Viet Nam-Malaysia trade up 21.15% in H1

Tuesday, Jul 17, 2018 17:41

Viet Nam ran a trade deficit of $1.83 billion with Malaysia in the first half of this year. — Photo

The value of two-way trade between Viet Nam and Malaysia in the January-June period this year expanded 21.15 per cent on a yearly basis to more than US$5.84 billion, according to statistics of the Vietnamese trade office in Malaysia.

Viet Nam’s imports from Malaysia were worth nearly $3.84 billion, up more than 42 per cent compared to the same period last year, while exports dropped 5.46 per cent to $2 billion.

As such, Viet Nam ran a trade deficit of $1.83 billion with Malaysia in the first half of this year.

It is noteworthy that Viet Nam is importing more materials, fuels and machinery for production from Malaysia, and buying less consumer goods.

Major imports include petrol and oil ($1.23 billion), computers, electronics goods and parts (more than $620 million), machinery, equipment and tools ($380 million), and metals ($172.5 million).

Five groups of products earned Viet Nam more than $100 million in revenue each, including phones and parts ($308.5 million), computers, electronics goods and parts ($300 million), steel products ($228 million) and rice ($138.2 million).

Some export lines saw strong growth in the period, such as rice (112.7 per cent), wood and wood products (109.41 per cent), steel products (106.29 per cent), glass and glass products (56.39 per cent) and coffee (37.67 per cent).

However, earnings of computers, electronics goods and parts dropped 56.33 per cent.

Regarding investment, from the start of this year to June 20, Malaysia had 13 new investment projects in Viet Nam worth a combined $59.83 million, while six valid projects added $12.09 million in total to their capital.

Malaysian investors also spent $105.95 million to buy stakes in Vietnamese companies. Malaysia ranked 11th among foreign investors in Viet Nam in the first half of the year with total investment of $177.88 million.

Malaysia’s accumulated investment in Viet Nam as of June 20, 2018, reached $12.4 billion in 577 projects, ranking eighth among 128 countries and territories investing in the country. — VNS

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