Automobile imports from UK decrease sharply, valued at VND 1.9 billion/unit

The import-export turnover with the UK in the first two months of 2019 and 2020. Sketched by: T. Bình.

According to the General Department of Vietnam Customs, in February, export turnover of Vietnam to UK reached nearly US$427 million, raising total export turnover in the first two months to $750 million.

Compared with the same period in 2019, the result declined by 6%, equivalent to nearly $50 million.

The decline was mainly related to turnover of phones and components with a figure of nearly $210 million, a sharp decline of about 21%, or more than $40 million.

Despite the decline, phones and components was still the largest group of Vietnamese exports to the UK.

Other groups of goods exported to the UK that were noticeable in the first two months of 2020 such as textiles and garments worth $103.5 million; machinery, equipment, tools and spare parts of nearly $72 million; footwear was $92.7 million.

Meanwhile, regarding imports, in the first two months, turnover reached $102.6 million, down by more than 15% compared to the same period last year (equivalent to nearly $16 million).

The largest import group from the UK in the first two months was machinery, equipment, tools and spare parts with turnover of $28.8 million, down about $6 million over the same period in 2019.

The number of completed automobile imported from the UK was only 33 units, down sharply by more than two times compared to the same period last year (the same period in 2019 was 112 units).

In terms of import value, the average imported completed automobile from the UK was $82,318/unit (excluding tax), equivalent to about VND 1.9 billion.

Thus, although quantity was decreased, the average import value was much higher than the same period last year (the same period was only $65,900/unit).