Forecast: Import of Parts and Accessories for Motor Vehicles to Viet Nam

The import of parts and accessories for motor vehicles to Viet Nam has experienced significant growth over the past decade. In 2023, the import value stood at 2349.5 million USD. Over the last few years, the year-on-year variation showed an overall increasing trend, with fluctuations reflecting variations in economic conditions. Specifically, the variation in 2022 was 9.65%, and in 2023, it was 3.92%. The compound annual growth rate (CAGR) over the past five years stands at 4.47%. Looking forward, the forecasted data indicates a moderate growth rate, with a five-year CAGR of 2.84% and an overall growth rate of 15.05% by 2028.

Future trends to watch for include:

• Potential impact of global supply chain disruptions, which could affect import volumes.
• Technological advancements and increased adoption of electric vehicles, which may change the types of parts and accessories imported.
• Economic policies and trade agreements influencing import regulations and tariffs.
• Domestic manufacturing capabilities evolving, potentially reducing the reliance on imports.