Vietnam automobile import estimated +25.7% to $1.04bln in jan-apr: GSO

Vietnam automobile import is estimated to have reached $1.04 billion in the first quarter of this year, up 25.7% on-year, including $400 million worth of 21,000 complete built unit (CBU) automobiles

Vietnam automobile import is estimated to have reached $1.04 billion in the first quarter of this year, up 25.7% on-year, including $400 million worth of 21,000 complete built unit (CBU) automobiles, the General Statistics of Vietnam (GSO) said.

The CBU automobile import rebounded in March and April after falling in the February as the foreign exchange market and the consumers’ sentiment have become more stable.

However, local analysts predicted that the automobile import will turn to be flat and go down in the coming time due to lower car supply in the world coming from the earth quake and tsunami crisis in Japan.

In April alone, Vietnam is estimated to import $282 million including $122 million worth of 5,500 CBU automobiles, GSO said.

The GSO also revised it estimation figures on CBU automobile import in March to $115 million worth of 5,700 units, up $15 million worth of 700 units from estimation, raising the first quarter figure of $278 million worth of 15,500 units.

Meanwhile, Vietnam motorbike import is estimated to reach $327 million in the period, up 16% on-year.

Vietnam is estimated to have incurred a trade gap of $4.89 billion in the first four months of this year, up 6% on-year, driven by imports of machines and equipment, crude oil and fabric, the online newspaper NDHMoney reported on April 25, citing the General Statistics Office of Vietnam (GSO). – Stoxplus.com

Tags: Vietnam automobile imports