(VOV) - Bilateral trade turnover between Vietnam and the UK reached US$3.4 billion in the first eight months of the year, up 25% against the same period last year, according to the Vietnamese embassy’s trade office in the UK and Northern Ireland.
Of the total figure, Vietnam’s exports to the UK accounted for US$3.12 billion (up 28%).
Among its key items were audio and visual equipment, mobile phones, components of data processors, digital and automatic machines, coffee, footwear, interior wooden products and plastic bags.
This year’s total bilateral trade turnover between the two countries is estimated at some US$5.12 billion, up 17% from last year’s figure.
Vietnamese Embassy Trade Councilor Nguyen Thi Hong Thuy said that due to the negative impact of global economic downturn, two-way trade exchange continues to increase sharply with an average annual growth rate of over 30%.
She put the modest growth down to the weak competitiveness of Vietnamese goods compared to those coming from China, Thailand and India. Another reason is geographical distance and difference in business customs.
In addition, many Vietnamese are more focused on developing markets in the Asian region than on potential opportunities in the UK.
Vietnam is now placed 43rd in the UK list of 235 trade partners, with its bilateral trade exchange accounting for just 0.34% of the total trade turnover between the UK and other countries in the world.
Last year, Vietnam ranked 34th among 229 exporters of goods to the UK and 73th among 230 importers of goods from the third largest economy in Europe with bilateral trade turnover estimated at US$4.37 billion, up 35.5% against the previous year’s figure.
Đăng ký: VietNam News
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