According to latest statistics from the Industry and Trade Information Centre, two-way trade turnover between Vietnam and Thailand hit US$7.84 billion in the first eight months of this year, up 6.2% over the same period last year. Of the figure, imports from Thailand were valued at US$5.41 billion, up 4.4% and exports to the market were US$2.43 billion, up 10.3%.
Import products from Thailand are diversified, including home appliances, machines, equipment, tools, automobiles and spare parts, plastic materials, computers, electronics, petroleum, fruits and vegetables.
Home appliances and components led among import products with a value of US$681.6 million, trailed by machines, equipment, and tools (US$525.4 million) and automobile spare parts (US$437.1 million).
Most import products saw higher growth rates compared to the same period last year, some products even obtained a sharp growth like fertilizer (up 116%), mental products (up 72%), CBU cars (63.8%) and fruits and vegetables (up 62.4%).
According to experts, Thai products dominating the domestic market because they are cheaper than Japanese and Korean products while their quality is higher than Vietnamese and Chinese goods.