The data released early this week showed total trade in goods and services (exports plus imports) between the UK and Vietnam was 5.7 billion pounds, an increase of 15% year-on-year.

Making clothes at a garment company in Hanoi. Clothing is among the top 5 export products to UK markets.

During the reviewed period, total UK exports to Vietnam amounted to 905 million pounds (an increase of 0.2%), of which export of goods accounted for 68.3% at 618 million pounds, up 3% year-on-year, while services were 287 million pounds, making up 31.7% and down 5.3% year-on-year.

Major products shipped from the UK to Vietnam included pulp and waste paper (74.4 million pounds), medicinal and pharmaceutical products (71.3 million pounds), beverage (42.2 million pounds), metal ore and scrap (35.2 million pounds) and scientific instruments (31.6 million pounds).

On the other side, Vietnam’s shipments to the UK increased 18.3% to 4.8 billion pounds, 97.2% of which were goods, with only 2.8% services.

The top five goods imported to the UK from Vietnam were telecoms & sound equipment (29.7%), clothing (381.8 million pounds), iron & steel (336.8 million pounds), footwear (334.8 million pounds) and furniture (329.9 million pounds).

Experts forecast the bilateral free trade agreement between the UK and Vietnam, which officially took effect on May 1, 2021, with a wide-range tariff elimination, has helped boost trade between the two markets. However, room for expansion is still large as Vietnam was the UK’s 36th largest trading partner, accounting for just 0.4% of total UK trade.

Updated data on trade in goods showed the UK’s exports of goods to Vietnam decreased by 4.3% in the 12 months to May 2022 compared to the same period of the previous year. Meanwhile, UK imports of goods from Vietnam increased by 15.5% over the same period.

Son La exports 20 tonnes of fresh longan to Europe and UK

The northern mountainous province of Son La held an event on July 23 to export 20 tonnes of fresh longan to Europe and the UK, and another 8 tonnes of dried longan flesh to China.

Vietnamese goods, foods introduced in UK

A programme to introduce Vietnamese goods and foods in the UK is underway at Longdan Supermarket in Crawley town, about 45km south of London.

Vietnam emerges as major agricultural supplier to UK following UKVFTA

Vietnam has emerged as a major Southeast Asian supplier of farm produce and aquaculture products to the UK following the UK-Vietnam Free Trade Agreement (UKVFTA) they signed, speakers said at a conference on June 23.

Conference held next week to unlock Vietnam-UK trade potential

A conference will be co-held on June 23 by the Ministry of Industry and Trade (MoIT), the British Embassy in Vietnam and the British Chamber of Commerce Vietnam (BritCham) to support Vietnamese enterprises to join the supply chain of British enterprises.

Vietnam Airlines opens direct route to India, increases UK service

Vietnam Airlines on Wednesday launched direct services between Hanoi, Ho Chi Minh City and New Delhi, becoming the second Vietnamese carrier to fly to India while it plans to expand its U.K. service.

Source: NDO/VNA