A mobile phone assembly line at Samsung Vietnam's factory.(Photo courtesy of the firm) Phones and components achieved an export turnover of 57.9 billion USD lastyear, a year-on-year increase of only 0.8%, according to the latest data fromthe General Department of Customs.
Exports to China reached 16.26 billion USD, up 7.1%; to the US reached 11.88billion USD, up 22.5%; to the EU reached 6.7 billion USD, down 15.1%; to theRepublic of Korea reached 5.05 billion USD, up 5.3%.
The phone exports grew slowly in the last months of last year, when exportorders declined sharply due to the impact of economic slowdown and inflation inmany major import markets of the country such as the US, EU, and Japan.
Particularly in December, the export turnover of this item reached 3.1 billionUSD, down 31.4% from the previous month.
A report by HSBC said that after more than two years of booming trade, a periodof "stagnation" has come to Vietnamese key export industries sincethe fourth quarter of last year.
Global orders fell sharply, affecting Asian exporters and Vietnam was noexception.
Among the key export sectors of Vietnam, including textiles, footwear,computers, furniture, mobile phone export has the largest influence.
Accounting for an increasingly large proportion (over 17%) of the country'stotal export turnover, the growth of phones and components has a greatinfluence on the overall export growth.
However, over 95% of the export turnover of this product belongs to FDIenterprises.
HSBC pointed out that the reason for the decline in exports in the last monthof last year came from the electronics sector, which accounts for about 35% of Vietnam'stotal export turnover.
New electronic orders in the world have begun to decline sharply from thesecond half of last year, affecting the consumer electronics sector more thanindustrial products.
The impact occurs on a large scale in the three main export destinations of Vietnam,the US, China and Europe.
Exports are still facing "headwinds" in the first month of the newyear and it is forecast that the drag on exports will at least last until theend of the second quarter.
The export turnover of phones reached 4 billion USD last month, down 19.6% overthe same period.
Vietnam was badly affected when global trade slowed, seeing its exports dropsignificantly for the first time compared to the past two years.
In particular, the decline stems from the economic downturn in the US, thelargest export destination of Vietnam, followed by the EU.
Although decelerating, in the medium and long term, the phone and componentmanufacturing industry is still "leading" in terms of exports, becauseup to now, this field has attracted a huge amount of FDI into production.
Samsung alone has accumulated capital in Vietnam reaching 18.2 billion USD.
In recent years, the electronics and phone manufacturing industry has had manyopportunities to welcome the investment wave from large technology corporationsto move to Vietnam.
A series of large outsourcing partners of Apple and LG such as Foxconn,Luxshare, GoerTek, and Compal all have factories located in Vietnam or haverelocated from China, creating an increasingly large production and supplycapacity, making Vietnam an important export address in the production chain ofthis industry on the global map.
The export turnover of the group of phones and components increased by 9.2times from 2010 to 2013, becoming the group with the highest export value andthis position has been maintained continuously since 2013.
When Vietnam became the world's new production base, billions of dollars of FDIinflows from global corporations and businesses poured in, along with extensiveopening and integration with the world through a system of free tradeagreements (FTA), the export value of key manufacturing industries from phonesand components increased every year.
In the two years of 2021 - 2022, although the economy was greatly affected bythe COVID-19 pandemic, this group of goods still achieved a high and stablegrowth rate, and the export value continued to grow sharply, reaching 57.5 USD and57.9 billion USD respectively, accounting for over 17% of total exportturnover./.
VNA
