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Vietnam's garment-textile exports to EU up by 34.6% in Jan-May 2022

04 Jun '22
1 min read
Pic: Shutterstock
Pic: Shutterstock

Vietnam’s exports to the European Union (EU) grew further between January and May this year, with a trade surplus of $13.4 billion—up by nearly 47 per cent, thanks to their bilateral free trade agreement. Exports of garments and textiles and footwear rose as well, and were up by 34.6 per cent and 19 per cent during the period respectively.

The general statistics office (GSO) said that Vietnam’s export expanded despite lingering impacts of the pandemic and the Russia-Ukraine war that have pushed material and fuel costs, a news agency reported.

Vietnam-EU trade exceeded $57 billion last year, an increase of 14.5 per cent year on year as businesses have known how to maximise the deal.

Vietnam is now the EU’s biggest trade partner in the Association of Southeast Asian Nations and among the top 10 largest goods suppliers of the market.

Fibre2Fashion News Desk (DS)

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