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September 25, 2021, 2:13 am

Exports to UK on course for record year

(15:15:14 PM 23/07/2013)
(Tinmoitruong.vn) - Vietnam’s exports to the UK soared 41.6 percent to top 1.76 billion USD during the first half of this year, according to the General Department of Customs.

 

Illustrative image (Source: VNA)



Telephones and components accounted for the lion’s share with a total value of 611 million USD, up 79.5 percent year-on-year. This was followed by footwear with 260.1 million USD (up 4.5 percent) and garments, 205.1 million USD (up 4 percent).

Despite lagging behind the standout performers in terms of turnover, computers, electronics and components experienced the highest export growth rate, spiking 315.5 percent to reach nearly 173 million USD.

Other commodities which enjoyed high revenue growth included wood products, coffee, seafood and ceramics.

The first six months, meanwhile, saw a turnover slump for exports such as cashew nuts, fruit and vegetables, iron, steel and electrical wire/cable.

Last year, two ways trade reached 4.37 billion USD, rising 35.5 percent from 2011, according to statistics from the Trade Office of the Vietnamese Embassy in the UK .

Vietnam earned a total of 3.9 billion USD from exporting goods to the UK in 2012, up 44.3 percent from 2011.

The Embassy’s Trade Counsellor Nguyen Thi Hong Thuy outlined poor language skills and a lack of knowledge in trade laws, culture and international business customs as major obstacles which had hindered Vietnamese goods being shipped overseas.

In order to expand trade relations sustainably, she urged Vietnamese businesses to focus on improving awareness in these areas, while intensifying trade promotion activities.

Expert have branded the UK a demanding market as its consumers have paid increasing interests to health and environmental issues.

They added that Vietnamese businesses would make higher profits if they could meet the UK’s strict requirements.

VNS
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