UK-Vietnam trade reached $6.6 bn in 2021—a rise of 17 percent year on year (YoY) and equivalent to the pre-pandemic period. While Vietnamese export to the United Kingdom rose by 16.4 percent YoY to $5.7 bn, UK’s exports to Vietnam also rose by 23.6 percent YoY to $850 mn, 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 percent, according to a report. Government data showed in the first half of 2022, the country exported $2.9 bn of commodities to the United Kingdom while importing goods worth more than $372.5 mn.
