According to a report by the General Department of Vietnam Customs, in the first ten months of 2024, Vietnam spent over 117.5 billion USD on imports from China, a significant surge of more than 31.5% compared to the same period in 2023, equivalent to an increase of over 28 billion USD.
The Chinese market accounts for a substantial 38% of Vietnam’s total import value. Chinese goods are prevalent across most of Vietnam’s key import categories, ranging from electronics and components to raw materials, fruits and vegetables, consumer goods, and steel…
In the ten-month period ending October 2024, imports of electronics and components continued to rise, recording a 24% increase compared to the same period in 2023. With a total import value of over 88 billion USD in the first ten months, electronics and components accounted for 28% of the country’s total import turnover.
Computers, electronics, and components maintained their top position in terms of import value among Vietnam’s import categories. Major suppliers of electronic goods to Vietnam witnessed significant growth, with China reaching 28.5 billion USD, a 51% increase compared to 2023. South Korea followed with over 26 billion USD, a 14% increase, and Taiwan (China) with over 11 billion USD, a 33% increase…
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In the same ten-month period, South Korea was the second-largest source of imports for Vietnam, with a total import value of over 46 billion USD, a 7.6% increase, or an additional 3.3 billion USD. The ASEAN market ranked third, with a total turnover of over 38 billion USD, a 13% increase, or a 4.5 billion USD surge.
Additionally, during the first ten months of 2024, Vietnam also witnessed significant import growth from other markets, such as Taiwan (China), with 18.7 billion USD and a 21.6% increase; Japan, with 18 billion USD and a 0.6% increase; the EU, with approximately 14 billion USD and a 13% increase; and the US, with 12 billion USD and an 8% increase.
QUANG HUY – NGOC HAN
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