Vietnam’s exports to Italy declines

Two-way trade turnover between Vietnam and Italy reached US$797 million in the first half of this year, up 7.7 percent compared to the same period last year, making up 10 percent of Vietnam’s total export earnings from the EU market, according to statistics from the General Department of Vietnam Customs. 

Of the figure, Vietnam’s export turnover to Italy was US$407 million, down 1.4 percent against the same period last year. Meanwhile, Vietnam’s import turnover from Italy increased by 17.7 percent, earning US$390 million.

The department said that Vietnam’s trade surplus with Italy has reached only US$18 million, down 78 percent due to a sharp decline in Vietnam’s exports to the market since 2009.

The department added that Vietnam’s exports to the Italian market declined sharply due to coffee products.

Italy ranks sixth among Vietnam’s key export markets. Vietnam’s major exports to the market are footwear, seafood, garment and textile, coffee, wood and wooden products.

Vietnam’s imports from Italy are mainly machinery, equipment, and production materials.

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