According to the General Department of Customs, in the first eight months of 2024, Vietnam - ASEAN trade reached 54.9 billion USD, up 12.5% year on year. Vietnam had a trade deficit of 5.6 billion USD in goods from this bloc.
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| Thailand is Vietnam’s largest export market in ASEAN. (Photo: congthuong.vn) |
In the eight months, Vietnam earned 24.6 billion USD from exporting goods to the bloc, up 12.6% year on year.
Thailand continued to be the largest export market with a value of 5.23 billion USD, up 7.2% year on year. It was followed by Indonesia with 4.15 billion USD and the Philippines with 4.07 billion USD, up 23.6% and 17% respectively year on year.
Also in the billion-USD group, goods exported to Cambodia were valued at 3.52 billion USD, up 3.9% year on year; Malaysia, 3.48 billion USD, up 4.2% and Singapore, 3.46 billion USD, up 26.3%.
Goods exported to six markets with a turnover of a billion USD in the bloc reached a total of 23.93 billion USD, accounting for 97% of the exports to ASEAN.
In the bloc, Myanmar was the only export market with a decrease in turnover, down 36.7% from the same period last year, to 197 million USD.
In contrast, export turnover to Brunei increased by 569% year on year, to 87.7 million USD. Vietnam also earned 429 million USD from exporting goods to Laos, up 20.6% year on year.
During the period, Vietnam spent 30.2 billion USD importing goods from ASEAN, up 12.4% year on year.
Thailand was the highest import market with 7.8 billion USD, up slightly by 1.3% year on year. The other two markets with import turnover of over 6 billion USD were Indonesia with 6.5 billion USD, up 14.5% and Malaysia with 6.14 billion USD, up 22.4% year on year./.