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.

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.

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