Thailand is Vietnam’s largest trading partner in ASEAN

Crude oil is one of Vietnam's major export products to Thailand. (Illustration)

According to statistics from the General Department of Vietnam Customs, two-way trade turnover between Vietnam and Thailand reached US$16.6 billion in the first 10 months of 2024, representing a year-on-year rise of 5.1%. Thailand continued to be Vietnam's largest trading partner in ASEAN, accounting for 24% of Vietnam's trade turnover with the region.

Notably, Vietnam's trade deficit with Thailand has improved. In the first 10 months of 2024, Vietnam exported goods worth US$6.5 billion to Thailand and imported US$10.1 billion, reducing the trade deficit by 4.8% compared to the same period in 2023.

In 2024, the Vietnam Trade Office in Thailand worked hard to facilitate trade exchanges between the two countries. It supported dozens of Vietnamese businesses in engaging in the THAIFEX - Anuga Asia 2024 food and beverage exhibition in June; co-organized "Vietnam Goods Week" in Udon Thani Province, Northeast Thailand, in November; and co-hosted a forum on advanced human resource development in logistics and supply chain management in October with Thai partners.

To further support bilateral trade exchanges, the Vietnam Trade Office in Thailand says it will focus on establishing information-sharing channels between the two countries regarding trade defense policies and measures; and increasing engagements at various levels to promptly address challenges and provide consulting support for businesses navigating new market conditions.

It will strengthen economic cooperation between Vietnam’s central provinces and northeastern Thailand, which has a large Vietnamese expatriate community, and spur business connectivity in emerging fields such as green economy, digital economy, circular economy, and renewable energy.