Others
|
19,740,447
|
17,503,329
|
20,978,175
|
22,306,058
|
23,209,622
|
Unit: ITC- WTO
CK
Source: VITIC/ITC-WTO
Over 88 billion USD spent on importing computers, electronic products in 10 months
Vietnam's steel market update November: imports surge in Oct, driven by increased shipments from China
DAILY: Vietnamese pepper prices remained unchanged on November 25, 2024
DAILY: Vietnamese coffee prices rose by 3,600-4,100 VND on November 25, 2024
In October, Vietnam's seafood exports returned to the 1 billion USD mark
Vietnam – Austria trade exchange in October and 10 months of 2024
Exports to US reached nearly 100 billion USD
DAILY: Vietnamese pepper prices rose by 500-1,500 VND on November 22, 2024
DAILY: Vietnamese coffee prices fell by 100 VND on November 22, 2024
In 9 months, Vietnam's export of means of transport and spare parts reached over 11 billion USD
Soybean imports in the first 9 months of 2024 increased in volume, decreased in value
Vietnam-China trade may set a record of 200 billion USD this year
Export turnover increased sharply, pepper entered billion-dollar group
Export of handicrafts in 2024 are expected to reach about 2 billion USD
