From 2013 to 2023, the import of parts of machines and mechanical appliances to Vietnam has shown a general upward trend, with significant fluctuations. The value increased from 49.11 million USD in 2013 to 187.4 million USD in 2023. Year-on-year variations have been quite notable, with peaks such as a 49.6% increase in 2017 and a notable dip of 12.51% in 2020. The Compound Annual Growth Rate (CAGR) over the last five years stood at 5.07%.
Looking forward, annual import values are projected to continue rising, reaching 220.71 million USD by 2027 and 228.59 million USD by 2028. The forecasted five-year CAGR is 3.12%, with a forecasted five-year growth rate of 16.59%.
Future trends to watch for include technological advancements, Vietnam's ongoing industrialization, and trade policies. These factors could influence both the demand and the value of imported machine parts and mechanical appliances.
