Vietnam’s Import Landscape in January: Six Billion-Dollar Items

In January 2025, Vietnam’s import market revealed significant trends. The country imported a range of high-value goods, primarily raw materials for production. The total import turnover reached $30.06 billion, a decrease of 14.1% compared to the previous month. This decline reflects broader economic challenges and shifting trade dynamics.

Overview of Import Statistics

The Ministry of Industry and Trade reported that the domestic economic sector accounted for $10.89 billion, down 22.2%. Meanwhile, the foreign-invested sector achieved $19.17 billion, a decrease of 8.7%. Year-on-year, imports fell by 2.6%. The domestic sector saw a 3.3% drop, while the foreign sector declined by 2.2%.

In this context, six key items stood out, each surpassing $1 billion in import value. These items are crucial for understanding Vietnam’s economic landscape.

Major Imported Items

1. Computers, Electronics, and Components

Leading the list is the import of computers, electronic products, and components, totaling $9.73 billion. This category is vital for various industries, especially technology. Major suppliers include:

• China: $3.22 billion (up 23.6% from 2024)
• South Korea: $2.68 billion (up 19.9%)
• Taiwan: $1.53 billion (up 31.2%)

These figures indicate a robust demand for electronics, reflecting Vietnam’s growing tech sector.

2. Machinery, Equipment, and Tools

The second largest category is machinery, equipment, and tools, which reached nearly $4 billion. This figure remains consistent with the previous year. The main sources for these imports are:

• China: $2.54 billion (63.64% of total imports in this category)

This reliance on Chinese machinery highlights the interconnectedness of the two economies.

3. Textile Fabrics

Another significant item is textile fabrics, with an import value of approximately $1.1 billion. This represents an 8% decrease compared to the same month last year. Notably, China remains the dominant supplier, accounting for 71.48% of imports in this category, totaling $772 million.

4. Iron and Steel Products

Iron and steel products are also pivotal, contributing significantly to construction and manufacturing. However, specific figures for this category were not detailed in the report.

5. Chemicals

Chemicals play a crucial role in various industries, particularly agriculture and manufacturing. Again, specific values were not provided, but the trend indicates a steady demand.

6. Agricultural Products

Lastly, agricultural products remain a significant import category. While specific figures were not disclosed, the importance of these imports is underscored by their role in food security and industry.

Market Dynamics and Trade Balance

China continues to be Vietnam’s largest trading partner, supplying $11.6 billion worth of goods in January 2025. This figure represents a 2.2% decline compared to January 2024, accounting for 38.6% of Vietnam’s total imports.

Economist Vu Vinh Phu highlighted the heavy reliance on imports from China, particularly raw materials. While this is not alarming, the volume of agricultural and consumer goods imported raises concerns. To address this, Vietnam must enhance the competitiveness of its domestic products.

Strategies for Improvement

To improve the trade balance, Vietnamese businesses need to invest in quality and standards. Competing with foreign products requires higher quality goods. Additionally, improving logistics and reducing transportation costs are essential.

The Ministry of Industry and Trade, along with the Ministry of Transport, must collaborate. Local governments near the borders should also enhance transportation systems. Investments in warehouses and infrastructure near border areas are crucial.

Enhancing Domestic Production

Increasing the quality of domestic products will help reduce reliance on imports. This involves:

• Investing in technology: Modernizing production processes can lead to better quality and efficiency.
• Training workforce: A skilled workforce is essential for high-quality production.
• Research and development: Innovating new products can create competitive advantages.

Conclusion

Vietnam’s import landscape in January 2025 reflects both challenges and opportunities. The six billion-dollar items highlight the country’s reliance on imports for production. To achieve a balanced trade, Vietnam must enhance the competitiveness of its domestic products. This requires coordinated efforts among various ministries and local authorities.

As the country moves forward, the focus should be on improving quality, reducing costs, and building a sustainable trade environment. By doing so, Vietnam can strengthen its position in the global market and reduce the trade deficit.

Xem thêm: Gửi hàng nhanh từ Đồng Nai đi Hà Nội chỉ trong 4 tiếng

Xem thêm: Dịch vụ chuyển phát hàng đi Mỹ giá rẻ nhất

Xem thêm: Những lưu ý quan trọng khi gửi quà tặng bằng dịch vụ hoả tốc