Bilateral trade between Italy and Vietnam grew in spectacular fashion over the last 10 years following the launching of the Renovation policy carried out by the Vietnamese Government. Between 1993 and 1999 import-export movements increased fourfold. Last year bilateral trade reached the figure of 260 million USD (389 million USD, if one takes into account the data provided by the Italian Statistics Office).
However, due to Vietnamese import restriction's policies moved by the recent Asian crisis, Italian export dropped significantly over the last two years causing a sharp rise in the Vietnamese trade surplus. However, prospects for the year 2000 are encouraging and show evidence of an increased trend of the Italian export's turnover.
According to the Vietnamese Statistics Office, in 1999 Vietnamese Import from Italy was nearly 100 million USD, less than 0.83 % of the overall Vietnamese import. Italy is the 17th supplier of Vietnam (mostly investment goods for the developing Vietnamese industry).
Vietnamese export to Italy accounted for 160 million USD, roughly 1.5% of the entire Vietnamese export. Italy is ranked 18th among Vietnamese clients (mostly footwear, garments, seafood).
Despite the existence of great potentials, Italian investment remains very low. The registered capital stock of Italian investment (FDI) since 1991 has not exceeded 35 million USD with only 6 projects. In 1999 the flux of investment for new projects accounted for 1.25 million USD.
(Last updated, June 1st 2000)