HCMC – Electronics imports from China shot up nearly 63% in the first seven months of this year, according to data from the General Department of Vietnam Customs.
During this period, Vietnam’s total imports from China reached US$79.62 billion, up by 35.7%, or US$20.96 billion, compared to the same period last year. China accounted for 37% of Vietnam’s total import value in the period.
Along with electronics, Vietnam imported US$15.74 billion worth of machinery from China, a 29.2% year-on-year rise, and US$8.81 billion in raw materials for the textile and footwear industries, up by 23.7%.
Vietnam also boosted imports from other markets. Imports from South Korea rose by 11.8% to US$31.87 billion, while imports from ASEAN countries jumped by 13.1% to US$26.5 billion.
In July, Vietnam’s total trade amounted to US$70.12 billion, a 9.4% increase against June. Exports stood at US$36.24 billion, a 7.7% rise over the previous month, while imports grew by 11.2% month-on-month to US$33.88 billion.
The U.S. remained Vietnam’s largest export market from January to July, with shipments rising 25% year-on-year to US$66.40 billion. Exports to the European Union also increased by 16.8% to US$29.52 billion. Meanwhile, Vietnam’s exports to China were valued at US$32.39 billion, up by 5.8% versus the year-ago period.
Cumulative trade for the first seven months of the year totaled US$440.45 billion, a 17.2% increase against the same period last year.
Vietnam’s trade surplus in July was US$2.36 billion, bringing the total surplus for the first seven months to US$14.53 billion, down from US$16.5 billion in the same period last year.
