Imports from China shoot up in H1

26-Jul-2019 Intellasia | The Saigon Times | 6:02 AM Print This Post

Vietnam imported 24 groups of commodities during the first half of the year and the import bill of three of the groups that came from China was $10 billion each.

During the period, Vietnam spent over $23 billion importing computers, electronic products, and their parts, an increase of about 18 percent year-on-year. In this group, the total imports from China reached $5.8 billion, up nearly 70 percent against last year period, Thanh Nien newspaper reported.

The imports of machinery, equipment, tools, and machine parts were the next highest, at $17 billion, a 13 percent increase over the year-ago period. These items were mainly imported from China, with imported turnover reaching $6.75 billion, up 26 percent versus the 2018 figure.

Meanwhile, garment and footwear materials imports from China edged up nearly 11 percent, accounting for over $5 billion of the country’s total imports of $12 billion in this group. Vietnam also spent $1.2 billion to $1.6 billion goods from South Korea, the US, and Taiwan over the first six months of the year.

Data released by the general Department of Vietnam Customs shows that Vietnam imported goods worth almost $121 billion in the first half, an increase of 9 percent year-on-year.

Imports from China, South Korea, and Japan accounted for over 55 percent of the total figure. In particular, imports from China made up 30 percent of the total imports, reaching as high as $35 billion, followed by South Korea with $22 billion, and Japan with $8 billion.


Category: Economy, Vietnam

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