In Q1, Viet Nam shipped US$4.01 billion of goods to other ASEAN member states, representing a year-on-year decline of 13.4%, and accounting for 10.3% of national export turnover. Meanwhile, Viet Nam imported US$5.73 billion of goods from other ASEAN nations, posting a year-on-year growth of 6.3%, and presenting 15.3% of national import revenue.
Thus, Viet Nam ran a trade deficit of US$1.72 billion with ASEAN member states in the first three months of 2016. Accordingly, Viet Nam suffered the largest trade gap with Singapore with US$1.26 billion; followed by Thailand with US$843 billion. Meanwhile, Viet Nam enjoyed the largest trade surplus with the Philippines with US$331 million; followed by Cambodia with US$200 million.
In January-March, Viet Nam’s rice export valued US$262 million, up 72.5% against the same period last year, including US$139 million from Indonesia; US$81 million from the Philippines; and US$27.9 million from Malaysia. Overseas shipment of aquatic products was US$122 million, up 16.8% against the same period last year, mainly coming from Thailand.
Viet Nam’s major exports to ASEAN included telephones and spare parts with US$594 million (down 17% against the same period last year); steel with US$218 million (down 38.7%). Viet Nam chiefly imported US$788 million worth of computers, electronic products (down 24.6%); US$635 million of petrol (down 16.6%); and furniture with US$137 million (down 41.8%).
