According to statistics from the International Trade Centre (ITC), in the first six months of 2024, Vietnam ranked as the 8th largest supplier of goods to Thailand, accounting for 2.94% of Thailand’s total import value, up from 2.7% in the same period in 2023. Leading this list were markets such as China, Japan, Taiwan (China), the U.S., UAE, and others.

Based on statistics from the General Department of Vietnam Customs, in August 2024, Vietnam's exports to the Thai market reached 623.08 million USD, down 10.58% compared to the previous month and 4.23% compared to the same month last year.

Total export value in the first eight months of this year amounted to 5.23 billion USD, an increase of 7.29% compared to the same period last year.

The decline in August can be attributed to several factors, including fluctuating demand from the Thai market, changes in supply chains, or seasonal factors. Specifically, shifts in Thailand's consumption demand may have impacted the volume of goods imported from Vietnam.

However, the cumulative increase over the first eight months indicates that Vietnam's exports to Thailand have maintained a positive growth trajectory.

Topping the list of the most exported goods to Thailand in the first eight months of 2024 were machinery, equipment, tools, and spare parts. The export value of this category in August reached 100.41 million USD, up 1.62% compared to the previous month and 11.32% compared to the same month last year.

The total export value of this item in the first eight months amounted to 666.71 million USD, accounting for 12.73% of Vietnam's total export value to Thailand.

On the other hand, phones and phone components experienced a significant decline during the same period. In August 2024, the export value of this item was only 40.3 million USD, down 40.71% from the previous month and 49.43% compared to the same month last year.

The total export value of phones and components in the first eight months reached 608.06 million USD, down 13.66% from the same period last year, accounting for 11.61% of Vietnam's total export value to Thailand.

Import value of several goods from Thailand to Vietnam in August 2024. General Department of Vietnam Customs.

In contrast, the import of goods from Thailand to Vietnam in August 2024 saw notable developments. Specifically, import value from Thailand this month reached 1.09 billion USD, down 7.24% compared to the previous month but up 13.62% compared to the same period last year.

In the first eight months of 2024, Vietnam's total import value from Thailand reached 7.8 billion USD, up 1.31% compared to the same period last year.

In the first eight months of 2024, computers, electronic products, and components were the largest import items from Thailand. In August 2024, the import value of this product group reached 102.12 million USD, down 6.55% from the previous month and 22.68% compared to the same month last year.

The cumulative total for the first eight months of 2024 showed the import value of computers, electronic products, and components from Thailand reached 799.46 million USD, a decline of 34.84% compared to the same period last year, despite accounting for 10.25% of Vietnam's total imports from Thailand during the first eight months of 2024.