Vietnam’s Top 10 Import Markets: August 2023 vs. August 2024
Imports of computers, electronics, and components from China reached $22.65 billion, a 59.8% increase (equivalent to an additional $8.47 billion). Meanwhile, imports of machinery, equipment, tools, and parts also saw a significant surge, totaling $18.43 billion, a 29.2% jump (or a $4.17 billion increase) compared to the same period last year.
Raw materials for the textile, footwear, and leather industries from China accounted for $10.16 billion, a 23.7% rise (or $1.94 billion more). Imports of phones and components increased by $5.41 billion, a 28.8% surge (or $1.21 billion), while various steel products reached $4.71 billion, a significant 44.4% climb (or $1.45 billion) year-on-year.
Together, these five categories of imports from China amounted to $62.36 billion, making up 66% of Vietnam’s total imports from this market.
Other significant import markets for Vietnam include South Korea, with imports totaling $36.78 billion in the same period, a 10% increase (or $3.34 billion). Imports from ASEAN countries also rose by 12.5% (or $3.36 billion) to reach $30.27 billion in the first eight months of 2024.
Additionally, Vietnam’s imports from other key markets, including Taiwan, Japan, the EU (27 countries), and Kuwait, all witnessed notable year-on-year increases.
Specifically, imports from Taiwan reached $14.49 billion, a 19.8% jump (or $2.39 billion); from Japan, they totaled $14.32 billion, a 2.8% rise (or $392 million); and from the EU, they amounted to $10.8 billion, an 11.1% increase (or $1.08 billion). Imports from Kuwait saw a significant 39% surge (or $1.44 billion) compared to the same period in 2023.
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