Vietnam-EU trade reaches $68.4 billion under EVFTA

Six years after the European Union-Vietnam Free Trade Agreement (EVFTA) took effect, bilateral trade between Vietnam and the EU has seen significant growth. In 2024, two-way trade reached $68.4 billion, a 16.8% increase from 2023. Vietnam's exports to the EU rose to $51.72 billion, while imports from the EU reached $16.73 billion.

Beyond trade volume, the agreement is acting as a catalyst for economic reform. It is pressuring Vietnamese enterprises to upgrade their supply chains and encouraging the country to improve institutional governance to align with international standards. Projections for 2025 suggest continued growth, with total trade potentially reaching $73 billion.