AsemconnectVietnam - According to statistics from the General Department of Customs, in the first 10 months of 2024, Vietnam's exports to the Thai market reached more than 6.5 billion USD.

Meanwhile, Vietnam's goods exports to the Indonesian market in the first 10 months of the year reached 5.1 billion USD and exports to the Malaysian market reached over 4.2 billion USD.
Vietnam's exports of goods to the Thai market in October and 10 months of 2024
According to statistics from the General Department of Customs, Vietnam's goods export turnover to the Thai market in October of 2024 reached 635.2 million USD, up by 0.8% over the previous month, and in the first 10 months of 2024, it reached 6.5 billion USD, up by 8.1% over the same period last year.
Thailand is currently Vietnam's largest export market in ASEAN, accounting for more than 20% of Vietnam's total export turnover to the bloc.
Vietnam exported 36 main items to Thailand in the first 10 months of 2024, of which 15 export items reached a value of 100 million USD or more. The item with the largest turnover belongs to the group of machinery, equipment, tools, and other spare parts, reaching 860.9 million USD, up by 1.6%, accounting for 13.2% of the proportion. It was followed by the group of phones and components reaching 707.7 million USD, down by 12.4% over the same period last year, accounting for 10.8% of the proportion; and then the group of computers, electronic products and components reaching 650.3 million USD, up by 29.3%, accounting for 10% of the export proportion.
Some export commodity groups to Thailand increased in the first 10 months of 2024 compared to the same period last year, including chemical products increased by 211.5%; plastic products increased by 133.1%; vegetables and fruits increased by 70.4%; coffee increased by 60.5%; glass and glass products increased by 61.1%; petroleum increased by 75%; ores and minerals increased by 200%.
Vietnam's exports of goods to the Indonesian market in October and the first 10 months of 2024
According to statistics from the General Department of Customs, Vietnam's goods exports to the Indonesian market in October of 2024 reached 527.6 million USD, up by 6.8% over the previous month. In the first 10 months of 2024, it was 5.1 billion USD, up by 22.5% over the same period last year. Indonesia has become a key and extremely potential market in Asia in particular and the world in general. The consumption of goods and products by Indonesian people is very large, especially Halal products - a market with many opportunities to increase export turnover.
The items that Vietnam exports to Indonesia were rice, seafood, coffee, chemical products, raw plastics, footwear of all kinds, textile raw materials, leather shoes, iron and steel of all kinds, etc. The group of computers, electronic products and components was the leading group of goods in terms of export turnover to the Indonesian market. Vietnamese goods are also gradually asserting their position in the Indonesian market with export turnover increasing over time.
In the first 10 months of 2024, rice led the export turnover to the Indonesian market, reaching 655.2 million USD, up by 20.2% over the same period last year, accounting for 12.6% of the export proportion. The next was machinery, equipment, tools and spare parts, reaching 401.1 million USD, up by 29.2%, accounting for 7.7% of the export proportion.
In the first 10 months of 2024, some items had export turnover growth compared to the same period last year, such as coffee increased by 83.8%; chemicals increased by 181.9%; rubber increased by 72%; tea increased by 60.2%; coal increased by 640.9%.
The two-way trade between Vietnam and Indonesia in 2023 reached 13.8 billion USD, down by 2.5% compared to 2022. Of which, the imports from Indonesia reached 8.73 billion USD, and the exports to this market reached 5.07 billion USD. Thus, the trade deficit with Indonesia in 2023 reached 3.66 billion USD, down by 28.3% year –on- year.
Vietnam's exports to the Malaysian market in October and the first 10 months of 2024
According to statistics from the General Department of Customs, Vietnam's goods exported to Malaysia in the first 10 months of 2024 reached more than 4.2 billion USD, an increase of 4.5% compared to the first 10 months of 2023.
The group of computers, electronic products and components ranked first in export turnover to Malaysia in the first 10 months of the year, reaching 521.2 million USD, accounting for 12.3% of the total export turnover of all kinds of goods to this market, down by 1.3% compared to the same period last year. The next was the group of iron and steel of all kinds reached 485.6 million USD, accounting for 11.4%, up by 3.1%.
Rice was the most notable commodity group in the first 10 months of this year, with a very strong increase of 117.2% over the same period last year, reaching 399.8 million USD, accounting for 9.4%.
Some commodities with export turnover increasing compared to the same period last year, such as chemical exports increased by 179.1%; coffee increased by 119.2%; plastic products increased by 50.3%; rubber exports increased by 404.6%.
Despite recent challenges, the potential for trade development between Vietnam and Malaysia remains huge. Both countries can strengthen cooperation in the fields of investment, technology and trade, thereby expanding the trading space and maximizing the comparative advantages of each side. These efforts will not only help stabilize trade turnover but also create a solid foundation for a strategic partnership in the future.
CK
Source: VITIC