China is Vietnam's largest trading partner and import market. Many raw materials, accessories, and components of major domestic production and export industries are mainly imported from this neighboring country.
According to the General Department of Vietnam Customs, in August, the whole country spent US$1.89 billion importing materials and accessories for the textile, garment, leather, and shoe industries (all kinds of cotton, fabrics, and textile fibers and textile, leather shoe materials).
Generally, in eight months, the total import turnover of this group of goods reached US$17.7 billion, up 29.4%, equivalent to an increase of US$4 billion over the same period in 2020.
The group of raw materials and accessories for the textile, garment and footwear industry imported to Vietnam in the past eight months mainly originated from China, accounting for 52%, with a turnover of US$9.2 billion, an increase of 35% over the same period in 2020.
Followed by South Korea with US$1.7 billion, up 15%; Taiwan with US$1.7 billion, up 32%; the US with US$1.3 billion, down 5.1%.
China also holds the number one position in importing plastic materials. By the end of August, the whole country imported 4.84 million tons of plastic materials with a turnover of US$8.05 billion, up 12.5% in volume and 52.9% in value over the same period last year.
In which, import turnover from China reached US$1.62 billion, a sharp increase of 103%, equivalent to US$824 million. Followed by South Korea with US$1.54 billion, up 58%, respectively up US$568 million; Taiwan is US$1.11 billion, up 65%, equivalent to US$434 million.
Groups of components serving key export industries such as computers and electronic products, phones are also the most imported from China.
Specifically, computers, electronic products, and components imported from China in the past eight months were US$13.49 billion, up 34% over the same period last year; while mobile phones and components reached US$5.83 billion, up 62%.
By the end of August, imports from China alone reached US$72.04 billion, up 46.1% over the same period in 2020 and accounting for 33.3% of the import turnover of the whole country.
Source: VCN
Keywords: imports, materials and accessories, textile, garment, leather, China, import turnover, shoes industry
