ASEAN – leading trade partner of VN
VGP - ASEAN is the second largest trader of Viet Nam, after China, and the third biggest export market of the country, after the US and the EU, according to the General Department of Viet Nam Customs (GDVC).
 |
By the end of September, total trade value between Viet Nam and ASEAN reached US$30.63 billion, a 4.1% year-on-year rise, but the ever lowest growth rate to date.
Viet Nam’s exports to the market were worth US$13.64 billion, a slight increase of 0.3%, accounting for 12.4% of the country’s total export value gained globally.
The country mainly shipped crude oil, steel, machines, equipment, components, rice, textile-garment and aqua-cultural products.
Year-on-year export falls were seen in computers, electronic products, phones and phone components, oil and gas, transportation vehicles and their components.
Vietnamese businesses spent US$16.99 billion importing goods from other ASEAN countries, or a 7.4% increase year on year, accounting for 15.8% of the country’s total import cost.
Rise was recorded in the import of oil and gas, timber, wood products, machines, components, material plastics, fruits, metal, phones and phone components. Meanhile, a sharp decrease was seen in crude oil, fertilizers, cattle feed and materials, milk and dairy products.
As a result, the situation generated a deficit of US$3.35 billion, accounting for 24.5% of the country’s export value to ASEAN.
Meanwhile, a US$3.11 billion surplus was seen in trade with Cambodia, the Philippines, Indonesia, Myanmar and Brunei, while a deficit, at US$6.46 billion, was recorded in trade with Singapore, Thailand, Laos and Malaysia.
Singapore was Viet Nam's biggest ASEAN trader so far this year, followed by Malaysia, Myanmar, Thailand, Cambodia, Indonesia, Laos, the Philippines and Brunei, said the GDVC.
By Vien Nhu
