Vietnamese iron and steel exports to Germany surge sharply

27-May-2020 Intellasia | VOV | 6:02 AM Print This Post

A number of Vietnam’s export commodities to Germany, such as iron and steel, machinery, and sports equipment, increased sharply during the opening four months of the year, despite the negative impact of the novel coronavirus (COVID-19) epidemic globally, according to the general Department of Vietnam Customs.

Most notably, the country’s iron and steel exports to the European nation experienced a 27-fold annual increase during the four-month period, grossing a total of $2 million.

In spite of enjoying rapid growth, this product accounts for a very small proportion of turnover to the German market, therefore it does not make a huge difference to the overall export figure.

In addition, plenty of export commodities to the market have seen an increase in business during the four-month period, despite the complicated nature of developments caused by the COVID-19 pandemic worldwide.

Indeed, the export of machinery, equipment, tools, and spare parts increased by 50%, reaching approximately $199 million. Coffee exports also soared by 26.5 percent to $176 million throughout the reviewed period.

Elsewhere, toys and sports equipment enjoyed robust growth of over 187%, reaching a total of $46.5 million.


Category: Economy, Vietnam

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