Where do Vietnam auto parts import from? Among the top 5 markets, China ranks second

Vietnam's "Customs Online" reported on September 19 that according to statistics from the General Administration of Vietnam Customs, in August alone, Vietnam's imports of various auto parts and components reached 329 million US dollars, although compared with July's 421 million US dollars. at a higher level.

     In the first eight months of this year, Vietnam’s auto parts imports reached US$3.38 billion, a year-on-year increase of 48.9%, an increase of US$1.1 billion.

Where do Vietnam auto parts import from? Among the top 5 markets, China ranks second

     Vietnam's auto parts import market is quite diverse, but the countries with a large import value are concentrated in South Korea, Japan, Thailand, India, China and other Asian regions.

     For example, in August, imports of auto parts from South Korea amounted to $81 million, China $61 million, Thailand $60 million, Japan $40 million, and India $23 million.

     Therefore, the above five markets alone amounted to US$265 million, accounting for 81% of Vietnam's total imports of auto parts and components in the month.

     In terms of original car imports, as of the end of August, Vietnam had imported 105,702 original cars, with an import value of 2.35 billion US dollars, an increase of 95.6% and 91.3% year-on-year respectively.

     In the first few months of the year, automakers, assemblers and importers profited despite the complexities of the pandemic.