Vietnam and Malaysia record a two-way trade value of over 3.97 billion USD in the first five months of 2017 (Photo: VNA)

Kuala Lumpur (VNA) – Vietnam and Malaysia recorded a two-way trade value of over 3.97 billion USD in the first five months of 2017, an increase of 27.9 percent year-on-year, according to the Vietnamese Trade Office in Malaysia.

Of the sum, Vietnam’s exports hit 1.73 billion USD, up 57.2 percent while its imports were worth 2.23 billion USD, rising 11.8 percent.

Malaysia is the eighth largest trade partner of Vietnam, accounting for 2.4 percent of the market share, after China, the Republic of Korea, the US, the European Union, Japan, Taiwan (China) and Thailand.

Bilateral trade turnover is projected at about 9.5 billion USD this year.

The Malaysian Department of Statistics said the country’s gross domestic product (GDP) was at 5.6 percent in the first quarter, the highest growth recorded in recent two years.

Malaysia’s economy is expected to continue recovering in the next six months and its GDP in 2017 will grow at 4.5 - 4.8 percent.-VNA