Vietnam's exports to Germany increased by 5.5% in the first 11 months of 2024
Friday, December 27,2024
AsemconnectVietnam - Germany's economy has continued to experience a downturn this year, similar to the previous year. Long-term structural issues hinder Germany's growth, such as a severe shortage of skilled labor, years of underinvestment in infrastructure, and excessive bureaucracy. However, trade between Vietnam and Germany continues to show strong growth.
In recent years, the trade relationship between Vietnam and Germany has seen significant positive developments. In 2020, bilateral trade reached 9.99 billion USD, marking the beginning of a period of positive growth. In 2021, despite the ongoing impact of the Covid-19 pandemic on the global economy, trade value increased to 11.24 billion USD, demonstrating the resilience of both economies and their efforts to maintain trade relations.
In 2022, trade value continued to rise to 12.58 billion USD. However, in 2023, a decline was recorded with total trade value reaching 11.09 billion USD, a decrease of 11.86% compared to the previous year. The decline may be attributed to global economic challenges, such as rising inflation, supply chain disruptions, and decreased consumer demand.
The average trade value from 2020 to 2023 stood at 11.23 billion USD, indicating that the trade relationship between Vietnam and Germany has remained relatively stable amid volatility. This development is not only driven by traditional products but also opens up opportunities in new sectors, such as green technology and digital transformation, as Vietnam moves towards a sustainable and innovative economy. Overall, trade between Vietnam and Germany during this period has grown relatively steadily, highlighting the potential for further growth in bilateral trade in the future.
Vietnam's Exports to Germany
According to data from Vietnam's General Department of Customs, Vietnam's exports to Germany have surged this year. In the first 11 months of 2024, Vietnam's exports to Germany reached 7.2 billion USD, a 5.5% increase compared to the same period last year.
Export value of Vietnamese goods to Germany in November and the First 11 Months of 2024.
|
Group/item name
|
Nobember of 2024
|
First 11 months of 2024
|
|||
|
Value
(USD)
|
Month on
month (%)
|
Value
(USD)
|
Month on
month (%)
|
Value
(USD)
|
|
|
TOTAL VALUE
|
663,959,950
|
-6.16
|
1.9
|
7,203,978,539
|
5.5
|
|
Other machinery, equipment, tools and spare parts
|
115,177,599
|
-12.36
|
22.79
|
1,188,737,894
|
7.52
|
|
Computers, electronic products and components
|
100,925,086
|
-0.09
|
59.79
|
947,375,734
|
45.15
|
|
Phones of all kinds and components
|
44,370,636
|
-42.42
|
-34.83
|
823,718,955
|
-6.04
|
|
Textile, garment
|
79,670,321
|
11.61
|
5.52
|
714,006,576
|
-7.53
|
|
Footwear of all kinds
|
78,299,264
|
3.51
|
-28.81
|
680,544,150
|
-22.54
|
|
Coffee
|
29,549,797
|
28.49
|
-39.13
|
535,595,692
|
39.39
|
|
Other Goods
|
54,494,138
|
9.28
|
9.44
|
524,312,194
|
5.76
|
|
Transport and spare parts
|
19,068,341
|
33.96
|
42.27
|
184,965,629
|
8.18
|
|
Seafood
|
16,147,274
|
-22.47
|
16.49
|
183,164,611
|
7.72
|
|
Handbags, wallets, suitcases, hats and umbrellas
|
16,530,739
|
-25.78
|
-9.85
|
177,135,176
|
-0.96
|
|
Plastic Products
|
14,558,838
|
-13.9
|
22.09
|
162,640,286
|
30.42
|
|
Cashew
|
14,121,051
|
-13.78
|
60.49
|
137,142,693
|
27.15
|
|
Iron and steel products
|
12,317,537
|
20.62
|
-18.36
|
130,387,766
|
-20.96
|
|
Toys, sports equipment and parts
|
7,862,977
|
-13.43
|
30.1
|
114,284,291
|
-31.64
|
|
Cameras, camcorders and components
|
11,013,249
|
37.96
|
143.47
|
110,427,504
|
1.17
|
|
Textile, garment, leather, footwear raw materials
|
8,738,313
|
-8.25
|
39.7
|
88,177,478
|
11.51
|
|
Peppercorn
|
5,726,334
|
-44.36
|
84.09
|
85,382,895
|
138.4
|
|
Wood and wood products
|
11,078,012
|
24.87
|
43.49
|
79,884,280
|
31.33
|
|
Other common metals and products
|
3,686,009
|
-12.82
|
-67.69
|
76,499,867
|
-22.98
|
|
Rubber
|
1,179,865
|
-77.99
|
-72.97
|
56,138,826
|
70.56
|
|
Fruits and vegetables
|
3,787,192
|
-17.38
|
-5.09
|
52,154,951
|
63.76
|
|
Confectionery and cereal products
|
4,562,812
|
-25.14
|
35.02
|
48,419,455
|
21.3
|
|
Rattan, bamboo, sedge and carpet products
|
4,508,022
|
12.04
|
5.3
|
34,288,220
|
13.31
|
|
Rubber products
|
2,312,214
|
26.86
|
-17.54
|
28,984,128
|
41.43
|
|
Ceramic and porcelain products
|
2,107,092
|
-20.68
|
60.29
|
13,748,711
|
17
|
|
Chemical Products
|
973,877
|
-38.93
|
949.01
|
10,313,079
|
64.54
|
|
Gemstones, precious metals and products
|
472,145
|
-6.19
|
-64.72
|
6,363,818
|
-19.86
|
|
Iron and steel of all kinds
|
240,160
|
56.42
|
-42.35
|
5,468,838
|
-30.47
|
|
Paper and paper products
|
327,473
|
-7.87
|
214.74
|
2,676,085
|
-17.2
|
|
Tea
|
153,584
|
-21.86
|
-7.78
|
1,038,760
|
-12.96
|
Source: Calculated from data of the General Department of Vietnam Customs
According to data from Vietnam's General Department of Customs, Vietnam's imports from Germany have also seen a slight increase this year. Specifically, Vietnam's imports from Germany in the first 11 months of 2024 reached 3.4 billion USD, a 1.52% increase compared to the same period last year.
|
Group/item name
|
Nobember of 2024
|
First 11 months of 2024
|
|||
|
Value
(USD)
|
Month on
month (%)
|
Value
(USD)
|
Month on
month (%)
|
Value
(USD)
|
|
|
TOTAL VALUE
|
288,498,882
|
-13.83
|
-8.53
|
3,420,832,007
|
1.52
|
|
Other machinery, equipment, tools and spare parts
|
111,178,467
|
-17.68
|
5.94
|
1,218,084,453
|
3.09
|
|
Other Goods
|
32,950,259
|
-5.45
|
8.36
|
368,542,138
|
17,18
|
|
Pharmaceutical product
|
27,664,783
|
-41.05
|
-15,15
|
360,507,275
|
21.38
|
|
Chemical
|
20,510,543
|
164.51
|
-61.24
|
357,270,054
|
-12.77
|
|
Chemical Products
|
20,625,840
|
-24.53
|
-4.32
|
259,596,240
|
20.63
|
|
Computers, electronic products and components
|
11,997,873
|
-0.11
|
17.29
|
141,415,917
|
-12.42
|
|
Plastic Products
|
8,726,157
|
10.1
|
46.61
|
84,098,792
|
5.39
|
|
Raw Material Plastics
|
6,251,316
|
-13.36
|
23,27
|
69,471,732
|
11.06
|
|
Iron and steel products
|
4,909,441
|
-25.04
|
-5.15
|
60,405,350
|
0.91
|
|
Milk and dairy products
|
5,480,607
|
-3.32
|
50.24
|
46,380,390
|
14.52
|
|
Wood and wood products
|
2,926,579
|
-14.68
|
-1.57
|
45,579,938
|
9,13
|
|
Pesticides and raw materials
|
2,327,713
|
-10.9
|
24,35
|
43,545,359
|
-0.4
|
|
Other means of transport and spare parts
|
2,938,739
|
24.87
|
56.53
|
43,239,692
|
70.04
|
|
Auto components and spare parts
|
2,490,327
|
-30.93
|
-67.77
|
42,881,924
|
-61.37
|
|
Textile, garment, leather, footwear raw materials
|
1,084,554
|
-48.11
|
-69.59
|
27,151,348
|
-8.68
|
|
Animal Feed and Raw Materials
|
1,488,420
|
-42.44
|
137.04
|
27,140,675
|
121.23
|
|
Fabrics of all kinds
|
1,399,474
|
-23.27
|
-63.97
|
25,021,905
|
-11.74
|
|
Aromatics, cosmetics and hygiene products
|
4,015,617
|
53.47
|
181.25
|
22,092,156
|
31.03
|
|
Rubber products
|
2,583,520
|
25.32
|
16.07
|
20,905,998
|
-9.05
|
Source: Calculated from data of the General Department of Vietnam Customs
T.Huong
Source: Vitic
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