Vietnam Cars, Auto Components Imports Up 27.6% to $1.29B in H1

Vietnam is estimated to have spent $1.294 billion import cars and components in the first half of this year, rising 27.6% from a year earlier, the government’s General Statistics Office said.

Of the value, the imports of cars under the mode of complete built unit (CBU) accounted for $394 million, down 4.2% on-year. The country imported 23,000 CUB cars in the period, down 3.9%.

Imports of new cars with a capacity of 16 or fewer passengers are now allowed to get through only five international ports with tightened customs clearance procedures.

The move is aimed to limit auto imports which have been among main factors causing the country’s trade deficit to widen