Home breadcru News breadcru Import/Exports breadcru Vietnam's exports to UK up by 16.4% YoY in 2021

Vietnam's exports to UK up by 16.4% YoY in 2021

05 May '22
1 min read
Pic: Shutterstock
Pic: Shutterstock

Vietnam-UK trade has recovered from the impact of the pandemic, reaching nearly $6.6 billion at the end of last year—up by 17 per cent from the previous year, according to the ministry of industry and trade. Vietnam’s exports to the United Kingdom exceeded $5.7 billion—up by 16.4 per cent year-on-year. The rise is attributed to the UK-Vietnam Free Trade Agreement (UKVFTA) that took effect in August 2020.

The country exported more than $4.8 billion worth of goods to the United Kingdom in the first four months of 2022. Textile and garments was part of major currency earners, a news agency reported.

Sharp growth was seen in shipments of fruits and vegetables (67 per cent), coffee (17 per cent), pepper (49 per cent), iron and steel (1,269 per cent), and toys and sports equipment (19 per cent).

Meanwhile, imports from the United Kingdom rose by 23.6 pe rcent to nearly $850 million last year.

ALCHEMPro News Desk (DS)

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