VietNamNet Bridge – In the first quarter of 2016, when Big C was not sold to Thailand yet, the trade deficit between Vietnam and Thailand was already nearly $1 billion.

This was the highest trade deficit between Vietnam and an ASEAN member, accounting for 71.1% of Vietnam's total trade deficit with ASEAN countries, according to the General Department of Customs.

The data from the customs agency showed that in the first quarter this year Vietnam’s total trade deficit with ASEAN was nearly 1.4 billion, with the highest deficit rates in the trade with Thailand and Singapore, with $982 million and $806 million, respectively.

According to the General Department of Customs, the total import and export value of Vietnam with ASEAN in this period reached $9.4 billion, down 9.3% from the same period last year, while exports of Vietnam to the ASEAN market was estimated at $4.01 billion, accounting for 10.3% of total national exports. Imports from ASEAN countries reached $5.39 billion, making up 14.4% of total imports of the country.

Among the main export goods of Vietnam, phones and phone accessories accounted for 14.8%, followed by machinery and computer products with 8.6%.

The imported goods from ASEAN countries were mainly computers, electronic products and components reached ($788 million), petroleum ($635 million), wood and wood products ($137 million).

Notably, three big wholesalers and retailers in Vietnam have been acquired by Thai groups, including the Metro wholesale supermarket chain, Nguyen Kim electronics, a household goods supermarket chain, and most recently Big C food and consumer goods supermarket chain.

Experts said that these merger and acquisition deals will open the door for Thai goods to Vietnam, which will increase the trade deficit between Vietnam and Thailand.

Nam Nguyen