Vietnam records US$2.34 billion trade surplus with the UK

Bilateral trade between Vietnam and the UK reached US 3 12 billion in the first half of this year
vietnam records us 234 billion trade surplus with the uk

In the period, Vietnam’s exports to the UK were seven times higher than imports, resulting in a surplus of US$2.34 billion.

Key export products focus on the products of the country's greatest competitive advantage such as telephones and components, garment, footwear and seafood.

Telephones and components topped the list with US$1.08 billion, accounting for 40% of the country’s total exports.

Garment ranked second with nearly US$348 million, up 4.8% against the same period last year, but making up only 2.6% of the country’s total garment exports.

Footwear exports to the UK reached US$325 million, down 2.4% and accounting for only 4.2% of the country’s total footwear export value.

Three other groups of export products to the UK which obtained an export value of more than US$100 million each are seafood (US$127 million), wood and timber products (US$143 million) and electronics and components (US$113 million).

Vietnam Customs also said that exports to the UK last year surged 10.7% to US$5.4 billion, making it the eighth biggest market for Vietnamese products.

Meanwhile imports from the UK also inked 2.1% to US$739 million, ranking the 26th among exporters to the Southeast Asia.

Statistics showed that the UK was among 15 biggest trade partner of Vietnam in the 2013-2017 period.

Bilateral trade increased from US$4.27 billion in 2013 to US$6.15 billion in 2017.

Vietnam has always run a trade surplus with the European country over the last five years.

The trade surplus jumped from US$3 billion in 2014 to US$4.68 billion in 2017.

Source: VNA

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