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.