Vietnam trade deficit with Thailand widens as imports climb
(VOV) - Vietnam’s trade deficit with Thailand broadened by US$3.50 billion in the 10 months leading up to November as the country’s imports continued to outpace exports, according to the most recent statistics from Vietnam Customs.
Vietnam’s imports for the 10 month period jumped 12.2% on-year to US$6.44 billion outpacing exports which grew just 10.5% on-year to US$2.94 billion.
Telephones, mobile phones and parts imports notched a 75.3% on-year increase, grossing US$692 million for the period. Meanwhile, Vietnam’s key exports were machines, steel, iron, computers, electronics and components.
However, the trade volume with Thailand remains nominal in relation to the total turnover of each nation, the customs office reports. Last year the two-way trade volume with Thailand accounted for just 3.5% of the nation’s total import-export turnover.