Vietnam spent over $51 billion importing computers and electronic products in 10 months

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Chart: T. Binh

Electronic goods and raw materials dominate

In the past 10 months, items related to electronic components; materials for textile production, footwear or machinery and equipment are the groups of goods with the highest import turnover.

Of which, computers, electronic products and components with $51.27 billion is the largest imported commodity group.

Compared to the same periodlast year, the turnover of the above commodity group increased by $8.61 billion, equivalent to an increase of 20.2%.

South Korea continued to be the largest import market with a turnover of $14.1 billion, decreasing by $511 million, corresponding to a decrease of 4%.

China is the second largest market with a turnover of $14.09 billion and has the most impressive growth with more than $4 billion (corresponding to an increase of 40%).

The third largest market is Taiwan with $6.3 billion, up $1.7 billion (up 38%).

Machinery, equipment, tools and spare parts reached $29.77 billion, a slight decrease of 0.6% compared to the same period in 2019, it is the second largest import turnover group.

China continues to be the largest import market for machinery, equipment, tools and spare parts with a value of $13.14 billion, up 10%.

The next positions were South Korea with $4.9 billion, down 4.1%; and Japan with $3.7 billion, down 6%.

The group of textile, garment, leather and footwear materials and accessories (including cotton, textile fiber, fabrics of all kinds, textile and garment materials, leather, and shoes) reached $15.46 billion, down 13.5% (corresponding to a decrease of $2.7 billion).

Similar to many other commodity groups, China is the largest import market, down 8% compared to the same period last year, but accounting for 50% of the total import turnover of textile materials, leather and shoes.

Phones and accessories are the last group of "tens of billions of dollars" by the end of October with a turnover of $12.58 billion, an increase of 3.6% over the same period in 2019.

China and South Korea are the two main import markets of the above group with a total value of $11.72 billion, accounting for 93.2% of the total import value of phones and components of the country.

Of which, China reached turnover of $6.19 billion, down 3%; South Korea reached $5.53 billion, up 14.7%.

All kinds of whole-unit cars aregroups with notable fluctuations but in a downward trend. By the end of October, Vietnam imported 80,110 CBU cars with a total turnover of $1.76 billion, down 33.8% in number and 34.5% in value over the same period in 2019.

Goods are mainly from Asia

In terms of markets, Asia dominates the supply of goods to Vietnam, with a proportion of up to 80.4% of the country's total import turnover.

Through information on the import markets of key commodity groups mentioned above, China and South Korea can be easily recognized as the biggest Vietnamese importers of goods.

Specifically, the Chinese market reached $65.62 billion turnover, up 5.9% over the same period last year and accounting for 31.2% of the total import turnover of the country in the same period.

These figures for the Korean market respectively: $37.47 billion, down 5.1%, accounting for 17.8% of the total import turnover of the country.

Other major markets in Asia are ASEAN and Japan. In which, ASEAN reached $24.5 billion, down 8.1%, accounting for 11.6% of the country's import turnover; these figures of the Japanese market were $16.55 billion; 2.7% and 7.9%.

In the remaining four continents, the Americas reached $18.13 billion; Europe reached $15.59 billion; Oceania reached $4.33 billion and Africa reached $3.07 billion.

Among the four continents mentioned above, only Europe saw positive growth (3.3%), the others witnessed negative growth. Specifically, the Americas (down 2.7%); Oceania (down 0.3%); while Africa saw the biggest drop of 8.4%.