In the first four months of this year, Vietnam’s exports to the Association of Southeast Asian Nations (ASEAN) were $10.85 billion, or 10% of all exports from the nation. The statistic represented a decrease of 4.7% year over year, which was modest given the country’s overall export revenue decline of 13% over the same time period. ASEAN members make up six of the 24 export markets with a turnover of over $1 billion.
The country’s total imports during the period totaled $13.360 billion, or 13.4% of all imports, but were down 17.6% year over year. As a result, there was a trade deficit of $2.51 billion, which was down 48% from the same period the previous year.
Thailand was Vietnam’s largest market among ASEAN member countries, with two-way trade reaching $6.25 billion, a news agency reported. It was followed by the Philippines with $1.73 billion—up by 7 per cent year on year, and Indonesia, Cambodia and Malaysia.
