Import turnover of raw materials for textiles, footwear, and plastics reaches tens of billions of dollars

	The whole country spends over US$147 billion to import goods
	88.8% of import turnover are equipment and raw materials for production

The textile and footwear industry still depends heavily on imported raw materials. Photo: H.Dieu

According to statistics from the General Department of Vietnam Customs, the country spent US$ 2.36 billion on importing raw materials for the textile and footwear industry in August. This figure increased by 5.8% month-on-month.

In general, in the first eight months, Vietnam spent US$18.03 billion on importing raw materials for the textile and footwear industry, increasing by 14.6% year-on-year.

The country mainly imported raw materials for the textile and footwear industry in the first eight months from China. The import turnover from this market alone reached US$10.16 billion, up 23.7% over the same period last year, accounting for 53% of the country's import turnover of the commodity group.

Plastic raw materials and products are also a group of goods with a large import turnover of over tens of billions of dollars.

In August 2024, the import turnover of plastic raw materials and products reached US$1.85 billion, up 1.4% compared to the previous month.

By the end of August, the country spent US$13.23 billion on importing plastic raw materials and products, up 18.2% compared to the same period last year.

Notably, China also the Vietnam’s largest import market. In eight months, Vietnam spent US$5.27 billion on importing raw plastic materials and products from China, up 32.4% compared to the same period last year.

The import turnover from South Korea rose 18.7% year-on-year to US$2.59 bilion.

Over the past eight months, Vietnam spent more than US$31 billion on importing raw materials for textiles, footwear, and plastic materials and products.

By the end of August, Vietnam's total import turnover reached US$246.87 billion, up 18.1% over the same period last year.