Vietnam’s trade surplus with the EU widens
(VOV) - Vietnam’s exports to the European Union (EU) jumped 14.7% on-year to US$27.9 billion, surpassing the United States (US) to make the EU the nation’s second largest trading partner.
Official statistics also revealed that Vietnam’s combined imports and exports with the EU mushroomed to US$36.8 billion in 2014, a significant increase from the US$26.6 billion a year earlier, expanding the nation’s trade surplus by nearly US$8.9 billion.
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The same report also indicated that 23 of the 28 EU member nations invested US$19.1 billion in1,566 projects in the Southeast Asian nation, principally concentrated in manufacturing with more limited funds flowing into the energy and communications sectors.
Additionally, the EU was the second largest provider of cumulative official development assistance (ODA) and non-refundable aid for capital investment projects through the end of 2014.