South-East Asia IPR SME Helpdesk

Snapshot: Business in Vietnam for EU Companies

  

(Source: DG Trade )

SIZE of Market:

  • EU exports in goods to Vietnam in 2015: EUR 8,449 million
  • EU imports in goods from Vietnam in 2015: EUR 29,977 million
  • Total trade in goods in 2015: EUR 38,426 million
  • EU exports in services to Vietnam in 2014: EUR 1,733 million
  • EU imports in services from Vietnam in 2014: EUR 1,779 million
  • Total trade in services in 2014: EUR 3,512 million
  • Vietnam GDP in 2015: EUR 172.6 billion
  • Vietnam GDP growth in 2015: 6.7% billion

In 2015, Vietnam ranked 21st among EU’s trading partners and the EU was Vietnam’s 3rd largest trading partner (10.7%) after China (25.1%) and the USA (11.2%) 

Free Trade Agreement (FTA) negotiations between the EU and Vietnam were concluded in 2015, covering tariffs and non-tariff barriers to trade and other trade-related aspects including public procurement, regulatory issues, competition, services, intellectual property rights and sustainable development.

While Hanoi in the north is considered the political centre, Ho Chi Minh City in the south is deemed as the country's economic hub and commercial centre. Therefore, European SMEs usually choose to manage European SMEs choose to manage their trade and investment activities from there.

Key INDUSTRY SECTORS - 2015

  • The goods EU exports to Vietnam include (i) Machinery and appliances (27.4%), (ii) Transport equipment (17.7%) and (iii) Products of the chemical and allied industries (16.5%).
  • The goods EU imports from Vietnam are primarily (i) Machinery and appliances (50.1%), followed by (ii) Footwear, heads and other headgear (12.1%) and (iii) Textiles and textile articles (10.4%).