The group of imported raw materials and accessories galloped in the first quarter of 2022

DNHN - There were 88.7% of all imports in the first quarter that were used to make things at home. This is up 16.8% from the same time last year.

China's first-quarter report on industrial production in 2022 from the Ministry of Industry and Trade said that besides the recovery of production, exports grew because more people bought goods from many businesses.

Import activities also went up. Commodity exports also grew very quickly.

Merchandise import turnover in March was 33.67 billion USD, up 28.7% from the previous month. 

This brought the total for the first three months of 2022 to 87.77 billion USD, up 15.9% from the same period last year.

The domestic economy made up 29.43 billion USD, up 13.7%, and the FDI sector made up 58.3 billion USD, up 17.1%. When it comes to the structure of goods imports, the group of goods that must be imported (raw materials and auxiliary materials for domestic production) made up 88.7% of the total amount of goods that were imported in the first quarter- making up 77.88 billion dollars, up 16.8% from the same period in 2021.

In the first three months of 2022, imports of computers, electronic goods, and parts reached a record high of 21.72 billion dollars, up 31% from the first three months of 2021. Similarly, the number of goods that were imported went up a lot.

Phones and components, for example, went up 15.2%.

Plastic raw materials went up 18.9%; all kinds of rubber went up 33%; cotton of all kinds went up 40%; tobacco raw materials went up 1388%; coal went up 977%; crude oil went up 70%; gasoline and other materials went up 129%; and so on.

There was a big change in the prices of petroleum products because of the Russia-Ukraine conflict.

This group of goods had an import value of 2.37 billion USD, while the total import value for the whole year 2021 is 4.1 billion USD. Imports in the first quarter of 2022 rose because businesses bought more raw materials and fuels to help them make more goods in the first three months of the year.

Bich Anh