Vietnam continues to enjoy large trade surplus in UK market
Vietnam enjoyed a 1.5 billion USD trade surplus with the UK for the first four months of 2018 as the country exported 1.75 billion USD worth of goods to the market and imported 238 million USD.
Hanoi (VNA) – Vietnam enjoyed a 1.5 billion USD trade surpluswith the UK for the first four months of 2018 as the country exported 1.75billion USD worth of goods to the market and imported 238 million USD.
According to the General Statistics Office (GSO), Vietnam’s exportrevenue to the European country in the first three months of 2018 reached 1.31billion USD, up 30.6 percent over the same period last year.
Meanwhile, Vietnam imported 185 million USD worth of goods from the UK, up17.6 percent year on year, resulting in a big trade imbalance.
From January until the end of April, Vietnam mainly exported to the UK telephonesand spare parts, footwear, garment, and aquatic products, with respectiveexport value exceeding 705 million USD, 201 million USD, 215 million USD and 78million USD.
At the same time, Vietnam imported from the UK 67 million USD worth ofmachineries, equipment and spare part, 45 million USD of pharmaceuticals and morethan 13 million USD of chemicals.
Earlier in 2013-2017, the UK was among the 15 largest trade partners ofVietnam with average annual growth of nearly 5 percent. Two-way trade grew atotal 44 percent in the review period to 6.15 billion USD in 2017 from 4.27billion USD in 2013.
Last year, the UK was the eighth biggest export market of Vietnam, oneposition higher than 2016. Meanwhile, it was Vietnam’s 26th biggestimport market, down two positions compared to the previous year.
In the past five years, Vietnam’s exports to the UK surged 46.4 percentto 5.42 billion USD, accounting for 2.5 percent of the country’s total exportvolume.
In the same period, the Southeast Asian’s import revenue in the UKmarket increased 30 percent, reaching 733 million USD in 2017.
Vietnam continuously enjoyed a large trade surplus with the UK, withlast year’s figure hitting 4.68 billion USD.
The UK is also the third biggest trade partner of Vietnam among EUcountries.-VNA
The UK always considers Vietnam as its important and potential trade partner and wants to expand multifaceted cooperation with the Southeast Asian nation.
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Illustrative Image (Source: VNA) 
