Vietnam-Malaysia trade up 21.15% in first half of 2018
Two-way trade value of Vietnam and Malaysia in the January-June period this year expanded 21.15% on a yearly basis to more than US$5.84 billion, according to statistics of the Vietnamese trade office in Malaysia.
A round-table meeting to promote livestock products export-import between Vietnam and Malaysia held in Kualar Lumpur in April 2018 (Source: VNA) |
It is noteworthy that Vietnam is importing more materials, fuels and machinery for production from Malaysia, and buying less consumer goods.
Major imports include petrol and oil (US$1.23 billion), computers, electronics goods and parts (more than US$620 million), machinery, equipment and tools (US$380 million), and metals (US$172.5 million).
Five groups of products earned Vietnam more than US$100 million in revenue each, including phones and parts (US$308.5 million), computers, electronics goods and parts (US$300 million), steel products (US$228 million) and rice (US$138.2 million).
Some export lines saw strong rises in the period, such as rice (112.7%), wood and wood products (109.41%), steel products (106.29%), glass and glass products (56.39%), and coffee (37.67%).
However, earnings of computers, electronics goods and parts dropped 56.33%.
Regarding investment, this year to June 20, Malaysia had 13 new investment projects in Vietnam worth a combined US$59.83 million, while six valid projects added US$12.09 million in total to their capital. Malaysian investors also spent US$105.95 million to buy stakes in Vietnamese companies. In total, Malaysia ranked 11th among foreign investors in Vietnam in the first half of the year with a total US$177.88 million.
Malaysia’s accumulated investment in Vietnam as of June 20, 2018, reached US$12.4 billion in 577 projects, ranking 8th among 128 countries and territories investing in the country.