Vietnam increases import of auto parts from Chinese market

VOV.VN - Vietnam spent a total of US$240 million importing auto parts and accessories during the first half of August, with Chinese-origin parts increasing sharply, according to details given by the General Department of Vietnam Customs.

Between the beginning of the year and mid-August, the country’s total import turnover of auto parts and components reached a figure of US$3.51 billion, representing an annual rise of 7.56%.

The leading exporter of auto parts to the country remains the Republic of Korea (RoK) with a total turnover of US$878.66 million, up 11% against the same period from last year, followed by China with US$748.9 million and Thailand with US$535.6 million.

Currently, imports from the RoK, China, and Thailand account for 66.3% of the nation’s total import turnover of auto parts and accessories.

Aside from importing components and spare parts, the country also imported completely built-up (CBU) vehicles from Thailand and China during the opening seven months of the year with 31,798 and 12,104 vehicles, respectively.

Thailand is projected to become the leading country in terms of exporting CBU vehicles and spare parts to the Vietnamese market in the long term.

Vietnamese automobile consumption output is anticipated to reach 500,000 vehicles this year, thereby making the Southeast Asian nation the third largest auto consumption market in the region behind Thailand and Indonesia.

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