Which markets does Vietnam import machinery and equipment from?

Many imported goods recorded double-digit growth. Contributing nearly 40 billion USD, computers, electronic products and components are the "champions" of exports.

According to preliminary statistics from the General Department of Customs, in the first 8 months of 2024, Vietnam recorded 39/53 groups of goods with an import value of over 1 billion USD, an increase of 1 group compared to the same period in 2023. In particular, there were 2 groups of imported goods with large values: computers, electronic products and components reaching 69.24 billion USD; machinery, equipment, tools and spare parts reaching 31.36 billion USD.

Imports of machinery and equipment to Vietnam in August 2024 increased by 2.3% compared to July 2024 (equivalent to an increase of 100 million USD) and increased by 21.4% compared to August 2023, reaching 4.54 billion USD.

Specifically, in the first 8 months of 2024, the cumulative import of this group of goods reached 31.36 billion USD, an increase of 17.1% compared to the first 8 months of 2023.

Việt Nam nhập khẩu máy móc, thiết bị từ những thị trường nào?

In the first 8 months of 2024, Vietnam spent more than 31.3 billion USD importing machinery and equipment, of which imports from China accounted for nearly 59%. Photo: TH

Machinery and equipment imported to Vietnam mostly originate from the Chinese market, accounting for 58.8% of the total import turnover of this group of goods nationwide, reaching over 18.43 billion USD, an increase of 29.2% compared to the first 8 months of 2023; of which August 2024 alone reached over 2.72 billion USD, an increase of 2.1% compared to July 2024 and an increase of 30.5% compared to August 2023.

Behind the main market China is the Korean market, accounting for 11.7%, reaching over 3.68 billion USD, up 1.4% over the same period last year; in August 2024 alone, imports from this market reached 514.09 million USD, up 2.3% over July 2024 and up 12.7% over the same month last year.

Following the Korean market is the Japanese market, accounting for 8.1%, reaching 2.54 billion USD, down 4.08% over the same period last year; in August 2024 alone, imports from this market reached 328.03 million USD, up 6.5% over July 2024 and down 1.5% over the same month last year.

Calculated from preliminary statistics of the General Department of Customs

Next, the Taiwan market (China) reached 899 million USD, up 5.71% over the same period last year, accounting for 2.9% of the proportion; imports from the EU were over 1.94 billion USD, up 3.9% over the first 8 months of 2023; imports from the Southeast Asian market increased by 5.2%, reaching 1.59 billion USD, accounting for 5.1%.

On the other hand, machinery and equipment exports to markets in the first 8 months of 2024 reached 32.76 billion USD, up 22% over the same period in 2023. Thus, Vietnam's trade surplus in the machinery and equipment group reached over 1.4 billion USD.

Source: https://congthuong.vn/viet-nam-nhap-khau-may-moc-thiet-bi-tu-nhung-thi-truong-nao-348974.html