Vietnam imported 39,000 cars worth US$879 million in the first half of the year, down 47% year-on-year in volume and 47.7% in value.

Vietnam customs have identified a list of foreign goods forging Vietnamese origin that contributed to a surge in exports to the US, including bicycles, solar batteries, seafood, and wooden products.

The government’s decision to slash the registration fee for domestically-produced cars by 50% is set to further boost the sale of domestic cars in the two remaining quarters of this year.

Vietnam's exports slightly declined by 0.9% year-on-year to US$100.21 billion in the January-May period, and imports decreased 4.6% to US$96.67 billion.

The FDI sector posted exports of US$26.2 billion in the January – February period, up 5% year-on-year and accounting for 67% of Vietnam’s exports.

In January, Vietnam imported nearly 4,000 cars worth US$106 million, up 14% month-on-month in volume but down nearly 49% in value.

The government is determined to deal with the case in compliance with the law and ensure lawful rights of enterprises and consumers.

The majority of imported cars in Vietnam in November came from Thailand and Indonesia.

If not properly addressed, illegal transshipment would increase the risk of Vietnamese compliant traders facing slower export procedures in the US, as well as higher customs duties, said an expert of the US Agency for International Development (USAID).