Vietnam enjoys nearly 4.5 billion USD in trade surplus with UK

07/01/2022 11:44 - 102 Views

Trade between Vietnam and the UK reached over 6 billion USD as of November 2021, up 17 percent year on year, with Vietnam enjoying surplus of 4.46 billion USD, the General Department of Vietnam Customs reported.

According to the Ministry of Industry and Trade, this was a miracle amid the COVID-19 pandemic when the market demand dropped and the container crisis prolonged.

The ministry attributed the results to the Vietnam-UK Free Trade Agreement, which took effect temporarily from January 1, 2021 and officially from May 1, 2021.

Specifically, in the first 11 months of 2021, Vietnam earned 5.24 billion USD from exporting goods to the UK. Strong rise was seen in exports of steel, rubber, farm produce, rattan products, peppercorn and pottery products.

Meanwhile, Vietnam imported over 778 million USD worth of goods from the UK, up 27.3 percent year on year, mostly metal, telephones and accessories, garment and textile materials, leather and footwear, medicine and completely-built-up cars.

Source: NDO