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Home News VN gains first trade surplus with Myanmar

VN gains first trade surplus with Myanmar

alt Viet Nam gained a low trade surplus of US$8 million with Myanmar for the first time. This represented a remarkable progress of Viet Nam after years of trade deficit with Myanmar.

In January, the total export turnover of Viet Nam to Myanmar increased slightly by 1.8% against December 2012, standing at US$13.7 million. Import turnover was US$3.6 million, posting a sharp drop of 45.6% against last December due to the falling import of furniture.
Viet Nam chiefly ships steel, equipment, garments and textiles, and plastic products to Myanmar.

Last year, Viet Nam acquired an export turnover of US$227 with Myanmar, up 35.9% against 2011 and seven-fold against 2003.

Myanmar ranked 55th among 230 export markets of Viet Nam, with US$117.8 million export turnover, which surged sharply by 42.9% against 2011.

In ASEAN, Viet Nam’s shipment to Myanmar only accounted for 0.7% of the former’s total export turnover to the bloc.

In 2003-2012, Viet Nam’s trade volume with Myanmar expanded by 24.8% yearly in which export increased by 28.3% and import 22%./.

By Khanh Phuong (VGP News)

 

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