Vietnam-France bilateral trade enjoys continuous growth
Bilateral trade between Vietnam and France have seen positive growth, with Vietnam having enjoyed continuous trade surplus since 2010, reported the Ministry of Industry and Trade.
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In 2017, the two-way trade value exceeded US$4.6 billion, up 11.6% from 2016. The figure included US$3.3 billion worth of Vietnamese exports to France and US$1.3 billion worth of imports from the European country, both increasing by over 11% year on year.
Vietnam’s key export staples to France include footwear, garments and textiles, household appliances, agro-forestry-aquatic products, gemstones, jewelries, electricity devices, electronics, mechanic tools, pottery, rubber, coal, plastic products and rattan and bamboo handicrafts.
Last year, Vietnam exported US$1.13 billion worth of mobile phones and components to France, earning the products first position in the list of exports to the European nation for the seventh year in a row.
They were followed by garments and textiles with turnover of US$526.6 million, footwear and computers and spare parts, which raked in US$436 million and US$211 million, respectively.
Meanwhile, Vietnam mainly imported high-valued products from France, such as pharmaceuticals, machines and equipment, and transport vehicles.
According to Vu Duc Giang, President of the Vietnam Textile and Apparel Association (VITAS), the sector’s annual export value to the EU makes up of 18-19% of its total earnings, in which France accounts for a majority.
Vietnam is currently one of the leading suppliers of garments for the French market thanks to its high-quality products and reasonable prices, Giang said.
