Vietnam-EU bilateral trade

6311147-a-graph-showing-consistent-positive-progress-or-successTwo-way trade between Vietnam and the European Union (EU) in 2012 reached US$29.09 billion, up 19.77 per cent from 2011, according to the General Department of Customs.

Vietnam exported $20.31 billion worth of goods to the EU in 2012, an increase of 22.71 per cent year on year, while importing $8.79 billion worth of goods and services, up 13.48 per cent. This year, the EU surpassed the United States to become Vietnam’s largest importer.

Vietnam’s key export items to the EU in 2012, accounting for 75 per cent of the total, were garments, footwear, coffee, seafood, computers, mobile handsets and spare parts.

While the country only began exporting mobile handsets and spare parts to the EU in 2011, the export value for these products topped $5.4 billion last year.

Other commodities saw moderate growth, such as plastic products, wood and wooden products, bags, suitcases, umbrellas, pepper and cashew nuts.

For its part, Vietnam imported mainly machinery and equipment, pharmaceuticals, milk and dairy products from the EU.

According to the European Market Department of the Industry and Trade Ministry, the fact that trade between Vietnam and the EU continued growing despite the global economic stagnation and a number of EU member states facing debt crisis was a positive sign, suggesting that bilateral cooperation was steadily increasing.

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About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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