Two–way trade between Vietnam and Denmark is forecast to reach 500 million USD this year, with 305 million USD coming from Vietnam’s exports, according to the Ministry of Industry and Trade’s European Market Management Department.
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Sports balls were manufactured at Delta Sports Company for exports to many markets, including Denmark. Photo:VNA
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However, bilateral trade had decreased by 10 percent year-on-year to 222 million USD for the first half of this year, mainly due to slumping import demands in Denmark.
During the period, Vietnam exported only 134 million USD worth of products to Denmark, down 6 percent year-on-year.
Export turnover of clothing and seafood, the country’s key items, dropped by 26 percent and 20 percent respectively to reach 42 million USD and 11.4 million USD, while the export value of wood and wooden products reached 6.7 million USD, equivalent to the same period last year.
The debt crisis in the eurozone has yet to show signs of recovery and the Danish consumers tend to tighten their spending, the department said.
The situation has a negative influence on Vietnam’s exports to the market, plus stiff competition from products of other countries.
In the reviewed period, Vietnam’s imports from Denmark also dropped by 16 percent to 88.3 million USD.
The Danish Government aimed to double export of essential goods to Vietnam over the 2011-2016 period.
According to statistics from the General Department of Customs, two-way trade turnover hit 468 million USD last year, up 11 percent on the previous year.
Of this figure, Vietnam’s exports to Denmark hit more than 276 million USD up 2 percent on 2011, while imports reached roughly 192 million USD, up 28 percent.
Local experts predicted that the Vietnam-EU Free Trade Agreement would open up a new page for the bilateral trade ties between the two countries.