Vietnam-Malaysia trade revenues hit over US$671 million in January

Crude oil was among Vietnam's key export items to Malaysia in January 2015.

Two-way trade revenues between Vietnam and Malaysia were estimated at US$671.6 million in the first month of 2015, representing a year-on-year increase of 11.9%, according to information released by the Trade Mission at the Vietnamese Embassy in Malaysia.

Vietnam exported commodities worth US$318 million to Malaysia in January, down 0.3% against the same period last year, with crude oil named as the country’s major export item earning nearly US$64.5 million, followed by telephones and parts (US$58.4 million); computers and electronic products and components (US$32.8 million); rubber (US$18.5 million); and crystal and crystal products (US$16.8 million).

Meanwhile, Vietnam imported US$353.6 million worth of goods from Malaysia, up 25.9% over 2014, with key import items including computers and electronic products and components (US$84.5 million); machines and accessories (US$43.7 million); animal fats and plant oils (US$29.8 million); plastic materials (US$20.8 million); and household electrical appliances and parts (US$18.7 million).

In 2014, Vietnam enjoyed over US$8.1 billion in bilateral trade revenues with Malaysia – down 9.9% against 2013 – including over US$3.9 billion in the country’s export turnover and nearly US$4.2 billion in import revenues.

As of January 20, Malaysia was the eighth largest investor in Vietnam with 484 projects and roughly US$10.8 billion in registered capital, while Vietnam invested in nine projects worth US$812.6 million in Malaysia.

NDO