Business

89 percent of imports raw materials for domestic production: Ministry

Up to 89 percent of the imports in the first four months of this year are raw materials and accessories for domestic production with a combined value of 106.6 billion USD, up 16.8 percent year-on-year, according to the Ministry of Industry and Trade.
89 percent of imports raw materials for domestic production: Ministry ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – Up to 89 percent of the imports in thefirst four months of this year are raw materials and accessoriesfor domestic production with a combined value of 106.6 billion USD, up 16.8percent year-on-year, according to the Ministry of Industry and Trade.

It reported on May 4 that Vietnam’s total imports expanded 15.7 percent year-on-year to an estimated 119.8billion USD in the period.

In April alone, the figure was estimated to reach 32.2billion USD, down 1.5 percent month-on-month and up 15.5 percent compared tothe same period last year.

Theimport of energy products strongly surged, partly due to scarce supply.

Notably, the import turnovers of gasoline and oil, coal, crude oiland liquefied natural gas surged by 146.9 percent, 123 percent, 63.7percent and 62.7 percent, respectively.

In addition, the import of other items also increased sharply such as petroleumproducts (up 30.3 percent), chemicals (up 29.3 percent), chemical product (26.71percent), fertiliser (73.3 percent), rubber (34 percent), mobile phones andaccessories (20.8 percent).

China was the largest market of Vietnam in the firstfour months, with an estimated turnover of 36.78 percent, up 8.3 percentcompared to the same period last year.

Vietnam alsoimported goods from the Republic of Korea, ASEAN, Japan, EU, and the US with respective values of 23.3 billion USD, 16.4 billion USD, 8.2 billion USD, 5.3 billionUSD and 4.7 billion USD./.
VNA
#raw materials #domestic production #import #total imports #energy products #Vietnam #Vietnamplus #Vietnam news #Vietnam News Agency
Follow VietnamPlus

Related News

Experts show optimism about balance of trade

Experts show optimism about balance of trade

Despite trade deficit in the first half of 2021, experts still predicted that Vietnam will soon resume balance in the trade of goods thanks to the strong growth in production.

See more

Deputy Prime Minister Nguyen Chi Dung speaks at the Vietnam Innovation and Private Capital Investment Forum 2025 (VIPC Summit 2025) in Hanoi on April 22. (Photo: VNA)

Deputy PM commits to innovation-driven growth at VIPC Summit 2025

Vietnam identifies sci-tech, innovation, and digital transformation as key economic drivers over the next decade, Deputy PM Dung said, noting that Vietnam’s strategic appeal to global tech giants is bolstered by a major shift in global supply chains, allowing the country to expand its manufacturing footprint in electronics, semiconductors, and AI.

A customer buys gold at a Bao Tin Minh Chau store in Hanoi (Photo: VNA)

Gold price hits new record

At 10am on April 22, Saigon Jewelry Company (SJC) listed gold bar prices at 120.5-122.5 million VND per tael.

A shopping centre in HCM City. The affordable and mid-range segments will remain pivotal in the city's retail property. (Photo: VNA)

HCM City retail property market faces challenges

New retail malls are consistently being introduced in districts outside the central areas, offering a wide array of business models. This trend is gradually transforming traditional street-front retail, which is under significant pressure from the growing e-commerce sector.

The event "The Essences of Vietnam Fruits" promotes typical fruits of localities across Vietnam. (Photo: congthuong.vn)

High-quality Vietnamese fruits to be showcased in Hanoi

Each displayed product will have a QR code which helps visitors easily access detailed relevant information, such as product origin, growing area, production and preservation processes, and official sales addresses.

A worker checks information on product origin at Dong A steel factory (Photo: www.sggp.org.vn)

Vietnam tightens product origin rules to boost global trade edge

As Vietnam deepens its integration into the global economy through more than 15 free trade agreements (FTAs), including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA), origin transparency has become a non-negotiable requirement to access tariff preferences and avoid trade defence measures.

Production at a small enterprise in Thanh Hoa province. Linkages will help small and medium sized enterprises diversify markets. (Photo: VNA)

Local businesses should strengthen links to overcome global challenges: Experts

Tran Thi Hong Minh, Director of the Institute for Policy and Strategy Studies under the Party Central Committee’s Commission for Policies and Strategies, said: "In a world of rapid and complex changes, linkages help businesses diversify markets, connect with new models and better use resources. They are also critical in mitigating risks and enhancing overall competitiveness.”

Nestlé Vietnam announces investment expansion in Vietnam operations (Photo: thanhnien.vn)

Nestlé announces investment expansion in Vietnam operations

Since 2011, Nestlé’s NESCAFÉ Plan has supported over 21,000 coffee farming households in adopting internationally recognised sustainable farming practices. These efforts have helped reduce water use by 40–60%, cut chemical fertiliser use by 20%, and increase farmers' incomes by 30–150% through crop diversification

Vietnam to diversify markets for agricultural products amid global trade shifts. (Photo: VNA)

Vietnam to diversify markets for agricultural products amid global trade shifts

According to the Ministry of Agriculture and Environment (MAE), Vietnam’s agricultural product exports are inevitably affected by disruptions in global supply chains and the imposition of unilateral, stringent tariff policies by major economies. Nonetheless, these challenges also present an opportunity for Vietnam to adjust its export strategy and focus more intently on emerging and high-potential markets.