Thailand is Vietnam's largest export market in ASEAN with a value of USD 5.23 billion, an increase of 7.2% over the same period last year. In the first eight months of the year, Vietnam-ASEAN trade reached USD 54.9 billion, an increase of 12.5% ​​over the same period last year.

Vietnam has 6 export markets with billion-dollar turnover: Thailand, Indonesia, Philippines, Cambodia, Malaysia and Singapore.

Regarding exports, in the first 8 months of 2024, Vietnam earned USD 24.6 billion from exporting goods to ASEAN, an increase of 12.6% over the same period last year.

Thailand continued to be the largest export market with a value of USD 5.23 billion, an increase of 7.2% over the same period last year, followed by Indonesia with USD 4.15 billion and the Philippines with USD 4.07 billion, an increase of 23.6% and 17% respectively over the same period last year.

Also in the billion-dollar group, goods exported to Cambodia earned USD 3.52 billion, an increase of 3.9% over the same period last year; Malaysia reached USD 3.48 billion, an increase of 4.2% over the same period last year; Singapore with USD 3.46 billion, an increase of 26.3% over the same period last year.

Brunei saw a 569% increase in turnover compared to the same period last year, reaching USD 87.7 million. Vietnam also earned USD 429 million from exporting goods to Laos, an increase of 20.6% compared to the same period last year.

Regarding imports, Vietnam spent USD 30.2 billion importing goods from ASEAN in the first 8 months of 2024, an increase of 12.4% over the same period last year.

Thailand was the largest import market with USD 7.8 billion, a slight increase of 1.3% over the same period last year. The other two markets with import value of over USD 6 billion are Indonesia with USD 6.5 billion, an increase of 14.5% and Malaysia with USD 6.14 billion, an increase of 22.4% over the same period last year.

Singapore and Cambodia followed with turnover reaching USD 3.35 billion, a slight increase of 1.3% over the same period last year and USD 3.3 billion, an increase of 28.4% over the same period last year, respectively.

In the billion-dollar group, the Philippines is Vietnam's import market with the lowest value of USD 1.66 billion, an increase of 4% over the same period last year.

Kylie Nguyen