MRBELIEVER

ASEAN's Rising Star: Vietnam's export secures Second Place in the Region

Mr.Believer Mr.Believer posted on 10/03/2023

The total import-export turnover for goods is estimated to reach 732.5 billion USD for the entire year of 2022, representing a 9.5% increase compared to 2021 (statistics from the General Department of Vietnam Customs).

Among the ASEAN-6 countries, Singapore has the largest import-export turnover in 2022, reaching approximately 1,028 billion USD. The export turnover amounts to around 533 billion USD, while the import turnover stands at around 495 billion USD.

According to the Malaysian Customs Department, Malaysia's total import-export value reaches approximately 647.28 billion USD in 2022. The export turnover is around 353 billion USD, a 25% increase compared to the same period, and the import turnover is approximately 294.28 billion USD, a 31.3% increase compared to 2021. Consequently, Malaysia enjoys a trade surplus of 58.72 billion USD in 2022.

The Indonesian Customs Agency reports that Indonesia's total import-export value amounts to approximately 529.5 billion USD in 2022. The export turnover is approximately 291.98 billion USD, a 26.07% increase compared to the previous year, and the import turnover is around 237.52 billion USD, a 21.07% increase compared to 2021. Accordingly.

According to the Ministry of Commerce of Thailand, the value of Thailand's merchandise import-export reaches 590.26 billion USD in 2022. The export turnover amounts to 287.07 billion USD, a 5.5% increase compared to the same period, and the import turnover stands at 303.19 billion USD, a 13.6% increase compared to the same period last year. Consequently, Thailand has a trade deficit of 16.12 billion USD in 2022.

Regarding the import-export situation in the Philippines in 2022, according to the Philippine Statistics Authority, the value of merchandise import-export reaches approximately 215.9 billion USD. The export turnover amounts to around 78.84 billion USD, and the import turnover stands at approximately 137.16 billion USD. Consequently, the Philippines has a trade deficit of 58.42 billion USD in 2022.


 

Source: cafef