Spending over US$11 billion to import one group of commodities in less than two months

Sketched by T.Bình

According to General Department of Vietnam Customs, in the first half of February (February 1-15), the whole country spent nearly US$2.8 billion importing computers, electronic products and components.

Overall, from the beginning of the year to February 15, the import turnover of this product group reached more than US$11.34 billion, an increase of 14.83% over the same period last year (equivalent to an increase in turnover of nearly US$1.5 billion).

This is the largest group of imported goods and also the first group to reach a turnover of tens of billions of dollars (including both export and import).

As of February 15, the group of computers, electronic products and components accounted for more than 28.1% of the country's import turnover.

Vietnam mainly imports computers, electronic products and components from Asia’s markets.

Accordingly, imports of this group of goods from China reached US$2.62 billion (updated by the General Department of Vietnam Customs by the end of January 2024), an increase of 16.6% (equivalent to an increase of US$372 million) compared to the same period of 2023. This is the largest import market for computers, electronic products and components.

Next are the markets: Korea reached US$2.23 billion, declining 18.5% (corresponding to a decrease of US$507 million); Taiwan (China) reached US$1.16 billion, an increase of 47.8% (equivalent to an increase of US$376 million); Japan reached US$857 million, rising 24.9% (equivalent to an increase of US$171 million).

From the beginning of the year to February 15, exports of computers, electronic products and components reached a turnover of US$7.2 billion. Thus, in the first month of the year, this group of goods had a trade deficit of more than US$4 billion.