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Vietnam sees non-stop decade long trade deficit with ASEAN

By Ha Phuong   May 9, 2016 | 06:12 pm PT
From 2005, Vietnam has experienced a consistent trade deficit with ASEAN countries, according to General Department of Vietnam Customs. 

Distribution of trading goods 

2010 was considered to be the pivotal year for all ASEAN members as the new phase of integration was formed, towards the goal of establishing ASEAN Community (AC) in 2015 based on three pillars: ASEAN Politics and Security Community (APSC), ASEAN Economic Community (AEC), ASEAN Culture and Social Community (ACSC). 

Before 2010, Vietnam's main exports to ASEAN countries were rice and crude oil, accounting for approximately 50 percent of total export goods. From 2010, Vietnam has also been exporting new commodities such as: mobile phones, telephones and parts; electronic appliances, computers and parts and machines.

Vietnam imports mainly essentials and input ingredients.

As of Q1/2016, according to customs data, Thailand, Indonesia and Singapore remain the biggest intra-regional trading partners of Vietnam.

 
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