Exports to Germany hit nearly US$1.2 bln in Q1
(VOV) - Vietnam’s exports to Germany climbed 48.9% to US$434.18 million in March, bringing its three-month export revenue from this market to US$1.18 billion, up 1.5% against the same period last year.
With the impressive export recovery, the outlook for exports to the EU powerhouse appears to be brighter than last year, say leading market analysts.
Vietnam mainly ships telephone handsets and components, footwear, garments, coffee, timber products, seafood, backpacks, bags, wallets, handicrafts and computers, electronics and components to Germany.
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Despite a 24.1% fall in value, telephones and components led the export items, raking in US$301.58 million, accounting for more than 20% of the total.
Coffee ranked second, fetching US$161.84 million, a year-on-year rise of 21.9%. Vietnam ships Robusta L1 and L2 to Germany through its Saigon port.
Garments came in third at US$153.64 million, up 17.4%.
Other products achieving high export growth included machinery, equipment and tools (up 55.2%), means of transport and spare parts (up 74.2%), rubber products (up 74.2%), and fruit and vegetables (up 31.3%).
On the downside, agro-forestry products saw a decline in export value including pepper (down 58.7%), ceramics (down 33.7%), rubber (down 41.8%) and cashew nuts (down 23.1%).