AsemconnectVietnam - Vietnam’s imports of goods in the first 10 months of 2019 increased by 7.8 per cent compared to the same period last year year to about 210 billion USD, mainly from China.

According to the General Statistics Office, the value of imported goods in September of 2019 reached 21,749 million USD, 751 million USD lower than the estimated number, of which electronics, computers and components were less than 375 million USD; machinery, equipment, tools and spare parts - less than 149 million USD; gasoline was less than 75 million USD; animal food and raw materials – less than 58 million USD; plastics - less than 49 million USD; phones and components – less than 42 million USD.

The import value in October of 2019 were estimated at 22.50 billion USD, up by 3.5 per cent over the previous month, of which the import value of the domestic economic sector reached 9.25 billion USD, up by 5.8 per cent; while the import value of the FDI sector reached 13.25 billion USD, up by 1.9 per cent. Compared to the same period of 2018, the import value of goods in October increased by 3.5 per cent, of which the import value of the domestic economic sector increased by 8.6 per cent; and the import value of the FDI sector increased by 0.2 per cent.
Generally, in the first 10 months of 2019, the country’s import value was estimated at 210 billion USD, up by 7.8 per cent over the same period of 2018, of which the import value of the domestic economic sector reached 87.9 billion USD, up by 13 per cent; while the import value of the FDI sector reached 122.1 billion USD, up by 4.4 per cent.

In the first 10 months, there were 32 items with the import value of over 1 billion USD, accounting for 88.6 per cent of total import turnover (2 items reached over 20 billion USD, accounting for 34.7 per cent), of which: electronics, computers and components reached 43 billion USD (accounting for 20.5 per cent of the total import value), up by 21.5 per cent over the same period last year; machinery, equipment and spare parts reached 30 billion USD, up by 11.4 per cent; phones and components reached 12.2 billion USD, down by 3.5 per cent; fabrics - reached 10.9 billion USD, up by 3.5 per cent; iron and steel reached 8.1 billion USD, down by 3.5 per cent; plastics - reached 7.5 billion USD, down by 0.4 per cent; automobiles reached 6.1 billion USD, up by 45.8 per cent; ordinary metal - 5.4 billion USD, down by 14 per cent; plastic products - reached 5.4 billion USD, up by 9.9 per cent.

Regarding the structure of imported goods in the first 10 months of 2019, the group of production materials was estimated at 191.3 billion USD, up by 7.2 per cent over the same period last year and accounting for 91.1 per cent of total import value; wile the imports of consumer goods group was estimated at 18.7 billion USD, up by 14.7 per cent and accounting for 8.9 per cent (up by 0.5 percentage points compared to the same period of 2018).

Regarding the markets of imported goods in 10 months, China remained the largest import market of Vietnam with the value of 62 billion USD, up by 16.1 per cent over the same period last year; followed by the Korean market with 39.4 billion USD, up by 0.6 per cent; ASEAN market reached 26.4 billion USD, up by 1 per cent; Japan reached 16 billion USD, up by 2.1 per cent; EU market reached 12.2 billion USD, up by 7.8 per cent; and the US reached 12 billion USD, up by 12.6 per cent.
The trade balance of goods in September 2019 had a trade surplus of 1.6 billion USD; the 9 – month - trade surplus reached 7.1 billion USD; the trade deficit reached 100 million USD in October. Generally, in the first 10 months of 2019, the country’s trade deficit was estimated at 7 billion USD, of which the domestic economic sector had trade deficit of 21.3 billion USD; and the FDI sector (including crude oil) saw a trade surplus of 28.3 billion USD.
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Source: VITIC