In September 2019, trade turnover between Vietnam and Malaysia reached US $ 875.03 million, an increase of 1.4% over the same period in 2018.

Statistics from the Statistics Office of Malaysia show that: in the first 8 months of 2019, Malaysia's imports from Vietnam reached RM 13.22 billion (equivalent to US $ 3.22 billion, the provisional exchange rate of US $ 1). = 4.2 RM) while Malaysia exported goods to Vietnam worth 22.97 billion RM or 5.47 billion USD. Thus, in the first 8 months of 2019, bilateral trade between Vietnam and Malaysia reached US $ 8.69 billion.

According to data of the General Department of Vietnam Customs, Vietnam-Malaysia trade turnover in September and the first 9 months of 2019 are as follows:

In September 2019, trade turnover between Vietnam and Malaysia reached US $ 875.03 million, an increase of 1.4% over the same period in 2018.

Total bilateral turnover in the first 9 months of 2019 reached US $ 8.333.47 million, down 3.7% over the same period (US $ 8,654.72 million), of which export turnover reached US $ 2,925.08 million, down 5.5 % (3,094.16 million USD) and import turnover reached 5,408.39 million USD, down 2.7% (5,560.56 million USD) compared to the same period in 2018.

Total bilateral trade turnover in the first 9 months of the year did not have a good growth rate, or even decreased due to the following reasons:

Regarding imports, this year, petroleum products imported from Malaysia plummeted because major domestic refineries such as Nghi Son oil refinery have been put into operation stably to increase the supply to the market. Import demand for petroleum has decreased significantly (up to over 30%).

This is a commodity that accounts for a large import turnover in Vietnam's import structure from Malaysia, so the decline in import demand of this item has a great influence on import turnover. However, due to a number of other items that have increased import demand such as household electrical goods and components, computers and components, the metal growth has partly offset the decline in import turnover. Import of petroleum led to a decrease of only 2.7% in import value over the same period in 2018.

Regarding exports, in the structure of Vietnam's exports to Malaysia, the main products are still mobile phones and components, computers and components, which account for the majority of export sales and are attributed to the bloc. FDI undertakes.

When the import demand of Malaysia is reduced, especially and the impact of the US-China trade war will immediately affect consumption demand and this will greatly affect Vietnam's strong export turnover. The key export products such as computers, electronic products and components dropped by 34.4%, phones of all kinds and components fell by 28.4%,

Glass and glass products (mostly in the supply chain for manufacturing solar panels) decreased by 25.1% ... greatly affected export revenue. The strength of Vietnam's commodities such as rice also saw a significant decrease (14.2%) due to low reserves of Malaysia as well as competition from supply from Thailand, India, Cambodia ...

In September 2019, Vietnam imported goods from Malaysia with a turnover of US $ 555.05 million, down 17.5% over the previous month, bringing the import turnover of the first 9 months of 2019 to US $ 5,408.39 million decreased. 2.7% over the same period.

For some key import items, in the first 9 months of 2019, import turnover decreased such as: Petrol and oil down 30.39%; Plant and animal fats and oils decreased by 1.75%; Machinery, equipment and spare parts decreased by 3.0%; However, many imported goods also increased, such as: Electrical appliances and components increased by 34%; Computers, electronic products and components increased by 16.8%; Metals usually increased by 19.1% ;.

In September 2019, Vietnam's export turnover to Malaysia reached US $ 319.98 million, down slightly from the previous month, bringing the total export turnover in the first 9 months of 2019 to US $ 2,925.08 million, down 5.5% over the same period. last year.

In the first 9 months of 2019, exports of many key commodities decreased sharply such as: Phones of all types decreased by 28.4%; Computers, electronic products and components decreased by 34.4%; Glass and glass products down 25.1%; Rice decreased by 14.2%. However, there are also items with good growth rates such as: Machinery, equipment and spare parts with an increase of 43.6%; Means of transport and spare parts increased by 17.5%; Iron and steel of all kinds increased by 6.4%; Aquatic products increased by 5.7%.

The main export items such as phones, computers and components are those with large turnover and mostly made by FDI enterprises, so in the influence of the US-China war, consumer demand reduced Malaysia consumption will greatly affect Vietnam's export turnover.

Source: cungcau.vn