Vietnam’s deficit is more than US$ 3 billion over ASEAN countries

	Vietnam puts forth initiatives for Mekong – Japan cooperation
	10 ASEAN Photo Trophy Winners
	ASEAN foreign ministers agree on draft COC framework

The chart of the value of import and export between Vietnam and the five largest partners in ASEAN, by the end of June 2017. By Thai Binh, unit: US$ billion.

This was the result of the first half of 2017, according to market statistics of the General Department of Vietnam Customs. In the total value of trade between Vietnam and other members, Vietnam exports reached US$ 10.45 billion, while imports from its counterparties amounted to US$ 13.58 billion. Thus, Vietnam’s deficit is US$ 3.13 billion.

Notably, Vietnam is experiencing a trade deficit with all major economies in the region such as Thailand, Singapore, Indonesia or Malaysia.

In particular, the end of June, Thailand continues to be the largest trade partner of Vietnam with the total value of import and export between the two countries reached a loss of $ 7 billion. However, this is also the market where our country has the largest trade deficit in ASEAN with the trade deficit of 2.53 billion USD (Vietnam exported 2.223 billion USD and imported 4.753 billion USD).

For the Thai market, the largest imported items included home appliances and components with a turnover of US$ 533.6 million (by the end of June 2017); machinery, equipment, tools, and spare parts with a turnover of nearly US$ 430 million; vegetables and fruits with a turnover of US$ 362.3 million. Meanwhile, Thailand imported phones and components with a value of nearly US$ 500 million from Vietnam. Next, computers, electronic products and components reached nearly US$ 253 million; crude oil reached US$ 217.3 million; and means of transport and spare parts reached US$ 157 million.

Other major markets in ASEAN with a value of US$ 1 billion or more included Malaysia with a turnover of US$ 4.821 billion; Singapore with a turnover of US$ 4.368 billion; Indonesia with a turnover of US$ 3.188 billion, Cambodia with a turnover of $US 1.968 billion; and Philippines with a turnover of US$ 1.854 billion.

Meanwhile, trade between Vietnam and Brunei reached only US$ 20 million, of which Vietnam exported US$ 10.45 million with 2 main commodities: seafood and rice; while Vietnam imported goods of $US 8.28 million, mainly chemicals from Brunei.

ASEAN, an important regional and global partner Since its establishment 50 years ago, ASEAN has become a strong community and an important partner with ...

At present, ASEAN is Vietnam's fourth largest trading partner after China (total trade turnover reached US$ 39.85 billion); South Korea (US$ 29.12 billion); and the United States (US$ 24.417 billion).