The trade turnover between Viet Nam and the European Union (EU) reached 52.5 billion USD in the first ten months of this year, up 14% over the same period last year, according to the Ministry of Industry and Trade (MoIT).

Illustrative image. (Photo: vneconomy.vn)

Of which, exports hit 39.7 billion USD, a year-on-year increase of 23.5%, it said.

The EU is currently Viet Nam's leading trade partner and third largest export market with an annual export growth rate of 7.5%, accounting for 13.6% of the Southeast Asian country’s total export turnover in 2015-2021 period.

The market share of Vietnamese goods in the EU' total imports is 1.8%, higher than that of other Southeast Asian countries such as Malaysia (1.2%), Thailand (0.9%), Indonesia (0.7%) and Singapore (0.7%).

Source: VNA