Exports to Southeast Asia forecast to keep upward trend
Vietnam’s exports to many Southeast Asian countries like Malaysia, Singapore, Thailand, the Philippines, and Cambodia have grown strongly recently and are predicted to continue the upward trend in 2018.
Hanoi (VNA) – Vietnam’s exports tomany Southeast Asian countries like Malaysia, Singapore, Thailand, thePhilippines, and Cambodia have grown strongly recently and are predicted tocontinue the upward trend in 2018.
According to the Ministry of Industry and Trade(MoIT)’s Department of Asian-African Markets, Vietnam shipped 1.2 billion USDworth of telephones and components, 427 million USD worth of crude oil, and 91million USD worth of fibres to Thailand in 2017. The figures showed respectiveincreases by 69 percent, 170 percent, and 31 percent.
The MoIT said many goods which are Vietnam’sstrength still account for a modest market share in Thailand, noting that thereare high possibilities to increase market share in Thailand for such commoditiesas aquatic products, fresh fruit, steel products, electrical wire and cable,and ceramic and wooden items.
There are also opportunities for Vietnam to sellmore apparel and footwear to Thailand, which is switching its production toother fields with higher added value. Meanwhile, milk and dairy products,handicrafts, and furniture also hold potential for stronger export if obstaclesare removed and businesses are assisted, the ministry noted.
The Asian-African Market Department said theshipment of many goods to Malaysia also posted high growth rates. Last year,Vietnam earned around 1.17 billion USD from exporting computers, electronicproducts and components (up 36 percent from 2016), 609 million USD from mobilephones and components (up 37 percent), 228 million USD from crude oil (up 20percent), and 235 million USD from steel (up 105 percent) to Malaysia.
Singapore was also a strong consumer ofcomputers and components, transport vehicles and spare parts, crude oil, andgasoline from Vietnam last year, the department added.-VNA
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Illustrative photo (Source: VNA) 
