Vietnam spends over $1.21 bn on auto imports

Hanoi, July 22 (IANS) Vietnam spent over $1.21 billion to import 49,900 automobiles in the first half of 2016, according to the Vietnam Customs on Friday.

The figures post a decrease of 19.3 per cent in value and 9.1 per cent in volume compared to the same period last year, Xinhua news agency cited the Custom’s website.

The country imported 20,400 automobiles with fewer than nine seats worth $375 million, keeping 15.9 per cent in volume and 69.4 per cent in value year-on-year.

During H1, a total of 21,900 trucks worth $458 million were shipped into Vietnam, rising 2.3 per cent in volume but 19.8 per cent down in value.

The country imported 7,600 units of other automobiles, worth $379 million, said the department.

Among major markets for Vietnamese auto imports in H1, Thailand ranked first with over 17,000 units, followed by South Korea with more than 9,000 units, then China and India among others.

According to the statistics by Vietnam Automobile Manufacturer Association, from January till June, as many as 135,863 automobiles including Complete Knock Down and Complete Built Up were sold in Vietnam, posting a growth of 31 per cent.

–IANS

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