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United Kingdom-Viet Nam Bilateral Trade Analysis 2023

Complete trade statistics: $10.14B total volume •United Kingdom deficit: $8.30B

United Kingdom → Viet Nam

$920.20M

Exports (2023)

Viet Nam → United Kingdom

$9.22B

Imports (2023)

Trade Balance

$8.30B

Deficit for United Kingdom

Total Trade

$10.14B

Combined Volume

Trade Flow Visualization

Direct trade relationship between United Kingdom and Viet Nam. Green line shows exports from United Kingdom, red line shows imports.

Detailed Product Trade Analysis

Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the United Kingdom-Viet Nam commercial relationship and competitive positioning in global markets.

United Kingdom → Viet Nam Exports

$920.20M
2023 Total

Export Market Intelligence

Product Diversity:
Highly Diversified
Market Share:
6.8% top product
1Whiskies
$62.74M
6.8% of exports
2Dresses: women's or girls', of cotton, knitted or crocheted
$56.96M
6.2% of exports
3Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
$51.61M
5.6% of exports
4Paper or paperboard: waste and scrap, of unbleached kraft paper or paperboard or corrugated paper or paperboard
$41.83M
4.5% of exports
5Paper or paperboard: waste and scrap, of paper or paperboard n.e.c. in heading no. 4707 and of unsorted waste and scrap
$30.27M
3.3% of exports
6Plastics: plates, sheets, film, foil and strip, of plastics n.e.c. in heading no. 3921, cellular
$27.51M
3.0% of exports
7Medicaments: containing penicillins, streptomycins or their derivatives, for therapeutic or prophylactic uses, packaged for retail sale
$25.52M
2.8% of exports
8Flours, meals and pellets: of meat or meat offal, greaves
$17.27M
1.9% of exports
9Vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc
$17.08M
1.9% of exports
10Aircraft and spacecraft: parts of aeroplanes or helicopters n.e.c. in heading no. 8803
$14.29M
1.6% of exports

🎯 Strategic Export Focus

United Kingdom's export portfolio to Viet Nam demonstrates strong diversification across multiple sectors, with whiskies representing a key competitive advantage in this bilateral market.

Viet Nam → United Kingdom Imports

$9.22B
2023 Total

Import Dependency Profile

Supply Diversity:
Well Diversified
Critical Imports:
15.7% concentration
1Telephones for cellular networks or for other wireless networks
$1.45B
15.7% of imports
2Communication apparatus (excluding telephone sets or base stations): machines for the reception, conversion and transmission or regeneration of voice, images or other data, including switching and routing apparatus
$958.37M
10.4% of imports
3Sports footwear: tennis shoes, basketball shoes, gym shoes, training shoes and the like, with outer soles of rubber or plastics and uppers of textile materials
$433.41M
4.7% of imports
4Automatic data processing machines: portable, weighing not more than 10kg, consisting of at least a central processing unit, a keyboard and a display
$342.70M
3.7% of imports
5Footwear: n.e.c. in heading no. 6403, (not covering the ankle), outer soles of rubber, plastics or composition leather, uppers of leather
$340.22M
3.7% of imports
6Footwear: (other than sportswear), with outer soles of rubber or plastics and uppers of textile materials
$238.48M
2.6% of imports
7Reception and transmission apparatus: for use with the apparatus of heading no. 8525 to 8528, excluding aerials and aerial reflectors
$188.97M
2.1% of imports
8Footwear: n.e.c. in heading no. 6402, (other than just covering the ankle), with outer soles and uppers of rubber or plastics
$184.00M
2.0% of imports
9Furniture: wooden, other than for office, kitchen or bedroom use
$156.51M
1.7% of imports
10Communication apparatus (excluding telephone sets or base stations): machines for the transmission or reception of voice, images or other data (including wired/wireless networks), n.e.c. in item no. 8517.6
$155.49M
1.7% of imports

📦 Import Strategy Analysis

United Kingdom's import pattern from Viet Nam reveals significant dependencyin telephones for cellular networks or for other wireless networks, highlighting complementary economic structures and potential supply chain optimization opportunities.

Competitive Trade Position Analysis

🏆

Market Leadership

United Kingdom demonstrates competitive strength in exportingwhiskies to Viet Nam, leveraging comparative advantages.

Export Leader in 20+ Categories
🔄

Trade Complementarity

The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.

Specialized Exchange
📈

Growth Potential

The $10.14B trade volume indicates substantial economic integration with room for expansion in emerging sectors.

Major Partnership

Executive Summary: United Kingdom-Viet Nam Trade Relationship

Key Trade Highlights 2023

  • Total Trade Volume: $10.14 billionrepresenting a significant bilateral economic relationship
  • Trade Balance: United Kingdom maintains a deficit of $8.30 billion
  • Export Focus: United Kingdom's primary exports include whiskies, dresses: women's or girls', of cotton, knitted or crocheted, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
  • Import Dependencies: Key imports from Viet Nam include telephones for cellular networks or for other wireless networks, communication apparatus (excluding telephone sets or base stations): machines for the reception, conversion and transmission or regeneration of voice, images or other data, including switching and routing apparatus, sports footwear: tennis shoes, basketball shoes, gym shoes, training shoes and the like, with outer soles of rubber or plastics and uppers of textile materials

Strategic Trade Indicators

Trade IntensityHigh
Export DiversificationDiversified
Trade Balance HealthImbalanced

📈 Market Position: This bilateral trade relationship represents a significant global trade partnerships, with complementary economic strengths driving sustained commercial exchange.

Historical Trade Analysis & Economic Context

Trade Evolution Timeline

2019-2023: Recent Trends

Current trade volume of $10.14B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.

2015-2019: Growth Period

Sustained expansion in bilateral trade driven by complementary economic structures, with United Kingdom leveraging its comparative advantages in whiskies.

2010-2015: Foundation Building

Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.

Pre-2010: Early Development

Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.

Key Economic Drivers

1

Comparative Advantage

United Kingdom's specialization in whiskiescomplements Viet Nam's demand patterns, creating natural trade synergies.

2

Supply Chain Integration

Deep integration in global value chains has strengthened bilateral linkages, particularly in telephones for cellular networks or for other wireless networks.

3

Market Access & Trade Policy

Favorable trade agreements and market access conditions have facilitated the growth of this $10.14B bilateral relationship.

Trade Pattern Insights

Trade ComplementarityAsymmetric
Seasonal VariationsModerate
Product ConcentrationLow
Market DependencyHigh
🔮

Trade Relationship Outlook

The $10.14B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.

Economic Impact & Strategic Outlook

Economic Impact Assessment

💰

Trade Volume Impact

The $10.14 billion bilateral trade volume represents a significant economic factorfor both economies.

Economic Significance: High
🏭

Industrial Integration

Trade flows in whiskies and telephones for cellular networks or for other wireless networks demonstrate deep industrial linkages and supply chain integration.

Supply Chain Integration: Diversified
⚖️

Trade Balance Effects

United Kingdom's trade deficit of $8.30 billion impacts its overall economic position in this bilateral relationship.

Balance Impact: Import Dependency

Strategic Future Outlook

🚀Growth Opportunities

Emerging Sectors
Technology transfer and innovation cooperation in dresses: women's or girls', of cotton, knitted or crocheted present expansion opportunities.
Market Diversification
Beyond current focus on telephones for cellular networks or for other wireless networks, new product categories offer potential for trade expansion.

⚠️Risk Factors

Supply Chain Vulnerabilities
High trade imbalance may create supply chain risks
Market Competition
Global competition in whiskies may affect future market positioning.

🎯Strategic Recommendations

  • Strengthen cooperation in high-value sectors beyond current trade patterns
  • Develop alternative supply chains to reduce dependency risks
  • Explore joint ventures in emerging technology sectors
  • Enhance trade facilitation and reduce transaction costs

Market Position & Competitive Summary

The bilateral trade relationship between United Kingdom and Viet Nam represents a total trade volume of $10.14 billion in 2023. This partnership demonstrates an unfavorable trade balance for United Kingdom, with imports exceeding exportsby $8.30 billion.

Export Strengths

United Kingdom's exports to Viet Nam total $920.20 million, with competitive advantages in whiskies, representing $62.74M or6.8% of bilateral exports.

Import Dependencies

Imports from Viet Nam amount to $9.22 billion, highlighting economic interdependence in telephones for cellular networks or for other wireless networks, with Telephones for cellular networks or for other wireless networks comprising15.7% of total imports.

The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates United Kingdom's strategic sourcing from Viet Nam. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.

Download Bilateral Trade Data

Access detailed trade data between United Kingdom and Viet Nam in multiple formats.

Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023