Vietnam’s H1 imports from the US rise 19 pct

By Dat Nguyen August 6, 2019 | 02:16 am PT

Shipping containers are stacked at a port in Hai Phong, northern Vietnam. Photo by Reuters/Kham.

Vietnam’s imports from the U.S. rose 19 percent year-on-year to $6.9 billion in the first half of the year, autos and fruits leading the way.

Data from Vietnam Customs show that 14 import categories recorded a value of $100 million or higher, with the strongest growth seen in cars, rising by 107 percent to over $24 million. Import of car parts also rose by 95 percent to $8.8 million.

Vegetables and fruit imports rose 70 percent, reaching over $116 million, while seafood climbed 67 percent to $47 million. Confectionery and cereal product imports increased 66 percent to over $5 million.

In terms of import value, computers and electronics were on top at $2.2 billion, up 49 percent year-on-year, accounting for 32 percent of total imports.

China Tuesday halted its purchases of U.S. agricultural products after Washington ratcheted up tensions last week with U.S. President Donald Trump vowing to impose a 10 percent tariff on $300 billion of Chinese imports from September 1.

China imported $9.1 billion of U.S. farm produce in 2018, down from $19.5 billion in 2017, according to the American Farm Bureau.

This could impact on Vietnamese imports from the U.S. in the second half of the year, Vietnamese traders said.