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UK exports to Vietnam grow by 23.6% in 2021 after UKVFTA
10 Jul '22
1 min read
Pic: Shutterstock
UK-Vietnam trade reached $6.6 billion in 2021—a rise of 17 per cent year on year (YoY) and equivalent to the pre-pandemic period. While Vietnamese export to the United Kingdom rose by 16.4 per cent YoY to $5.7 billion, UK’s exports to Vietnam also rose by 23.6 per cent YoY to $850 million, according to data from the General Department of Vietnam Customs.
The UK-Vietnam Free Trade Agreement (UKVFTA) came into effect in early 2021.
In 2021, import of textile, garment and footwear materials from the United Kingdom witnessed a growth of 24.7 per cent, according to a news agency report.
Government data showed in the first half of 2022, the country exported $2.9 billion of commodities to the United Kingdom while importing goods worth more than $372.5 million.
Fibre2Fashion News Desk (DS)
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