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.

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A round-table meeting to promote livestock products export-import between Vietnam and Malaysia held in Kualar Lumpur in April 2018 (Source: VNA)
Of the volume, Vietnam’s imports from Malaysia were worth nearly US$3.84 billion, up more than 42% compared to the same period last year, while exports dropped 5.46% to US$2 billion. As such, Vietnam ran a trade deficit of US$1.83 billion with Malaysia in the first half of this year. 

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. 

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