Vietnam’s goods import from China surges 25pct in Jan- Aug

In the first eight months of this year, Vietnam’s goods import from China is estimated to have increased by over $3 billion from the same period last year, to touch $15.2 billion, according to the general Department of Vietnam Customs.
During the period, Vietnam mainly imported products such as machineries, equipments, components with a total value of over $3.3 billion, up about $440 million year-on-year, cloth with $1.87 billion, up $447 million y-o-y, computer, electronics products and spare parts with about $1.27 billion, up $273 million, telephone and components with nearly $911 million, up $274 million year-on-year.

Also, according to the agency, in August, Vietnam imported 3,331 CBU (completely built unit) cars, down 15.8 percent from July. According to car importers, the volume of used cars imported to Vietnam declined in month because second-hand cars with cylinder capacity of from 1.5 litres and higher are subject to new tariff as from August 15.

Accordingly, a used car imported to Vietnam will be imposed an absolute tax of $5,000-$15,000 per unit depending on vehicle plus a relative tax of 77-83 percent. From early this year so far, Vietnam has imported 41,324 units valued at $780 million, up 29.1 percent in volume and 31.6 percent in value from the same period last year.

The Vietnam Association of Manufacturers of Automobile (VAMA) said that in August, the car sales increased 10 percent over the same period last year, to reach 9,518 units, up 11 percent from July. – Vietbiz24

Tags: VIetnam China trade

Posted by VBN on Sep 19 2011. Filed under Import-Export, Import-Export turnover. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry