2022-2023 FY sees imports of industrial raw materials worth over US$ 2 billion more than last FY

In the 2022-2023 financial year, more than US$2 billion worth of industrial raw materials were imported rather than that of the previous FY, according to the Ministry of Commerce.
During the period from 1 April to 16 December of the 2022-2023 FY, the import of industrial raw materials amounted to $5.765 billion, and private enterprises accounted for more than 98 per cent of imports.
In the previous 2021-2022 FY, the amount of industrial raw material import was only $3.73 billion, indicating the increased import value of $2.035 billion this year.
During the period, private companies imported the value of $5.677 billion, exceeding over $2 billion rather than that of the previous year.
In addition, the import value from state-owned enterprises was more than $87 million, exceeding $34 million surplus than the previous year.
In the eight and a half months of the current financial year, the total imported value was over $12 billion, surpassing over $2.5 billion than the previous year. During the period, the import of industrial raw materials was about 50 per cent of the total import amount.—TWA/CT