Vietnam’s machinery imports from China reached more than US$8 billion in 11 months of 2016

Vietnam's machinery imports from China reached more than US$8 billion in 11 months of 2016

According to the report of the VOA News, according to the General Administration of Customs of Vietnam, in November 2016, Vietnam’s imports of machinery, tools, and accessories from China reached more than 930 million U.S. dollars. In the first 11 months, imports totaled 8.271 billion U.S. dollars. Of the 45 major commodity classes imported from China in Vietnam, this is the most imported commodity. Compared with the same period in 2015, the import volume of this commodity category increased by only 1.4% (equivalent to an increase of US$119 million), but China is still the largest supply market for Vietnam’s machinery equipment, tools and accessories, accounting for the total amount of imports. Nearly 33%. It is worth mentioning that Vietnam’s imports of machinery, equipment, tools, and accessories from China are higher than those imported from the United States (in the first 11 months of 2016, Vietnam imported 48 types of goods from the United States with an import value of US$7.78 billion).

The General Administration of Customs stated that in the first 11 months of 2016, China became Vietnam’s largest import market for goods, with an import value of US$45.058 billion. In addition to machinery and equipment, tools, and accessories, there are seven categories of goods with a value of more than US$1 billion, including mobile phones and components (US$5.507 billion); computers, electronic products and components (US$5.356 billion); fabrics (49.52 Billion US dollars); steel (40.13 billion US dollars) and so on. Among the categories of goods imported from China, the import value of mobile phones and parts fell the most, which was a decrease of 944 million U.S. dollars.

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