AsemconnectVietnam - The bilateral trade exchange between Vietnam and Malaysia and Indonesia saw growth in the first nine months of this year, according to the statistics figures of the General Department of Customs.

In the period, the country’s got $2.5 billion of deficit in trade exchange with Malaysia and $3.3 billion of deficit in trade exchange with Indonesia.

Trade exchange between Vietnam – Malaysia increased
The bilateral trade exchange between Vietnam and Malaysia totaled US$8.6 billion in the first nine months of this year, up by 17.1 per cent over the same period last year, showed the statistics figures of the General Department of Customs.

Of the figure, the country’s exports of goods to Malaysia reached $3 billion, down by 4.49 per cent year – on – year; and the country’s imports of goods from Malaysia

Meanwhile, the country’s imports of goods from Malaysia reached $5.6 billion, up by 34.2 per cent over the same period last year. So in the first nine months of this year, Vietnam got $2.5 billion of deficit in trade exchange with Malaysia.

In the period, the country’s imports of petroleum of all kinds reached 2.7 million tons worth of $1.7 billion, up by 38.6 per cent in quantity and 88.6 per cent in value year – on – year; computers, electronics and components – over $929.2 million, up by 19.51 per cent; machines, equipment and spare parts - $591.3 million, up by 31.61 per cent; ordinary metals - $256.9 million, up by 69.33 per cent.

However, the country’s imports of pharmaceuticals from Malaysia fell by 73.6 per cent; fragrant, cosmetics and hygiene products – down by 32.06 per cent; means of transport and spare parts – down by 47.84 per cent.

Also in the first nine months of this year, Vietnam’s exports of telephones and components to Malaysia reached $446.5 million; computers, electronics and components - $553.8 million; iron and steel of all kinds - $330.6 million; rice - $203.9 million; glass and products - $200.4 million; machines, equipment and spare parts - $144.3 million; means of transport and spare parts - $131.5 million.

In the period, the country’s exports of crude oil to Malaysia fell by 83.87 per cent in quantity and 78.07 per cent in value to 79,100 tons worth of $42.2 million; but the exports of iron and steel – up by 76.57 per cent in quantity and 98.96 per cent in value to 478,100 tons worth of $330.6 million, up by 12.68 per cent; and wood and furniture - $78.9 million, up by over 2 times or 109.81 per cent.

Malaysia is now the 8th biggest investor in Vietnam. By June of 2018, Malaysia had 577 projects in Vietnam with the total capital of over $12 billion. Within ASEAN, Malaysia is the second biggest trade partner of Vietnam after Thailand.

Vietnam’s exports of goods to Indonesia increased
Indonesia is now the fourth biggest trade partner in ASEAN. The bilateral trade exchange between Vietnam and Indonesia increased ceaselessly by 6.5 per cent in the 2012-2016 period, and reached US$6.5 billion in 2017.

The bilateral trade exchange between Vietnam and Indonesia reached over $6 billion in the first nine months of this year; and it is expected to reach $10 billion in 2020, according to the statistics figures of the General Department of Customs.

In the first nine months of this year, Vietnam exported $2.7 billion worth of goods to Indonesia, increased by 25.97 per cent over the same period last year.

Rice was the leading items exported by Vietnam to Indonesia in the first nine months of this year with 770,900 tons worth of $361.9 million, up by 5.9 times in quantity of 4,922.59 per cent in quantity and over 7.6 times or 6.613.49 per cent in value compared with the same period last year.

It was followed by iron and steel with 452,400 tons worth of $360.5 million, up by 9.63 per cent in quantity and 20.46 per cent in value year – on – year.

In the first nine months of this year, Vietnam’s exports of coffee to Indonesia increased sharply by over 10 times or 973.06 per cent in quantity and 7.6 times or 671.97 per cent in value to 60,200 tons worth of $118.7 million; petroleum – up by 5.1 times or 419.18 per cent in quantity and 5.9 times or 488.48 per cent in value to 1,500 tons worth of $913,800; while the exports of coal and ceramic and porcelain products increased by 127.95 per cent and 124.38 per cent, respectively year – on – year.

Vietnam also imported $3.3 billion worth of goods from Indonesia in the first nine months, up by 29.1 per cent over the same period last year.
Coal, chemicals, paper of all kinds, iron and steel, and metals were the leading items imported by the country from Indonesia.

So in the first nine months of this year, Vietnam got $713.4 million of deficit in trade exchange with Indonesia.
By September 20, 2018, Indonesia ranked 28 in the list of 129 countries and territories that invest in Vietnam with 72 projects and the total registered capital of $583.28 million.
CK
Source: VITIC