VN imports of US goods shoot up

Việt Nam is importing more and more goods and materials from the US, especially cotton. — Photo saigondautu.com.vn

HCM CITY — Vietnamese imports of US consumer goods and feedstock in the first seven months has shot up from the same period last year.

According to the General Department of Customs, the imports were worth US$8.27 billion, 18 per cent up year-on-year.

Computers and electronics accounted for around $2.2 billion of them, nearly 49 per cent up, and raw cotton for $978 million, 14.1 per cent up.

Other major imports included raw plastic, machine parts, animal feed and textile and garment intermediate goods.

Last year the textile and garment industry imported around US$3 billion worth of raw cotton, $1.47 billion of it from the US due to its high quality.

Online newspaper baodautu.vn quoted Trần Thanh Hải, deputy head of the Ministry of Industry and Trade’s import-export department, as saying there has been rapid growth in imports from the US, especially agricultural produce and electronics, and this is expected to accelerate even further.

Việt Nam imported $13 billion worth of materials and products from the US in 2018. — VNS

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