Vietnam’s exports to Denmark rise 53.6%

Two-way trade between Vietnam and Denmark is very positive in the first 5 months of 2022. In particular, Vietnam’s exports of goods to Denmark increased by 53.6%.

According to statistics of the General Department of Vietnam Customs, in the first 5 months of the year, two-way trade turnover between Vietnam and Denmark reached about 318.53 million USD.

In which, Vietnam’s exports to Denmark reached about 227.2 million USD, up 53.6%, while imports from Denmark were valued at 91.33 million USD, down 14.1% from the same period last year.

Earlier, in 2021, despite many impacts from the COVID-19 epidemic, two-way trade turnover between Vietnam and Denmark totaled 842.37 million USD, up 18% compared to 2020.

Some of Vietnam’s main export items to Denmark include: textiles, garments, aquatic products, interior products made of materials other than wood, wood and wood products, machinery, equipment, and other tools and spare parts.

In contrast, Vietnam imports from Denmark machinery, equipment, tools and spare parts, pharmaceuticals, chemical products, aquatic products, and iron and steel.

Trade relations between Vietnam and Denmark have witnessed strong development, with total bilateral trade turnover increasing by 5.8 times in the period 2000-2020.

According to the Vietnam Trade Office in Sweden, concurrently with Denmark, Norway, Iceland, and Latvia, the EVFTA Agreement, effective from 2021, has brought positive impacts to the two countries, further promoting Vietnam-Denmark trade relations, helping further expand the market for Vietnamese exports.

For investment, Denmark continues to rise to third among the largest investment countries in Vietnam from the beginning of 2022 to now, with 3 new projects with a total registered capital of 1.32 billion USD.

Currently, Danish businesses are very interested in investing in Vietnam in areas where Denmark has strengths, such as renewable energy, agriculture, animal husbandry and food processing.