Vietnam’s exports to the EU topped $56 billion in 2022, a year-on-year increase of 10.2 per cent, according to the Ministry of Industry and Trade.

The figure brought trade turnover between the two sides to $76.3 billion last year, up 5.1 per cent against 2021.

Vietnam’s trade surplus was $35.5 billion.

The EU is currently Vietnam’s leading trade partner and third-largest export market, with annual export growth of 7.5 per cent and accounting for 13.6 per cent of its export turnover in the 2015-2021 period.

The market share of Vietnamese goods in the EU’s total imports is 1.8 per cent; higher than the figure in other Southeast Asian countries such as Malaysia, Thailand, Indonesia, and Singapore, according to the European Statistics Agency.