HANOI: Vietnam spent over 1.2 billion U.S. dollars on importing some 45,000 complete built up (CBU) automobile units in the first five months of 2015, according to the Ministry of Industry and Trade (MoIT) on Tuesday.
The imports of CBUs into Vietnam during the period posted a year-on-year increase of 62.8 percent in volume and 60.1 percent in value.
As a result, the country’s five-month CBU imports nearly reached the figures of the whole year 2014.
Last year, Vietnam imported 72,000 CBUs worth 1.57 billion U.S. dollars, Vietnamese government’s website quoted the MoIT as saying on Tuesday.
In May alone, Vietnam spent 337 million U.S. dollars importing some 10,000 units of CBUs, posting the highest import value since the beginning of 2014.
The sharp growth of auto imports in Vietnam is putting strong pressure on the domestic auto manufacturing and assembly sector, assessed the website of Vietnamese government.
According to the MoIT, in January-May period, Vietnam produced some 72,400 auto units, up 62.3 percent year-on-year.
