Electronics and automobile imports from ASEAN skyrocket

VOV.VN - Imports of electronics and automobiles from ASEAN jumped high in the first quarter of this year, according to latest statistics from the General Department of Vietnam Customs.

Imports of CBU cars increased by 87.6% to US$152 million. It’s noteworthy that most of the CBUs were imported from Thailand (valuing at US$142 million) and the rest from Indonesia (US$10 million).

Automobile experts said automobile imports from ASEAN will continue to surge in the coming time. The sharp rise is attributable to tax cut from 50% to 40%. After the import duty from ASEAN will drop to 30% in 2017 and zero in 2018, the regional group will replace the Republic of Korea to become Vietnam’s major supplier of automobiles.

Meanwhile, Vietnam also spent US$322 million on importing electrical and electronic products from ASEAN, including US$244 million for the products from Thailand.

Imports of equipment and tools reached US$434 million, up 9.3% over the same period last year, of which US$179 million went to Thailand, US$102 million to Singapore and US$98 million to Malaysia.

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