Vietnam's Machinery and Equipment Imports up 235%

Vietnam posted a growth of 235% in the first nine months of 2006 in imports of machines, equipment, tools and parts, worth US$ 4.7 billion in total, according to the country's Trade Ministry's Trade Information Center. In September alone, the country imported US$551 million worth of machines, equipment, tools and parts, up 23% from a year earlier. Japan continued to be a major supplier to Vietnam, with US$920 million of import turnover posted in the first eight months, an increase of 38% year-on-year. Imports from China amounted to over US$665 million in value, up 34.5% from a year earlier. Following China, Germany has overtaken Taiwan, Singapore and the Republic of Korea to become the third largest exporter of machines, equipment, tools and parts to Vietnam. Vietnam's total imports from Germany reached US$307 million in the first eight months, up 45.4% year-on-year.