Sweden-Vietnam trade surges by 11.8%

Trade between Sweden and Vietnam surged 11.8% in the first 11 months of 2024, indicating the growth potential of economic cooperation.

This milestone coincides with the celebration of 55 years of diplomatic relations between the two countries.

Trade and logistics between Sweden and Vietnam

According to the report of vietnam.vnSweden is Vietnam’s largest trading partner in Northern Europe, and Vietnam is Sweden’s top import partner in Southeast Asia.

In 2023, their total bilateral trade reached $1.29 billion (EUR 1.17 billion), and by 2024 it steadily rose to $1.3 billion (EUR 1.18 billion).

Efforts to streamline logistics have resulted in partnerships with major ports such as Gothenburg Port and Tâncngsàigòn. According to Bùi V¨nQuý, president of the Seaports Association of Southeast Asia, the contracts aim to reduce shipping costs and improve efficiency.

Ericsson and Mobifone Partnership

In 2024, Vietnam’s 5G Innovation Centre was established through the partnership between Ericsson and Mobiphone. The Center aims to develop digital transformation and high-tech research.

According to a report by Scandasia, Swedish consumers are increasingly prioritizing sustainable and environmentally friendly products, presenting new opportunities to Vietnamese exporters. Products such as organic seafood, textiles made from recycled materials, and sustainably produced furniture are in high demand.

Vietnam Sweden Business Forum

The Vietnam Swedish Business Forum, held in Stockholm in September 2024, was a major highlight of the year. With the theme of “Digital Transformation, Energy Transition, and Innovation,” the event fostered discussions on renewable energy and green conversion.

Furthermore, Swedish companies such as IKEA and H&M are consistent with the global trend of increasing production orders in Vietnam and diversifying their supply chains from China.

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