Vietnam’s FDI firms post $26 billion in imports in Jan-Apr
Vietnam’s FDI firms post $26 billion in imports in Jan-Apr
Imports of businesses with foreign direct investment strongly rose to nearly US$26.3 billion in the year to April, increasing 18.2 percent compared to the same period last year, and accounting for 58.3 percent of Vietnam’s $45.1 billion total import turnover, according to statistics released on April 28 by the Ministry of Industry and Trade.
Local firms’ imports only reached $18.86 billion, making up 41.7 percent of the country’s total import revenue, and rising 8 percent compared to the same period last year, the statistics show.
The group of goods subject to import restrictions saw a year on year increase of 5.1 percent, hitting nearly $2 billion, and occupying 4.4 percent of the total import turnovers.
Imports of goods subject to control such as motorcycles and spare parts, iron, and steel scraps posted around $1.8 billion in revenue, up 15.5 percent in comparison with the same period last year, and constituted four percent of the total import earnings.
Meanwhile, the country’s traditional export staples, including agricultural produce, minerals, and fuel, saw slower growth and declined export turnovers.
Coffee exports dropped 6.9 percent, rubber plunged 24.9 percent, plastic fell 5.3 percent, and fertilizer sank 0.4 percent.
Vietnam ran a $400 million trade deficit in April and thus posted a trade surplus of $683 million in the first four months.
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