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Accordingly, commerce between Vietnam and the UK reached 6.6 billion USD in 2021, a rise of 17% on the yr and equal to the pre-pandemic interval.
Whereas Vietnamese export to the UK rose 16.4% year-on-year to five.7 billion USD, UK’s export to Vietnam additionally witnessed a acquire of 23.6% to almost 850 million USD.
In 2021, merchandise imported from the UK with the very best development fee respectively have been widespread metals (426%), telephones and elements (219%), textile, garment and footwear supplies (24.7%), prescribed drugs (35.4%), and automobiles (28%), in response to information from the Common Division of Vietnam Customs.
Vietnamese merchandise with a pointy development in shipments to the UK market have been fruit and veggies (67%), espresso (17%), pepper (49%), iron and metal (1,269%), and toys and sports activities gear (19%).
“The outcomes confirmed that the UKVFTA is sort of a two-way high-speed practice, serving to us to spice up exports to the UK and vice versa, the UK additionally will increase exports to Vietnam”, Ngo Chung Khanh, deputy head of Multilateral Commerce Coverage Division, at a webinar on “Selling the strengths of companies – Utilising alternatives from the UKVFTA.”
This helped equalise the commerce stability between the 2 international locations, he added.
Knowledge from the Common Division of Vietnam Customs confirmed that within the first half of 2022, the nation exported 2.9 billion USD of commodities to the UK whereas importing greater than 372.5 million USD.
This reveals the activeness and initiative of enterprises in exploiting new alternatives from the settlement.
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