Vietnam Imports 28,000 Cars in 2007, up 223 per cent
Vietnam’s automobile traders were estimated to import 28,000 cars in 2007, valued at US$523 million, up 233 per cent in volume and 21.6 per cent in value, the General Statistic Office reported Friday.
In December, the country spent US$73 million buying 5,000 units, up 123 per cent on month in value and 25 per cent in volume, GSO noted.
The real value might be much higher than state agencies’ calculations based on customs declarations of importers, said a senior car trader, noting it would hit nearly US$2 billion if including import tax expenditures.
Cars were imported mainly via Haiphong and Saigon ports, then to be offered in big cities of Hanoi and Ho Chi Minh, said a senior customs official, adding car import tax reduction to 60 per cent and simple customs procedures help to boost the trading.
The Ministry of Industry and Trade forecast Vietnam will import US$413 million of new and used cars in 2008, up 116 per cent on year, excluding US$900 million worth of car parts.
The country will likely consume 1.27 million cars by 2010 and 3.06 million by 2020, said the Ministry of Foreign Affair on its official Web site. (Vietnam & World Economy)
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