Vietnam spent $50 billion importing computers, electronic products, and components

August 26, 2022 | 17:16

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Computers, electronic products, and components were the leading import items by turnover in the first seven months of 2022.

Vietnam spent $50 billion importing computers, electronic products, and components

According to the General Department of Customs, in the first seven months of the year, the turnover of these goods was reported at over $50.1 billion, up 25.2 per cent compared to the figure of last year, accounting for 23.13 per cent of the total import turnover of the whole country.

In July alone, the country spent nearly $6.9 billion importing computers, electronic products, and components, increasing by 2.3 per cent over the previous month.

The leading import markets were mainly in Asia, such as China, South Korea, Taiwan, and Japan.

China was the largest import market with $14.64 billion, accounting for 29.22 per cent of the total market share and up by 25.56 per cent over the same period last year.

The leading import markets were mainly in Asia, such as China, South Korea, Taiwan, and Japan.

South Korea stands at the second position with $14.33 billion, accounting for 28.6 per cent of the total market share, up by nearly 37 per cent.

The next position was the Taiwan market with $6.98 billion, accounting for 13.93 per cent, up by 35.8 per cent, followed by Japan with more than $4.05 billion, accounting for 8 per cent, up by 34.55 per cent.

The above four major markets alone accounted for 79.75 per cent of the country’s total import turnover of this group of goods.

By the end of July, the country’s exports of computers, electronic products, and components reached $31.72 billion, up by 14.8 per cent over the same period last year.

Thus, by the end of July, the group of computers, electronic products, and components had a trade deficit of more than $18 billion.

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