AsemconnectVietnam - According to the preliminary statistics figures from the General Department of Customs, the two-way trade between Vietnam and Malaysia in the first 3 months of 2024 reached over 3.65 billion USD, an increase of 20.1% over the same period of 2023.

Vietnam’s exports of goods to Malaysia in the first 3 months of 2024 reached more than 1.2 billion USD while Vietnam's imports of goods from Malaysia reached nearly 2.42 billion USD in the first 3 months of 2024, a slight increase of 32.8% compared to the first 3 months of 2023.
Vietnam's exports of goods to Malaysia in March and the first 3 months of 2024
The statistics figures from the General Department of Customs showed that, the export turnover of goods to the Malaysian market in March of 2024 reached 447.2 million USD, an increase of 36% compared to the previous month. In the first 3 months of the year, it reached over 1.23 billion USD, up by 1.1% over the same period last year.
Vietnam's main export products to the Malaysian market included machinery, equipment and spare parts; computer; electronics and components; steels; petroleum, and chemicals.
Leading the group of exported products in the first 3 months of 2024 was the group of products: iron and steel of all kinds reached 159 million USD, down by 8%, accounting for 12.8%; the group of all kinds of phones and components reaching 131.6 million USD, an increase of 46.7%, accounting for 10.6%; the group of computers, electronic products and components reaching 119.1 million, down by 26.7%, accounting for 9.6% of the total exports.
Some products had export growth in the first 3 months of 2024 compared to the same period last year: chemicals increased by 298.3%; rice increased by 60.6%; coffee increased by 88.3%; plastic products increased by 63.7%; plastic raw materials increased by 51.9%.
Vietnam's imports of goods from Malaysia in the first 3 months of 2024
Vietnam’s imports of goods from Malaysia reached nearly 2.42 billion USD in the first 3 months of 2024, a slight increase of 32.8% compared to the first 3 months of 2023. In March of 2024 alone, the country’s import turnover from Malaysia increased by 36.9% compared to February of 2024, reaching over 898.54 million USD and an increase of 59.1% compared to March of 2023.
Vietnam’s exports of goods to Malaysia reached over 1.23 billion USD in the first 3 months of 2024, an increase of 1.1% compared to the first 3 months of 2023. Thus, Vietnam has a trade deficit from Malaysia in the first 3 months of this year with over 1.18 billion USD, an increase of 97.3% compared to the first 3 months of 2023.
The two-way trade between Vietnam and Malaysia in 2023 reached over 12.67 billion USD, down by 13.7% compared to 2022. Of which, the imports from Malaysia reached 7.81 billion USD, and the exports to this market reached 4.86 billion USD. Thus, the trade deficit from Malaysia in 2023 reached nearly 2.95 billion USD, down by 17.2%.
In the first 3 months of 2024, the petroleum product group ranked first in import turnover from Malaysia reaching 722.14 million USD, accounting for 29.9% of the total import turnover of all types of goods from this market, a sharp increase of 122.8% compared to the first 3 months of 2023.
The group of computers, electronic products and components imported from Malaysia ranked second in turnover, reaching 490.39 million USD, accounting for 20.3% of the total turnover, an increase of 7.9%. The next was machinery, equipment, tools, and spare parts group with 145.51 million USD, accounting for 6% of the total turnover, an increase of 12.4%; and chemicals with 133.47 million USD, accounting for 5.5%, down by 1.2%
CK
Source: VITIC