VN imports $8.3b of equipment from China in 11 months

The import value in November from China had a year-on-year increase of 1.4 per cent, and China was the largest supplier of equipment and machine for Viet Nam, accounting for 33 per cent of Viet Nam’s total import value of those products. — Photo life.edu.vn

Viet Nam paid US$8.27 billion on importing equipment and machines from China in the past 11 months of 2016, according to the General Department of Customs.

In November, the nation imported $930 million in Chinese equipment and machines, the largest out of 45 major goods items importing from China.

In particular, total import value of equipment and machines from China was higher than the total value of 48 major goods items imported from the US at $7.78 billion in the first 11 months.

The general department said China was also the largest supplier of all goods items for Viet Nam with total import value at $45.06 billion during 11 months.

Viet Nam imported from China $5.51 billion worth of telephones and their components, computer and electronic products and their components worth $5.36 billion, cloth worth at nearly $5 billion, and iron and steel worth at $4.01 billion.

Of which, import value of telephone and its components from China to Viet Nam reduced sharply by $944 million year-on-year in the first 11 months.

Instead, South Korea was the largest telphone supplier in Viet Nam, with total import value at $7.94 billion in the 11 months, a year-on-year increase of 26.3 per cent.

In the 11 months, Viet Nam had total import value of about 157 billion, a year-on-year surge of 3.7 per cent, according to the general department.

Of which, foreign direct investment enterprises imported goods worth at $92.75 billion in total, a year-on-year increase of 3.5 per cent during 11 months. However, in November, import value of FDI enterprises reduced slightly by 0.4 per cent to $9.5 billion. — VNS