VCN – Total turnover in general and many key commodity groups exported to Malaysia achieved high growth in the first months of the year.
 |
| Sketched by T.Bình |
According to General Department of Vietnam Customs, export turnover of goods to the Malaysian market in the first seven months of 2022 reached US$3.46 billion, rising by 42.4% over the same period in 2021, equaling an increase of more than US$1 billion.
The largest group of export items to this Southeast Asian market is computers, electronic products and components. By the end of July, this group reached US$808.7 million, growing by 101% over the same period last year (equivalent to US$406.36 million), accounting for 23.37% of the total export turnover to Malaysia.
Other major export groups such as iron and steel of all kinds, reached US$422 million, an increase of 19.3%; machinery, equipment, tools and spare parts reached US$306.55 million, growing by 63%; phones and components reached US$213.8 million, rising by 34.2%.
In the past seven months, Malaysia has been the 3rd largest export market of Vietnam in Southeast Asia (after Thailand and Cambodia).
On the other hand, in the first seven months of the year, Vietnam spent US$5.54 billion importing goods from Malaysia, increasing by 14.7% over the same period last year.
Although Vietnam is still suffering a trade deficit, thanks to a higher growth rate of exports than imports, Vietnam’s trade deficit is on a downward trend.
Specifically, in the first seven months of the year, Vietnam witnessed a trade deficit of more than US$2.08 billion, while the same period last year was US$2.4 billion.
By Thái Bình/Thanh Thuy