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Viet Nam-United Kingdom Bilateral Trade Analysis 2023

Complete trade statistics: $10.14B total volume •Viet Nam surplus: $8.30B

Viet Nam → United Kingdom

$9.22B

Exports (2023)

United Kingdom → Viet Nam

$920.20M

Imports (2023)

Trade Balance

$8.30B

Surplus for Viet Nam

Total Trade

$10.14B

Combined Volume

Trade Flow Visualization

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

Detailed Product Trade Analysis

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

Viet Nam → United Kingdom Exports

$9.22B
2023 Total

Export Market Intelligence

Product Diversity:
Highly Diversified
Market Share:
15.7% top product
1Telephones for cellular networks or for other wireless networks
$1.45B
15.7% of exports
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 exports
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 exports
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 exports
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 exports
6Footwear: (other than sportswear), with outer soles of rubber or plastics and uppers of textile materials
$238.48M
2.6% of exports
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 exports
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 exports
9Furniture: wooden, other than for office, kitchen or bedroom use
$156.51M
1.7% of exports
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 exports

🎯 Strategic Export Focus

Viet Nam's export portfolio to United Kingdom demonstrates strong diversification across multiple sectors, with telephones for cellular networks or for other wireless networks representing a key competitive advantage in this bilateral market.

United Kingdom → Viet Nam Imports

$920.20M
2023 Total

Import Dependency Profile

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

📦 Import Strategy Analysis

Viet Nam's import pattern from United Kingdom reveals significant dependencyin whiskies, highlighting complementary economic structures and potential supply chain optimization opportunities.

Competitive Trade Position Analysis

🏆

Market Leadership

Viet Nam demonstrates competitive strength in exportingtelephones for cellular networks or for other wireless networks to United Kingdom, 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: Viet Nam-United Kingdom Trade Relationship

Key Trade Highlights 2023

  • Total Trade Volume: $10.14 billionrepresenting a significant bilateral economic relationship
  • Trade Balance: Viet Nam maintains a surplus of $8.30 billion
  • Export Focus: Viet Nam's primary exports 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
  • Import Dependencies: Key imports from United Kingdom 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

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 Viet Nam leveraging its comparative advantages in telephones for cellular networks or for other wireless networks.

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

Viet Nam's specialization in telephones for cellular networks or for other wireless networkscomplements United Kingdom's demand patterns, creating natural trade synergies.

2

Supply Chain Integration

Deep integration in global value chains has strengthened bilateral linkages, particularly in whiskies.

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

Supply Chain Integration: Diversified
⚖️

Trade Balance Effects

Viet Nam's trade surplus of $8.30 billion strengthens its overall economic position in this bilateral relationship.

Balance Impact: Export Advantage

Strategic Future Outlook

🚀Growth Opportunities

Emerging Sectors
Technology transfer and innovation cooperation in 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 present expansion opportunities.
Market Diversification
Beyond current focus on whiskies, 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 telephones for cellular networks or for other wireless networks 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 Viet Nam and United Kingdom represents a total trade volume of $10.14 billion in 2023. This partnership demonstrates a favorable trade balance for Viet Nam, with exports exceeding importsby $8.30 billion.

Export Strengths

Viet Nam's exports to United Kingdom total $9.22 billion, with competitive advantages in telephones for cellular networks or for other wireless networks, representing $1.45B or15.7% of bilateral exports.

Import Dependencies

Imports from United Kingdom amount to $920.20 million, highlighting economic interdependence in whiskies, with Whiskies comprising6.8% of total imports.

The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Viet Nam's competitive position in this bilateral relationship. 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 Viet Nam and United Kingdom in multiple formats.

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