Investment Thứ năm, 25/07/2013 08:56

Exports to UK on course for record year

Vietnam's exports to the UK soared 41.6 percent to top USD1.76 billion during the first half of this year, according to the General Department of Customs.


Telephones and components accounted for the lion's share with a total value of USD611 million , up 79.5 percent year-on-year. This was followed by footwear with USD260.1 million (up 4.5 percent) and garments, USD205.1 million (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 USD173 million.

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 USD4.37 billion, 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 USD3.9 billion 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.

Experts 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./.  (CPV/VNA)

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