Vietnam’s trade reached 83.1 billion USD in August, up 0.9% from July. In the first eight months, turnover amounted to nearly 598 billion USD, with computers, electronics and phones together accounting for about one-third of total exports and imports
The import value of computers, electronic products and components reached 4.52 billion USD in the first half of December, according to the General Department of Customs.
Electronics export has witnessed vigorous recovery, posting double-digit growth over seven and a half months and expected to hit 130 - 132 billion USD in 2024.
The electronics sector accounts for 17.8% of Vietnam’s industry, placing the nation among the world’s top 15 largest exporters of this kind of product.
With a view to becoming Vietnam’s leading manufacturing centre of electronic products, the northern province of Bac Ninh has taken a lot of concerted and flexible measures, focusing on high-value segments such as smartphones, electronic devices, and components.
Vietnam hopes to boost its exports of computers, electronic products and components to the UK in the near future after it has gained success in shipping this group of goods to many other overseas markets.
Vietnam raked in 29.17 billion USD from phone and component exports during the first half of the year, representing a rise of 16.4% on-year, according to the General Department of Vietnam Customs.
Vietnam’s total export turnover to Japan reached 11.38 billion USD in the first six months of 2022, up nearly 13% over the same period last year, according to the General Department of Customs.
Exports of computers, electronic products and components hit 50.82 billion USD last year, putting it in second position in the group of key export products.
The electronics industry will continue posting strong growth this year thanks to the strong demand for devices for communications and remote work amid the COVID-19 pandemic, the Ministry of Industry and Trade (MoIT) forecast.
Vietnam’s exports to Indonesia earned the country 2.51 billion USD in the first eight months of 2021, a surge of 44.2 percent year on year despite complicated developments of COVID-19.
The shortage of electronic chips is causing difficulties for businesses and electronics manufacturers as chipsets are used in most electronic products and technological devices.
Trung Nam Group has started construction of five factories at the Information Technology and Communication (ICT) Service Zone in the central city of Da Nang to host the moves of global supply chains.
The Ministry of Planning and Investment has instructed localities to review and report on the development of industrial zones with investment projects in the electronics industry with a scale starting from 20 million USD.
During the first half of 2020, Vietnam reposted 22 commodities with export turnover of over 1 billion USD, making up 86.2 percent of the total, according to the Ministry of Industry and Trade.
Mobile phones and spare parts continued leading the group of seven top hard currency earners that recorded over one billion USD in export turnover in the first two months of 2020.
