7-month Vietnam–ASEAN trade hits four year high at US$52.9 billion
VOV.VN - Total import–export turnover between Vietnam and ASEAN reached US$52.91 billion in the first seven months of this year, up 10.3% year on year and the highest level for the 2022–2025 period, according to Vietnam Customs.
Indeed, six out of nine ASEAN markets posted positive growth in trade with Vietnam during the January- July period.
Thailand was Vietnam’s largest trading partner in the bloc, with two-way trade hitting US$12.29 billion, up 8%. It was followed by Indonesia (US$9.95 billion, up 8.5%), Malaysia (US$9.23 billion, up 8%), and Cambodia (US$7.02 billion, up 16.3%).
Notably, Laos recorded the most dramatic growth among ASEAN partners, with trade turnover seeing an annual rise of 79.3% to US$2 billion.
In contrast, trade with the Philippines dipped by 2% to US$4.81 billion, Myanmar dropped 12.8% to US$317 million, and Brunei declined 21.8% to US$298 million.
Meanwhile, Vietnam earned US$4.84 billion from exports to Thailand, US$3.38 billion from Singapore, and US$3.23 billion from Cambodia, up 4.6%, 11.4% and 5% respectively. But its exports to Indonesia, Malaysia and the Philippines all fell from 1% to 4%.
Thailand was the largest supplier of goods to Vietnam, followed by Indonesia and Malaysia.
Enhancing presence of Vietnamese goods in ASEAN market is essential
As Vietnam’s export turnover has yet to fully reflect its potential within the ASEAN region, enhancing the presence of Vietnamese goods and seizing opportunities in this market is essential, particularly amid tariff fluctuations.
