According to the Asia-Africa Market Department under the Ministry of Industry and Trade, Vietnam is running a US$5.9 billion trade deficit with the region, a year-on-year decrease of 9.5%, due to petroleum imports.Vietnam’s primary sources of imported products were Thailand, Indonesia, Singapore, and Malaysia. Imports from Thailand jumped 16.3% to an estimated value of US$10.3 billion, with trade dominated by products such as machines, equipment and tools (US$944 million), petroleum (US$910 million), fruit and vegetables (US$866 million), plastic materials (US$639 million), computers and components (US$621 million), and chemicals (US$372 million).Meanwhile, imports from Malaysia surged by 10% to US$5.7 billion with key products being petroleum (US$1.18 billion), computers and electronic products (US$1.10 billion), machines, and tools and equipment (US$643 million).Imports from Singapore are estimated at US$5.3 billion, up 11.5% on the previous year, with petroleum imports accounting for 42% at US$2.2 billion.Vietnam also bought more than US$1 billion worth of products from Cambodia, a year-on-year rise of 41.4%, with key products being wood and timber goods, cashew nuts, and rubber.
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