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According to statistics from the General Department of Customs, bilateral trade in goods between Vietnam and the European Union (EU) in July 2024 reached over Ú$6.45 billion, up 15.4% compared to June 2024. Of this, Vietnam's goods exports to the EU in July 2024 exceeded US$4.82 billion, up 13.13% compared to June 2024, and up 24.34% compared to July 2023. In July 2024, Vietnam recorded a trade surplus with the EU of US$3.24 billion, up 9.09% compared to June 2024.

In the first seven months of 2024, the Netherlands was the EU member market to which Vietnamese goods were exported the most.

In the first seven months of 2024, Vietnam and the EU recorded a bilateral trade value of nearly US$38.88 billion. Vietnam's exports to the EU during this period exceeded US$29.57 billion, a 16.74% increase year-on-year.

Most of Vietnam's key export items to the EU experienced growth, with four categories exceeding US$2 billion including computers, electronics and components; phones and components; machinery, equipment, tools, parts; and footwear. After seven months, Vietnam had a trade surplus with the EU of nearly US$20.26 billion, a 20.08% increase year-on-year.

Notably, Vietnam's exports to most major markets within the EU saw growth in the first seven months of 2024. Several markets achieved a value of over US$2 billion.

The Netherlands was the top market, with a value exceeding US$7.26 billion, accounting for 24.56% of total exports to the EU, and increasing by 28.9% year-on-year. Germany ranked second with over US$4.58 billion, accounting for 15.49% and growing slightly by 4.84%. Italy reached over US$2.95 billion, accounting for nearly 10%, and increasing by 7.71%. Exports to Spain reached US$2.35 billion, accounting for 7.96% and increasing by over 20%. Exports to Belgium achieved over US$2.19 billion, accounting for 7.42% of the total value and increasing by 14.81% year-on-year.

Conversely, imports from the EU to Vietnam in July 2024 exceeded US$1.61 billion, up 22.5% compared to June 2024 and up 22.3% year-on-year. In the first seven months of 2024, Vietnam's total imports from the EU reached over US$9.31 billion, a 10.08% increase year-on-year. Notably, three import categories from the EU exceeded US$1 billion including computers, electronics, and components; machinery, equipment, tools, and parts; and pharmaceuticals.

In summary, Vietnam's trade with the EU has seen significant growth in the first seven months of 2024, with exports to the EU increasing substantially, and a significant trade surplus being recorded.

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