Trade performance between Vietnam and Malaysia in 2013 and updates for the first month of 2014

Bilateral relationship between Vietnam and Malaysia has been established for 40 years in 2013.It was also memorized as the year of outstanding trade relationship of these two countries. 

According to the preliminary statistics disseminated recently by Vietnam Customs, total of Vietnam’s merchandise trade with Malaysia in 2013 reached USD 9.03 billion, up by 14.1% as compared to one year ago. In which, outbound trade was USD 4.9 billion, 9.5% higher than the performance of  2012 and inbound trade was USD 4.1 billion, rose by 20.3% in comparison to the USD 3.4 billion of 2012.

Trade balance of Vietnam in bilateral trade with Malaysia reached USD 821.6 million of surplus in 2013, went down by 24% (equivalent to USD 266.7 million in absolute terms) as compared to 2012, showed by recent Vietnam Customs Statistics. It is also recorded that since 2012 Vietnam has been in trade gap for the second time after being in trade deficit in years.

In recent years, Malaysia was one of the most important trade partners of Vietnam in Asia. It was proved by the first place among all the biggest exporters of Vietnam in ASEAN and the third place among all the importers.

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Total export value of top 7 biggest commodities from Vietnam to Malaysia was USD 3.8 billion, accounted for 93% of Vietnam’s total exports to Malaysian market. Thereof 7commodities included: computer electrical products, spare-parts and components thereof; crude oil; telephone, mobile phones and parts thereof; rubber, rice, iron and steel and glass and glass ware. The leader was computer electrical products, spare-parts and components thereof with the total imports of USD 1.2 billion, strong climbed up by 38.3% (equivalent to USD 327.3 million in absolute terms) as compared to 2012.
In the view of import, the highest import value from Malaysia to Vietnam belong to computer,electrical products, spare-parts and components thereof with the total of USD 943 million. Besides, Vietnam  was also the main import market of some commodities from Malaysia such as: animal, vegetable fats and oils (reached USD 461.1 million, down by 9.3% in comparison to 2012), machine ,equipments ,tools and instruments (reached USD 294.5 million, strongly up by 29.2% in comparison to 2012); plastics; chemical and chemical products…
Table: Main exported commodities from Vietnam to Malaysia in 2011, 2012 and 2013
Main commodities/Year 2011 2012 2013
Computer, electrical products and parts thereof 91 855 1,182
Crude oil 951 1,008 916
Telephone, mobile phone and parts thereof 159 384 655
Rubber 229 564 518
Rice 292 403 231
Iron an steel 149 157 198
Glass and glassware 37 79 101
Machine, equipment, tools and instrument 77 78 95
Other products 846 969 1,029
Total 2,832 4,496 4,925
                                                                                                                Source: Vietnam Customs
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Trade statistics of Vietnam Customs also noted that in the first month of 2014, total export value from Vietnam to Malaysia reached USD 332.3 million rose by 9.5% in comparison to the same period of 2012. In the meanwhile, that of import totaled USD 305.8 million, strongly up by 20.3%.