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Vietnam's automobile import value rises 10 pct in January



HANOI, (Xinhua) -- Vietnam spent 58 million U.S. dollars in the first month of 2014 to buy some 3,000 automobiles from abroad, with the value up 10 percent while the volume remaining unchanged as compared with the same period last year.

Compared to December 2013, automobile imports plunged 25 percent in volume and 30 percent in value, said Vietnam's General Statistics Office on Monday.

Insiders attributed the decrease of automobile imports in January over the previous month to the country's 10-day long Lunar New Year holiday.

The pause caused by the holiday has had negative impacts on importing activities by Vietnamese businesses, which contributes to the decline of Vietnam's automobile turnover in the first month, local Vietnamese VNEconomy quoted insiders as saying.

Although it is hard to forecast the trend of Vietnamese imported automobile market in 2014 based on vague signal in the first month, Vietnamese companies operating in the sector said that they are expecting positive changes in the market and considering it a sign of the country's economic recovery.



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