Ho Chi Minh Times

Friday, Dec 27, 2024

Vietnam’s Exports to the UK Surge with E-commerce as a Key Driver

Tariff advantages and digital platforms boost Vietnam’s competitive edge in the UK market.
Vietnam’s exports to the United Kingdom reached nearly six point four billion United States dollars in the first ten months of 2024, marking a twenty-two percent increase from the previous year. This growth is largely driven by the Việt Nam – UK Free Trade Agreement, which offers significant tariff reductions, enhancing Vietnam's competitiveness against countries without similar agreements.

Key export sectors include textiles, footwear, electronics, and processed foods, with growing potential in healthcare products and steel. Vietnamese brands such as ST25 rice and Nature Queen herbal products are increasingly visible in UK retail chains, reflecting a stronger market presence.

E-commerce is emerging as a vital channel for export growth. Thirteen percent of Vietnamese businesses now utilize e-commerce platforms for import-export activities, with more than half of them relying on established global marketplaces like Amazon and eBay. However, challenges remain, including the need for improved digital infrastructure, workforce training, and streamlined logistics.

Government initiatives, such as the Online Export Ecosystem (Ecomex), aim to support businesses in their digital transformation and international market expansion. With continued investment in infrastructure, training, and logistics partnerships, Vietnam is well-positioned to strengthen its foothold in the UK market and drive further export growth.
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