Vietnam’s trade with other member states of the Association of Southeast Asian Nations (ASEAN) witnessed a year-on-year (YoY) rise of 35 per cent in January, reaching $6.81 billion, according to data from the general department of customs.

It saw a trade deficit of $430 million with other ASEAN members during the month.

The country’s exports to the bloc hit $3.19 billion during the month—up by 45 per cent YoY, and comprising 9.2 per cent of the nation's total export value.

Thailand was the biggest importer of Vietnam's commodities within the bloc, with imports worth $734 million—up by 31.6 per cent YoY, according to a report in a Vietnamese media outlet.

It was followed by Indonesia, with imports worth $562 million—up by 59 per cent YoY; the Philippines ($498 million)—up by 71 per cent YoY; Cambodia ($448 million)—up by 17 per cent YoY; Malaysia ($464 million)—up by 73 per cent; and Singapore ($397 million)—up by 36 per cent YoY.

Vietnam's exports to Laos worth $56 million in January saw a YoY growth of 104 per cent.

The nation, meanwhile, spent $3.62 billion in imports from the bloc during the month—up by 28 per cent YoY and making up 11.7 per cent of the country's total import value.

Fibre2Fashion News Desk (DS)

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