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Imports mounts up in H1
30
Jul '08
In the first six month of the current year, country imported goods worth US $7.47 billion, as per the information gained from preliminary statistics of General Department of Vietnam Custom.

Ministry of Industry and Trade (MOIT) informs that imports have grown by 61.6 percent with value of $44.8 billion compared to last year. During this period, imports from other countries increased by 70 and 30 percent in terms of value and volume respectively. This surge can be attributed to rise in domestic demand.

Essential products comprising machinaries and equipments accounted 76 percent of the total import value.

MOIT reckoned that, during this period the country has expended more as prices of imported materials have increased; another factor that cannot be ignored at this point is that the purchasing power of people is increasing continuously. This of course can be counted as positive as it depicts economic growth of the country.

Due to devaluation of US Dollars, country could afford to import more in the first four months.

Statistics reveals that import value of $6.925 billion in June, $7.67 billion and $8.23 billion in May and April respectively.

Fibre2fashion News Desk - Vietnam

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