Vietnam’s exports to Thailand shoot up

Update: 14:47 | 24/05/2019
  Vietnam’s export earnings from Thailand, a competitive market in the region, has increased sharply in recent years, with an annual average turnover of 4-5 billion USD.
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The Ministry of Industry and Trade said that Vietnam exported 5.5 billion USD worth of products to the neighbouring country in 2018, a year-on-year surge of 14.79 percent.

vietnams exports to thailand shoot up
Vietnamese star apples boast huge potential to enter Thai market. (Photo: vnexpress.net)

Vietnam’s shipments to Thailand brought home 1.39 billion USD in the first quarter of 2019, up 5.9 percent from the same time last year.

According to Thailand’s Central Group, besides seafood, vegetables, cashew nuts, coffee and pepper, Vietnamese fresh fruits have gained a foothold in the Thai market. Particularly, avocados, sweet potatoes and star apples boast huge potential to enter the market.

Many Vietnamese industrial products like phones and spare parts, computers, electronic products and spare parts, and garments and textiles have been sold well in the country.

Experts said that as made-in-Vietnam products only account for a small proportion of Thai imports, local businesses should study the Thai market carefully, and suggested the Ministry of Industry and Trade to negotiate with Thai authorities on reducing or partly removing trade protective measures.

They recommended exporters to enhance cooperation with the Vietnamese people community in Thailand, many of whom are owning supermarkets and convenience stores in the country. The move will make Vietnamese products become more popular among Thai people.

In addition, Vietnamese products will have more chances to put up for sale in Thai supermarket chains as many Thai retailers are increasing their presence in Vietnam.

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(Source: VNA)