In the first eight months of 2018, Vietnam’s exports had a trade surplus of billions of dollars to Cambodia. This is noteworthy information on trading activities with ASEAN members, because Vietnam has a trade deficit of billions of dollars with big partners such as Thailand, Malaysia, Singapore and Indonesia.
The latest information from the General Department of Customs shows that in August, Vietnam exported to Cambodia US$ 2.422 billion, a sharp increase of 37.1% over the same period last year.
Meanwhile, import turnover from this neighboring country was only US$ 661.5 million, down nearly US$ 132 million over the same period in 2017.
By the end of August 2018, Vietnam exported US$ 4.662 billion to these two big markets while importing US$ 1.483 billion. Thus, Vietnam achieved a trade surplus of nearly US$ 3.2 billion.
Our export goods to Cambodia are quite diversified from agricultural products, construction materials, textiles and garments to electronic products.
By the end of August, four commodity groups exported to Cambodia reached a turnover of US$ 100 million. The largest was iron and steel with a turnover of US$ 555.4 million; followed by gasoline of US$ 324.6 million; textiles of nearly US$ 310 million; textile and garment accessories and footwear of nearly US$ 153.5 million.
The quantity of goods imported from Cambodia is quite modest. Some main goods recognized by the General Department of Customs are; cashew nuts, rubber, wood and wooden products and steel straps.
In the large groups imported from Cambodia, by the end of August, only cashew nut reached a turnover of “hundred million dollars” with a result of US$ 229.6 million.
Cashew nut is also the only key commodity that grew over the same period last year. Meanwhile, wood, wooden products and rubber fell sharply.
For the Philippines market, by the end of August, the export turnover reached US$ 2.24 billion, up 21% over the same period last year.
Goods exported to this market are various. The latest data from the General Department of Customs realized 7 groups with a turnover of US$ 100 million or more. Of which, the largest is rice with an export turnover of US$ 280 million.
Other key commodities are telephones with a turnover of US$ 276 million; machinery and equipment with a turnover of US$ 226.4 million; and Clinker and cement with a turnover of US$ 190 million …
Import turnover from the Philippines in the 8 months reached US$ 822 million, up 10.5% over the same period in 2017.
Imported goods from the Philippines are relatively diverse, but the turnover only stops at the tens of millions of dollars.
The largest group is computers, electronic products and components with a turnover of US$ 431 million, accounting for 52.4% of total imports from the Philippines in the first eight months of this year.