Workers of Foster Electric Vietnam Co. Ltd. on a production line.(Photo: VNA) Statisticsof the General Department of Customs showed that the export turnover of thisgroup of goods grew 14.05 percent year-on-year, equivalent to an increase of 6.25billion USD, accounting for over 15 percent of the total export turnover ofgoods of the country.
Thisexport result exceeded the forecast made by the Ministry of Industry and Tradein the third quarter of last year, when it said that computers, components andelectronic products could reach about 50 billion USD, a year-on-year increaseof 13.5 percent.
Asthe transport of goods to major markets faces many difficulties, theexport turnover of computers, electronic products and components still grew inmost key markets.
TheUS market is leading the import turnover of this group of goods from Vietnam,accounting for 25 percent of the export proportion. Exports to China reachednearly 11.1 billion USD, although only increasing by less than 1 percent,this still accounted for 21.83 percent of the total export turnover of thewhole industry.
The thirdlargest market is Hong Kong, which grew by 50 percent, bringing turnover to 6.3billion USD, the EU ranked fourth with 5.9 billion USD, up 2.59 percent, and theRepublic of Korea ranked fifth, reaching 3.49 billion USD, up nearly 22 percent.
Fourother markets with export turnover from over 1 billion USD to approximately 2billion USD, respectively, are the Netherlands with 1.8 billion USD, up 5.2 percent;Mexico with 1.35 billion USD, up 17.4 percent; Poland with 1.14 billion USD, up14.9 percent and Slovakia with 1.04 billion USD, up 27.7 percent.
Inaddition, there are a series of markets with import turnover of nearly 1billion USD, including Japan (996 million USD), Taiwan (938 million USD),Singapore (924 million USD), and India (828 million USD).
Theelectronics industry grew strongly due to the demand for consumer goods forcommunication as well as means of work in the context of social distancing dueto the impact of COVID-19 over the last two years.
Thisindustry has made good use of the opportunity to accelerate exports during thepandemic. The Ministry of Industry and Trade said that the production ofcomputers and electronic components in Vietnam is mainly dominated by foreigncompanies, especially multinational companies.
Althoughthe number of foreign-invested enterprises (FDI) is only a third of the totalnumber of electronic enterprises in Vietnam, the export proportion of theseenterprises has accounted for more than 90 percent of total export turnover andcovers 80 percent of domestic market demand from 2016 to 2021.
InVietnam, the electronics industry has enjoyed high export growth, thanks inlarge part to the presence of multinational technology groups leading globalvalue chains and shifting orders out of China.
Theelectronics manufacturing industry still has a positive outlook when the investmentshift of transnational corporations opens up great opportunities for Vietnam.For example, LG has moved its entire production line to Hai Phong, Apple hasmoved iPad and MacBook production lines from China to Vietnam, and Panasonichas stopped producing washing machines and refrigerators in Thailand toconsolidate equipment assembly in Vietnam.
Withan increasingly important position in the global supply chain, Vietnamcontinues to be an important order address for large corporations and enterprises.
Accordingly,the export turnover of computers, electronic products and components isforecast to continue to grow strongly this year and the export milestoneof 60 billion USD is not out of reach./.
VNA
