Vietnam spends more than 1.65 billion USD importing components for car assembly

Auto parts imported by businesses to Vietnam continued to increase in May.

According to the General Department of Customs, auto parts and components imported into Vietnam by businesses continued to increase in May to 357 million USD, an increase of 39 million USD compared to the previous month.

South Korea still has the largest market share of components and spare parts exported to Vietnam, with 105 million USD, up 13% compared to April. China has overtaken Thailand, rising to 2nd place with more than 59 million USD, Thailand 57.5 million USD, Indonesia 26 million USD...

Meanwhile, the amount of components imported from Japan decreased by 7%, to more than 53 million USD. In terms of value, components imported from Germany were quite modest, nearly 19 million USD, but increased by over 50% compared to April. In the first 5 months, Vietnam spent more than 1.65 billion USD to import components and spare parts for domestic assembly, an increase of 20 million USD (about 14%) compared to the same period. Of which, Vietnam imported 481 million USD of components and spare parts from Korea. The second largest supplier to Vietnam was Japan with 300 million USD, the third was China with more than 290 million USD, the fourth was Thailand with 247 million USD...

Components and spare parts imported by businesses mainly from China include truck equipment, electrical wires, leather, mattresses...