Import commodity groups experience strong changes in the first 4 months

Container ship transport imported automobiles to Tan Vu port – Hai Phong in March 2019. Photo: T.Bình

In the first 4 months of 2019, the import value of the whole country reached $78.48 billion which is $7.74 billion higher than the same period in 2018.

This result shows the import value of goods increased by 10.9% over the same period in 2018. There were 18 key commodity groups reaching over US $1 billion, accounting for 76% of the total import value of the whole country.

Some import groups such as completed cars have high import volume, which bucks the trend of previous years. As of the end of April, the number of completed cars that were registered for import reached nearly 51,000 units, an increase of 44,000 over the same period last year.

Completed cars are mainly imported from Thailand and Indonesia. Particularly, these two Southeast Asian markets accounted for 89% of the country's total import volume.

Due to the operation of Nghi Son refinery, the amount of imported crude oil in Vietnam increased significantly in the first 4 months of the year. Specifically, imported crude oil reached 3.3 million tons, while the figure of the same period last year was only 354,000 tons.

Imported coal also experienced a sharp increase when it doubled from the same period last year, reaching over 13 million tons.

Additionally, the key groups of machines, equipment, tools and spare parts; computers, electronic products and components also have 2-digit percentage increases.

However, a number of key commodity groups have suffered a significant decrease. Typically, the amount of imported iron and steel scrap decreased by 22.4% compared to the same period last year. The group of mobile phones and components decreased by 11.4% because imports from China plummeted by 19.7%.