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
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