Vietnam - Sweden: Economic and trade relations are constantly strengthened and expanded.

Vietnam - Sweden: Economic and trade relations are constantly strengthened and expanded - Photo 1.

In 2024, Vietnam will export 103.9 million USD worth of textiles and garments to Sweden - Illustration photo

According to statistics from the General Department of Customs, in 2024, two-way trade turnover between Vietnam and Sweden will reach nearly 1.473 billion USD, an increase of 14.3% compared to 2023. Of which, Vietnam exported to Sweden 1.045 billion USD (up 10.5%) and imported 427.6 million USD (up 25%).

The first four months of 2025 continued to record impressive growth with a total turnover of 580.5 million USD, an increase of 24.2% over the same period in 2024. Notably, exports from Vietnam reached 403.9 million USD (up 14.2%), while imports from Sweden reached 176.5 million USD (up 55.3%).

Steady growth in both exports and imports is a positive sign, showing the complementarity of the two economies in the global supply chain, and reflecting the increasing level of trust between the business communities of the two countries.

The import-export structure between Vietnam and Sweden is relatively harmonious, reflecting the comparative advantages of each side. Vietnam mainly exports traditional but high-value products such as textiles, footwear, seafood, wooden furniture, handicrafts, phones and components, computers and electronic products. Of which, electronics - telecommunications and textiles are the two groups of products with the largest proportion.

In 2024, Vietnam will export 103.9 million USD worth of textiles and garments, 99.8 million USD worth of computers and components, and 68.7 million USD worth of footwear to Sweden. Notably, although the export turnover of phones and components decreased slightly compared to 2023, it still reached 327.9 million USD, accounting for more than 30% of the total export value to this market.

In the opposite direction, Vietnam imports from Sweden many types of high-tech goods such as machinery, equipment, pharmaceuticals, chemical products and paper of all kinds. In 2024, Vietnam imported up to 143.7 million USD of machinery and equipment (accounting for more than 33% of total imports from Sweden) and 113.4 million USD of pharmaceuticals.

EVFTA Agreement creates new momentum for cooperation

Since the Vietnam - EU Free Trade Agreement (EVFTA) took effect in August 2020, many of Vietnam's key export products to the Swedish market have enjoyed tariff incentives, creating favorable conditions for expanding market share. On the other hand, EVFTA also sets higher requirements on rules of origin, technical standards, and supply chain transparency, forcing businesses to invest in improving their competitiveness.

According to the Vietnam Trade Office in Sweden, the Swedish market, with its strict standards on food safety, environment and traceability, is an important "capacity test" for Vietnamese goods when entering the European market. Vietnamese businesses that conquer this market will also have more advantages when approaching other EU countries.

In addition to traditional trade, the two countries are expanding cooperation into new areas such as technology, renewable energy and innovation. Sweden is a pioneer in green economy, circular economy and e -government , which are also strategic directions that Vietnam is promoting in the process of transforming its growth model.

Many Swedish businesses, especially in the clean technology, telecommunications, and digital financial services sectors, have been seeking investment cooperation opportunities in Vietnam. Meanwhile, Vietnamese businesses are increasingly interested in leveraging Sweden’s advanced technology and management standards to upgrade products and expand export markets.

Anh Tho

Source: https://baochinhphu.vn/viet-nam-thuy-dien-quan-he-kinh-te-thuong-mai-khong-ngung-duoc-cung-co-va-mo-rong-102250610093856576.htm