AsemconnectVietnam - According to the preliminary statistics figures from the General Department of Customs, in the first 2 months of 2024, the two-way trade turnover between Vietnam and Thailand reached 2.95 billion USD, down by 0.6% compared to the same period of 2023.

Of which, Vietnam's exports to Thailand reached 1.32 billion USD, an increase of 11.7% over the same period last year, and Vietnam's imports of goods from Thailand reached nearly 1.63 billion USD, a decrease of 8.8% compared to the first 2 months of 2023.
Vietnam's exports of goods to Thailand in February and the first 2 months of 2024
According to the statistics figures of the General Department of Customs, the export turnover of Vietnamese goods to the Thai market in February of 2024 reached 568.4 million USD, down by 22.6% compared to the previous month.
Overall, in the first 2 months of 2024, Vietnam's exports to Thailand reached 1.32 billion USD, an increase of 11.7% over the same period last year.
Main product groups exported to Thailand in the first 2 months of 2024
In the first 2 months of 2024, leading export turnover was the group of all kinds of phones and components, reaching 236.2 million USD, up by 19.7% over the same period last year, accounting for 17.8% of the total. The next was the group of machinery, equipment, tools and spare parts, reaching 158.8 million USD, an increase of 11.8%, accounting for 11.9% of the export proportion.
Some product groups exported to Thailand increased in the first 2 months of 2024 compared to the same period last year: chemical products increased by 220.5%; plastic products increased by 123.1%; fruit and vegetable products increased by 125.2%; coffee increased by 224.2%; glass and glass products increased by 633.1%.
Thailand has a diverse distribution channel system, creating many opportunities for Vietnamese goods to penetrate these systems and reach Thai consumers.
In addition, Vietnam - Thailand and other ASEAN countries participate in many bilateral and multilateral trade agreements and agreements such as the ASEAN Trade in Goods Agreement (ATIGA), Free Trade Agreements, and more between ASEAN and partner countries; especially the Regional Comprehensive Economic Partnership (RCEP). This not only helps tariff barriers on the two countries' goods have basically been removed, opening up many opportunities for import and export goods, but also creates favorable conditions for Vietnam and Thailand to cooperate in building the supply chain, production chain and promoting exports to third countries.
Vietnam's imports of goods from Thailand in February and the first 2 months of 2024
In the first 2 months of this year, the total amount of goods imported from Thailand into Vietnam reached nearly 1.63 billion USD, down by 8.8% compared to the first 2 months of 2023.
Particularly in February of 2024, the country’s import turnover from Thailand decreased by 16% compared to January of 2024, reaching 743.5 million USD and also decreased by 27% compared to February of 2023.
Vietnam's trade deficit from Thailand in the first 2 months of this year reached 303.6 million USD, down by 49.3% over the same period of 2023.
Main product groups imported from Thailand in the first 2 months of 2024
The largest group of imported goods from Thailand was computers, electronic products and components, reaching over 189.63 million USD, accounting for 11.7% of the total import turnover of all types of goods from this market, decreasing 38.5% compared to the first 2 months of 2023.
The group of household electrical appliances and components imported from Thailand ranked second in turnover, reaching 136.98 million USD, accounting for 8.4% of the total turnover, a sharp increase of 53%.
The next was the group of machinery, equipment, tools, and spare parts reached 131.83 million USD, accounting for 8.1% of the total turnover, down by 2.5%; CBU cars reached 112.67 million USD, accounting for 6.9%, down by 55.2%
CK
Source: VITIC