Figure 1 – EU-Vietnam trade – facts and figures

Trade in goods. The balance of trade is heavily in Vietnam’s favour, with the EU importing over three times as much from Vietnam as it exports to it. EU-Vietnam imports and exports have grown at double-digit rates, quadrupling over the past 10 years to reach a total value of €49.3 billion in 2018. The EU is Vietnam’s fourth-largest trading partner in the world, while Vietnam is the EU’s 16th largest partner (second largest in south-east Asia after Singapore). Vietnam exports electronic equipment (such as mobile phones and computers) to the EU, together with shoes, garments and vegetable products; the EU exports machinery, cars and chemicals (including pharmaceutical products) to Vietnam.
Trade in services totalled €4.1 billion in 2017, with the balance (€470 million) in the EU’s favour.
EU investment in Vietnam is also significant: in 2017, EU countries invested US$129 million in Vietnam, bringing accumulated investment in the country up to US$6.1 billion. The Netherlands and the UK were the 11th and 15th largest sources of foreign direct investment respectively.