Saturday, October 19,2019 - 14:51 GMT+7  Việt Nam EngLish 

Imports of auto parts increased in first seven months 

 Monday, September 16,2019

AsemconnectVietnam - In the first 7 months of 2019, Vietnam’s imports of auto spare parts reached 2.3 billion USD – up by 15.3 per cent compared to the same period of 2018.

In July alone, the import value of this commodity group also reached 444.59 million USD, up by 52.5 per cent compared to June of 2019.
South Korea, Japan and China were the leading import markets of auto parts in July of 2019, with 134.18 million USD; 78.28 million USD and 66.2 million USD, increased compared to June of 2019. The figure brought the country’s imports of car parts from those 3 markets in the first 7 months of 2019 to 688.35 million USD, 431.89 million USD and 412.64 million USD, respectively. Compared to the same period in 2018, the imports of car parts from the Japanese market decreased by 6.86 per cent, but the imports from Korea increased sharply by 57.58 per cent.

Notably, in July of 2019, Vietnam increased its import of auto spare parts from Turkey market, up by 4.5 times (an increase of 351.7 per cent), but only reached 1.61 million USD. In addition, Vietnam also increased imports from India with an increase of 3.6 times (an increase of 257.91 per cent) compared to June of 2019 and an increase of 2.7 times (an increase of 172.48 per cent) compared to with July of 2018, reaching 25 million USD. The figure brought the total imports of auto parts from India in the first 7 months of 2019 to 104.8 million USD, up by 33.01 per cent over the same period last year. In addition, Vietnam also increased imports from the Italian market, increasing by 2.9 times (an increase of 188.75 per cent) compared to June of 2019 and up by 49.5 per cent compared to July of 2018 to 367,100 USD, raising the total import value in 7 months of 2019 to 2.1 million USD, up by 55.14 per cent over the same period of 2018 - this is also the market with a sharp increase only behind Korea.

In July of 2019, Vietnam’s imports of auto part from German market fell by 30.08 per cent and from Russia – down by 29.62 per cent.
Notably, in the first 7 months of this year, Vietnam also imported auto parts from Belarus market with the import value of 270,200 USD.
Vietnam’s imports of auto parts in the first 7 months of 2019 – source: the General Department of Customs
Market
July of 2019 (USD)
+/- vs. June of 2019 (%)
First 7 months of 2019 (USD)
+/- vs. same period of 2018
South Korea
134,182,770
81.11
688,359,347
57.58
Japan
78,286,122
52.44
431,897,854
-6.86
China
66,281,737
28.52
412,649,121
15.7
Thailand
55,136,390
5.03
356,118,748
0.79
Indonesia
24,115,726
46.25
127,837,026
11.24
India
25,023,889
257.91
104,895,078
33.01
Germany
9,283,647
-30.08
95,183,367
-2.68
The Netherlands
5,291,883
9.32
30,304,158
-22.95
Malaysia
2,569,688
-5.5
19,273,729
2.86
The Philippines
2,118,934
14.78
12,189,105
4.28
The U.S
2,047,755
82.47
10,814,738
93.9
Brazil
1,328,572
31.2
4,897,436
40.61
Spain
837,996
49.41
4,142,691
-9.22
Italy
367,179
188.75
2,101,555
55.14
Russia
41,519
-29.62
1,858,130
16.5
 CK
Source: VITIC

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