09 November 2023

The Ministry of Industry and Trade on November 2 said that the import turnover of raw materials for export production in October 2023 will continue to increase.

Specifically, the group of raw materials for production still accounted for a large proportion of the total import turnover of goods nationwide in October, estimated at 26.09 billion USD, up 7.2% over the same period in 2022 and accounting for 89% of total import turnover. This shows signs of recovery in industrial production.

In which, the import turnover of computers, electronic products and components reached 8.2 billion USD, up 26.4% over the same period in 2022; machinery, equipment, tools and spare parts reached 3.5 billion USD, up 2.4%; fabrics of all kinds increased by 8%; steel of all kinds increased by 35.2%; gasoline, oil of all kinds increased by 44.8% ...

However, due to general difficulties from the beginning of the year, accumulated in the first 10 months of 2023, the import turnover of raw materials for production still decreased by 12.1% over the same period in 2022 (estimated at nearly 236 billion USD).

Except for computers, electronic products and components increased by 0.8% (estimated at 71.02 billion USD), most key commodity groups and important inputs for the production of export industries decreased at double-digit rates. Specifically, phones and components decreased by up to 60.4%; iron and steel of all kinds decreased by 17.3%; machinery, equipment, tools and spare parts decreased by 10.5%; fabrics of all kinds decreased by 14.2%...

Import turnover of commodity groups to be controlled (vegetables, confectionery and cereal products, iron and steel scrap, cars, precious stones, precious metals...) also decreased by 18% in the first 10 months of 2023, estimated at 15.17 billion USD.

Also according to the Ministry of Industry and Trade, the import turnover of goods in October 2023 is estimated at 29.31 billion USD, up 2.9% compared to September. In which, the domestic economic sector reached 10.36 billion USD, up 3.7%; FDI sector reached 18.95 billion USD, up 2.4%.

Compared to the same period in 2022, the import turnover of goods in October increased by 5.2%, of which the domestic economic sector increased by 8.5%; the foreign-invested sector increased by 3.5%.  In the first 10 months of 2023, the import turnover of goods is estimated at 266.67 billion USD, down 12.3% over the same period in 2022, of which the domestic economic sector reached 95.08 billion USD, down 10.3%; FDI sector reached 171.59 billion USD, down 13.3%.

In the first 10 months of 2023, there are 41 imported items worth over 1 billion USD, accounting for 91.4% of total import turnover (3 imported items over 10 billion USD, accounting for 43.4%).

Source: hanoimoi.vn