ASEAN remains important export market of Vietnam

Illustrative image (Source: VNA)

The Association of Southeast Asian Nations (ASEAN) remains an important market of Vietnam with export revenue hitting 10.85 billion USD in the first four months of this year, accounting for 10% of the country’s total.

In the January-April period, Vietnam’s exports to ASEAN member countries fell 4.7% year on year, a low level compared to the country’s 13% drop of overall export revenue in the period.

Particularly, among the 24 export markets with turnover of over 1 billion USD, six are ASEAN members.

Meanwhile, imports from ASEAN member countries in the first four months of 2023 was 13.360 billion USD, accounting for 13.4% of Vietnam’s total imports, down 17.6% year on year, resulting in a trade deficit of 2.51 billion USD, a decrease of 48% compared to the same period last year.

Thailand was the largest market of Vietnam among ASEAN member countries, with two-way trade reaching 6.25 billion USD. Vietnamese products with export revenue of over 10 million USD included telephones and accessories; machineries, equipment and spare parts; transport vehicles; crude oil; computers and electronics.

Thailand was followed by the Philippines with 1.73 billion USD, up 7% year on year, and Indonesia, Cambodia, and Malaysia./.