Vietnam, Malaysia enjoy thriving trade

Wednesday, 17:30, 05/07/2017

Vietnam and Malaysia recorded a two-way trade value of over US$3.97 billion in the first five months of 2017, an increase of 27.9% year-on-year, according to the Vietnamese Trade Office in Malaysia.

Of the sum, Vietnam’s exports hit US$1.73 billion, up 57.2% while its imports were worth US$2.23 billion, rising 11.8%.

Malaysia is the eighth largest trade partner of Vietnam, accounting for 2.4% of the market share, after China, the Republic of Korea, the US, the European Union, Japan, Taiwan (China) and Thailand.

Bilateral trade turnover is projected at about US$9.5 billion this year.

The Malaysian Department of Statistics said the country’s gross domestic product (GDP) was at 5.6% in the first quarter, the highest growth recorded in recent two years.

Malaysia’s economy is expected to continue recovering in the next six months and its GDP in 2017 will grow at 4.5 - 4.8%.

VNA

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Vietnam, Malaysia enjoy thriving trade

Vietnam and Malaysia recorded a two-way trade value of over US$3.97 billion in the first five months of 2017, an increase of 27.9% year-on-year, according to the Vietnamese Trade Office in Malaysia.