Exports to the EU increased sharply in both quantity and quality.

(QNgTV)- EVFTA has been in effect for 5 years and is a lever to help bilateral trade turnover between Vietnam and the EU grow in both quantity and quality.

After 5 years of official effect, EVFTA has contributed to making Vietnam the EU's largest trading partner in ASEAN, and ranking 16th globally in terms of trade in goods with the EU.

Preliminary statistics from the General Statistics Office show that from August 1, 2020 to May 2025, the total trade turnover between Vietnam and the EU reached nearly 298 billion USD, accounting for nearly 40% of the total accumulated trade over 30 years (since 1995) between the two sides.

Specifically, exports to the EU will increase from 40.1 billion USD in 2020 to 51.6 billion USD in 2024, an increase of about 28.6%. In the opposite direction, imports from the EU will reach about 16.6-16.7 billion USD in 2024, an increase of about 12%, while the trade surplus with the EU will increase from 24.8 billion USD (in 2020) to 34.9 billion USD (in 2024).

Thanks to EVFTA, the surplus has increased sharply and business profits have improved by taking advantage of incentives. Up to 98.2% of EU businesses in Vietnam know and appreciate the practical benefits of EVFTA; 66% of businesses actively participate in bilateral trade activities. At the same time, many businesses reported an increase in net profit of up to 25%, an average increase of 8.7% thanks to taking advantage of trade incentives from the agreement.

Source: https://quangngaitv.vn/xuat-khau-sang-eu-tang-manh-ca-ve-luong-va-chat-6505774.html