Keyword: "trade deficit"

Cashew nuts are one of the exports which have created a large market for Vietnam, however, the industry faces the risk of trade deficit due to higher raw material prices.

Vietnam’s imports of computers, electronics and components in 2024 surpassed the 100 billion USD mark for the first time in history and were the highest level since 2013, according to statistics from the General Department of Vietnam Customs.

Thailand’s exports are on track to achieve a historical high of 300 billion USD this year, up 5.2% year-on-year, according to the Ministry of Commerce.

The import-export turnover between Vietnam and China reached nearly 130.8 billion USD in the first eight months of this year, according to the latest statistics from the General Department of Customs.

The Bank of Thailand recently backed government initiatives to address the issue of cheap Chinese products flooding the Thai market.

Vietnam ran a trade deficit in May as the import of major materials rebounded, signaling that green shoots are sprouting in domestic production, experts have said.

India's trade deficit with the Association of Southeast Asian Nations (ASEAN) has more than doubled since the implementation of the ASEAN-India Trade in Goods Agreement (AITIGA) in 2010.

Vietnam’s total export-import turnover hit 178.04 billion USD in the first quarter of this year, up 15.5% annually, resulting in a trade surplus of 8.08 billion USD, reported the General Statistics Office (GSO) on March 29.

Thailand’s authorities said for the fifth consecutive year, Thailand recorded a trade deficit with China in 2023, the highest yet at 36 billion USD, up from 29 billion USD in 2022.

Thailand’s export rose for a fourth consecutive month in November on the back of a consistent recovery in key trading partner markets, according to the Commerce Ministry.

Vietnam enjoyed a trade surplus of 24.44 billion USD as of November 15 this year, according to data released by the General Statistics Office (GSO).

The Thai National Shippers' Council (TNSC) on September 5 downgraded its export forecast for this year to a contraction of 1% from its previous forecast, which ranged from a contraction of 0.5% to a 1% increase, citing weak global demand.

Thailand's exports declined for the 10th consecutive month in July, falling at a higher rate than expected due to sluggish global demand and a drop in global commodity prices.

Vietnam’s agro-forestry-aquatic product exports raked in 24.59 billion USD in the first six months of 2023, down 11.1% year on year while the country's imports reached 19.96 billion USD, resulting in a trade surplus of 4.63 billion USD, according to the Ministry of Agriculture and Rural Development (MARD).

Despite an overall export decline due to the shortage of orders, foreign direct invested (FDI) businesses still posted more than 14 billion USD in trade surplus in the first four months, further affirming their role as the main growth driver of the economy.

Despite decreases in both imports and exports, the country still enjoyed a trade surplus of 3.6 billion USD in the first month of 2023, according to the General Statistics Office (GSO).

The Indonesian Energy and Mineral Resources Ministry has decided to extend its contract to supply gas to Singapore for five years from the initial expiry date of 2023.

Thailand’s Minister of Commerce Jurin Laksanawisit has expressed confidence that the country’s exports could expand by up to 8% this year after robust growth in the first nine months.

Vietnam estimates a trade surplus of 6.52 billion USD in the first nine months of this year.

Vietnam’s economic recovery will be stronger in the second half of 2022, particularly as the country resumed its tourism activities after a two-year closure, according to Standard Chartered’s latest Vietnam report.