Vietnam – Spain commercial relations

Vietnam Trade Office in Spain would like to send an overview of the Vietnam – Spain trade relationship. Specifically, 20 main items of Vietnam exported to Spain and imported from Spain, Vietnam’s competitors in the products for businesses interested in reference. Sincerely thank you.

Before the Covid-19 epidemic, in general, the bilateral trade between Vietnam and Spain grew quite stably in terms of both value and commodity structure. According to the updated statistics of the Spanish Customs, the growth rate of bilateral trade turnover tends to increase, specifically in 2018 and 2019, respectively, 2.80% and 9.05%. Due to the impact of the epidemic during 2020, the bilateral import-export turnover of 10 months of 2020 will decrease by 15.00%.

In the first 10 months of 2020, Vietnam’s export turnover to Spain reached approximately 2.08 billion euros (down 16.35%), imports reached about 0.34 billion euros (down 5.82%), the trade surplus continued at as high as 1.74 billion euros (down 18.15%). Over the past years, Vietnam has continuously been in a state of large trade surplus to Spain and the notable point is: in 2020, Vietnam still maintains its export market share as in 2019, reaching 0.92% in the overall import market share of Spain to the world. Currently, Vietnam has risen to be the country with the largest export market share and turnover among ASEAN countries exporting to Spain, standing on par with Korea’s export market share.

The export items of Vietnam with the highest value to Spain are: phones and accessories, respectively; textiles; footwear; machinery, equipment, tools and spare parts; the coffee; toys, game equipment and sports equipment; furniture; travel goods and leather; preparations of meat and fish products; rubber and rubber products; edible fruits and almonds; Seafood; plastic and plastic products; metal tools and utensils; carpets and other textile floor coverings; …

In 2020, due to the severe impact from pandemic prevention measures including the imposition of national warnings, minimizing domestic travel and contact and at the same time the border closure has resulted. Therefore, the demand for domestic consumption and import of goods decreased significantly compared to 2019. Exports of Vietnam to Spain are generally reduced. The items with the most decline in exports are: plastic and plastic products (32.86%); beverages (30.11%); fisheries (28.72%); metal tools and cookware (27.64%); footwear (27.58%); meat and fish products (24.05%); textiles and garments (23.25%); phones and accessories (23.08%); edible fruits and almonds (18.28%); coffee (12.71%).

Vietnam’s imported goods from Spain currently with the highest value are: electrical machinery, electronics; other machinery, equipment, tools and spare parts; textiles; medicine; tanning dye extracts; meat and by-products; plastic and plastic products; Products from iron and steel; ceramic furniture; chemical products; optical, measuring, medical and accessories instruments and equipment; hides and leather.

Enterprise see details as attached file.





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