In the first month of the year, Vietnam also imported many groups of goods with high value of over billions of USD, but mainly raw materials for production.
Import of 6 items reached over 1 billion USD
Latest statistics of According to the Ministry of Industry and Trade, the import turnover of goods in January 2025 reached 30.06 billion USD, down 14.1% compared to the previous month. Of which, the domestic economic sector reached 10.89 billion USD, down 22.2%; the foreign-invested sector reached 19.17 billion USD, down 8.7%. Compared to the same period last year, the import turnover of goods in January 2025 decreased by 2.6%, of which the domestic economic sector decreased by 3.3%; the foreign-invested sector decreased by 2.2%.
Regarding the structure of imported goods in January 2025, the group of goods requiring import is estimated at 26.87 billion USD, accounting for 89% of the total import turnover of goods nationwide; the group of goods requiring import control is estimated at 1.5 billion USD, accounting for 5% of the total import turnover.
Regarding the import market of goods in January 2025, Chinese market is the largest market supplying goods to Vietnam with an estimated turnover of 11.6 billion USD, down 2.2% over the same period in 2024 and accounting for 38.6% of the country's total import turnover of goods.
The General Department of Customs' report details that in January, there were 6 groups of imported goods with a turnover of 1 billion USD or more.
Leading the way are computers, electronic products and components with 9.73 billion USD. Imports of this group of goods of our country are mainly from the following markets: China with 3.22 billion USD, up 23.6% over the same period in 2024; South Korea with 2.68 billion USD, up 19.9%; Taiwan (China) with 1.53 billion USD, up 31.2%...
Second place is machinery, equipment, tools and spare parts with a turnover of approximately 4 billion USD. This result is quite similar to the same period last year.
Machinery, equipment, tools and spare parts are imported the most from China with a turnover of 2.54 billion USD, accounting for 63.64% of the total import turnover of this group of goods nationwide, a slight increase of nearly 40 million USD compared to the same period in 2024.
The remaining billion-dollar group is textiles with a turnover of approximately 1.1 billion USD, down 8% compared to the same period in 2024.
Similar to many other major import groups, China is also the market from which Vietnam imports the most garment fabrics, accounting for 71.48% (the total import turnover of this group of goods from China in January was 772 million USD). Compared to the same period last year, the import turnover of this group of goods from China decreased by 40 million USD.
Improving competitiveness and trade balance
Talking to reporters of the Industry and Trade Newspaper, economic expert Vu Vinh Phu said that Vietnam currently imports a lot of goods from China. Most of them are raw materials for production, which is not a cause for concern. However, Vietnam also imports a lot of agricultural products and consumer goods from this country. Therefore, it is necessary to improve the competitiveness of domestic goods to increase exports to this market, thereby helping to reduce the deficit and move towards a balanced trade balance.
Specifically, businesses must invest in improving the standards and quality of goods to be competitive with products from other countries in the Chinese market. In addition, improving transportation capacity and reducing logistics costs to enhance competitiveness for businesses. This requires not only the Ministry of Industry and Trade but also the Ministry of Transport and localities sharing the border to participate in improving the traffic system, investing in building warehouses near the border...
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