Trade with ASEAN up 35% in January

The Government News quoted the General Department of Vietnam Customs as reporting on February 22 that Vietnam’s trade turnover with other ASEAN member countries recorded a year-on-year increase of 35 per cent in January, reaching $6.81 billion, including $3.19 billion from exports, which was up 45 per cent year-on-year and accounted for 9.2 per cent of the country’s total export value in the month.

Thailand remains the largest importer of Vietnam’s commodities in the bloc, with $734 million, up 31.6 per cent year-on-year and accounting for 22 per cent of the total.

It was followed by Indonesia, with $562 million, up 59 per cent, the Philippines with $498 million, up 71 per cent, Cambodia with $448 million, up 17 per cent, Malaysia with $464 million, up 73 per cent and Singapore with $397 million, up 36 per cent.

Vietnam’s exports to Laos posted remarkable growth of 104 per cent in the month, reaching $56 million.

Meanwhile, Vietnam’s imports from other ASSEAN countries stood at $3.62 billion, up 28 per cent and accounting for 11.7 per cent of its total import turnover.

It therefore recorded a trade deficit of $430 million with other ASEAN members in January.

Its trade value with ASEAN stood at $73.4 billion last year, including $32.5 billion from exports.