Vietnam's machinery import surges in 11 months

Vietnam is estimated to spend over 5. 9 billion U.S. dollars importing machines, equipment and their spare parts in the first 11 months of this year, a year-on-year rise of 24.2 percent.

The imported machines, equipment and their spare parts between January and November generated the biggest turnover among imports to Vietnam between January and November, surpassing the import turnover of petroleum products totaling over 5.6 billion dollars, according to the Trade Information Center under the country's Trade Ministry on Monday.

The surge in machinery import reflects higher demand of enterprises in Vietnam for technology renovation.

Vietnam spent nearly 5.3 billion dollars importing machines, equipment and their spare parts in 2005, up 0.1 percent over 2004, the center said.

Source: Xinhua