In the first 11 months of 2024, total bilateral trade between Vietnam and Denmark recorded impressive growth of 20.3% year-on-year, marking a strong recovery in trade and investment relations between the two nations.
Strong Two-Way Trade Recovery
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According to Ms. Nguyen Thi Hoang Thuy, Chief of the Vietnam Trade Office in Sweden (concurrently covering Nordic countries including Denmark), bilateral trade between Vietnam and Denmark — after a pandemic slowdown — has steadily recovered since 2022.
Vietnam’s key exports to Denmark continue to include textiles and garments, electronic components, furniture, steel, leather footwear, and seafood — all traditional strength industries.
In the first 11 months of 2024:
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Exports from Vietnam to Denmark reached USD 400 million, up 27.4%;
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Imports from Denmark totaled USD 213 million, up 9%;
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Total trade turnover hit USD 614 million, increasing 20.3% year-on-year.
The strongest Vietnamese exports included:
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Iron and steel products (+104.7%),
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Furniture (non-wood materials) (+62.5%),
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Seafood (+27.7%), and
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Textiles and garments (+13.2%).
These categories represent Vietnam’s core export strengths with stable growth and high potential for expansion in the Danish market.
Partnership Driven by Comprehensive and Green Strategic Cooperation
Ms. Thuy emphasized that this positive trade performance stems from the strong and comprehensive partnershipbetween Vietnam and Denmark, particularly since the establishment of the Comprehensive Partnership (2013) and Green Strategic Partnership (2023) frameworks.
Denmark has become one of Vietnam’s largest trade and investment partners in Northern Europe, playing a crucial role in supporting sustainable development, renewable energy transition, and climate change adaptation in Vietnam.
Both governments have built solid cooperation frameworks across key sectors such as:
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Trade and investment
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Renewable energy
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Education and healthcare
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Environmental protection
The Danish Government has expressed strong commitment to expanding practical cooperation with Vietnam and deepening bilateral relations in the coming years.
Future Export Opportunities
Despite this progress, Vietnam faces intense competition from regional countries such as Thailand, Indonesia, Malaysia, and China, which have been proactive in strengthening trade and investment ties with Denmark.
Regional Competitor Strategies
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Thailand has developed a strong reputation in processed food, seafood, and consumer goods, building a national brand of quality assurance and regularly hosting trade fairs in Copenhagen to connect businesses.
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Indonesia, a leading exporter of agricultural products (coffee, spices, palm oil), has boosted bilateral agreements and invested in sustainable processing industries to meet EU environmental standards.
“Vietnam should learn from these experiences — building a strong national brand, organizing direct trade promotion events, and focusing on high-value-added products — to compete more effectively,” Ms. Thuy suggested.
Sectors with High Potential
The Vietnam Trade Office in Sweden identified several promising export sectors and cooperation areas:
1. Agricultural and Aquatic Products
Denmark has growing demand for tropical agricultural goods such as coffee, cashew nuts, fruits, and processed seafood.
Vietnam’s advantage lies in its strong production base and export experience — provided exporters meet EU food safety and traceability standards.
2. Furniture and Handicrafts
Denmark, one of Northern Europe’s largest furniture and home décor markets, offers significant opportunities for Vietnamese furniture and handicraft producers, thanks to competitive pricing and creative design.
3. Green Energy and Technology Cooperation
As a global leader in clean energy and renewable technologies, Denmark offers valuable potential for Vietnam in:
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Wind and solar power development
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Environmental technology transfer
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Waste treatment solutions
Vietnam, with its strategic location in Southeast Asia, can also become a manufacturing and logistics hub serving Danish trade and investment across the region.
Maximizing EVFTA Benefits
The EU–Vietnam Free Trade Agreement (EVFTA) remains a crucial tool to:
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Eliminate tariffs on key Vietnamese exports to Denmark;
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Encourage investment cooperation in green and sustainable industries;
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Support supply chain integration between Vietnamese and Danish enterprises.
Vietnamese exporters are encouraged to leverage EVFTA commitments and enhance compliance with EU standards to expand their presence in the Danish market.
Conclusion
The Vietnam–Denmark trade relationship continues to thrive, reflecting the strong momentum of economic recovery, sustainability goals, and bilateral trust.
By focusing on innovation, brand building, and value-added production, Vietnam is well-positioned to strengthen its role as a reliable partner for Denmark in both trade and green development.