Vietnam to Restrict Imports of Consumer Goods This Year
The Vietnamese Ministry of Industry and Trade will continue applying quotas of imports of consumer goods including automobiles, motorbikes, petroleum products, gas, gemstones, precious metals as part of efforts to curb trade gap.
Imports of those goods account for 16 per cent of the country’s total imports, the MOIT said.
This year, Vietnam will also restrict imports of tobacco materials, consumer goods, finished less than 12-seat cars, automobile and motorbike spare parts.
Vietnam is expected to cut down imports of those products to US$6.5 billion this year and US$7.2 billion next year.
In January, Vietnam’s trade gap narrowed 87.5 per cent on year to US$300 million thanks to sharp drops in imports of petroleum products and steel, according to the General Statistics Office. (Saigon Liberation, GSO)
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