Jan-July auto, part imports put at $3.4b
Tuesday, August 4,2015AsemconnectVietnam - Imports of completely built-up (CBU) autos and auto parts have amounted to $3.4 billion in January-July, soaring 88 percent against the same period last year, according to the general Statistical Office (GSO).
The GSO’s data showed 65,000 cars worth $1.72 billion have been imported into Vietnam in the year to date, surging 107.7 percent in volume and 154.4 percent in value year-on-year.
CBU autos are among the imported products with strong revenue growth in the first seven months. Vietnam has mostly imported trucks from China, pick-up trucks from Thailand and cars from Japan, South Korea and India.
Auto assemblers reported good business results in the first months of the year. As the ratio of local content in automobiles is still small, automakers had to import large volumes of parts for domestic assembly.
According to the GSO, in addition to the $1.72 billion CBU auto imports, Vietnam has spent an almost equivalent amount importing auto parts since the year’s beginning.
The combined turnover of imported autos and auto parts from January to July is equivalent to the period’s estimated trade deficit of $3.4 billion.
Most automakers have not revealed their January-July business results but their sales volumes in the first half were high.
Data of the Vietnam Automobile Manufacturers Association (VAMA) indicated nearly 103,500 units were sold in the year to June, a 58 percent year-on-year rise. Of which, passenger cars accounted for more than 60,100 units (60 percent), commercial autos over 37,300 units and special-purpose vehicles over 6,000 units.
If sales growth is maintained, auto sales in all of 2015 can reach 200,000 units. Demand for autos is traditionally higher in the final months of year.
Source: Intellasia
Vietnam's seafood exports and imports in first 2 months of 2024
Vietnam - South Korea trade exchange in first 2 months of 2024
Exporting pepper and spices: Improving quality, targeting the high-end market segment
In the first 2 months of the year, Vietnam's anise export reached 1,437 tonnes
Vietnam is the 13th largest mango supply market for the United States
Fertilizer exports and imports in February and first 2 months of 2024
Exports and imports of animal feed and raw materials in February and first 2 months of 2024
Vietnam’s Q1 GDP to moderate amid rising inflation: Standard Chartered
Vietnamese coffee market share in Belgium increased to 20.08%
Are Vietnamese textiles and garments the choice of US importers?
Lobster export to Chinese market increased 27 foldtimes
Buyers flock to Vietnam, agricultural products are racing to increase prices
Mechanical industry exports are on recovery path
In the first 2 months of this year, the country exported nearly 352,000 tonnes of fertilizers
Plan of Hai Duong province for a period of 2021 - 2030, ...
Organize space reasonably and harmoniously, focusing on connecting Hai Duong in common development space, actively contributing to the ...Plan of Hau Giang province in a period of 2021 - 2030, ...
Sustainable forestry development program in a period of ...
Students promote Vietnamese culture in Russia
The Vietnamese Students’ Association in the Peoples' Friendship University of Russia (RUDN) held an event called "Bamboo Legend” on ...Exhibition on General Vo Nguyen Giap opens in Nghe An
Da Lat festival: Classical music taken out of auditorium ...