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Importing Machinery and Equipment
In the meantime, imports hit US$131.3 billion, a year-on-year increase of 15.4%, with the domestic sector accounting for US$56.8 billion, (up 5.6%) and the FDI sector, US$74.5 billion (up 24.2%).
GSO General Director Nguyen Bich Lam says there has been a change in the demand for imports as the country wants to process semi-products of low added value and then export them to other countries.
Products of high import value include machinery and equipment and tools estimated at US$18.6 billion, (up 16%), electronics, computers and components at US$17.7 billion (up 34.9%), cotton at US $8.4 billion (up 19.4%), phone handsets and components at US$8 billion (up 59.5%), plastics at US$5.7 billion (up 18.9%), garment and footwear materials at US $3.7 billion, (up 18.7%) and animal food and materials at US$3 billion (up 23.6%).
Vietnam’s largest import market is China accounting for US$36.8 billion (up 26.7%), followed by ASEAN, US$21.4 billion (up 2.8%), the Republic of Korea, US$20.8 billion (up 34.1%), Japan, US$11.6 billion (up 0.18%), the EU, US$9.2 billion (up 4.2%) and finally the US, US$5.1 billion (up 6.1%).
Most notably, of its total import value are input materials for production accounting for US$131.3 billion.
VOV