Business

Electronics lead Vietnam’s trade, with China the largest supplier

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

In the first eight months, imports of computers, electronic products and parts totalled nearly $96 billion, rising 38.2% year-on-year. (Photo: VNA)
In the first eight months, imports of computers, electronic products and parts totalled nearly $96 billion, rising 38.2% year-on-year. (Photo: VNA)

Hanoi (VNS/VNA) - Computers, electronic products and components continued to dominate Vietnam’s trade in August, both in exports and imports, according to the Department of Customs under the Ministry of Finance.

Imports in this category reached 14.13 billion USD in August, up 2.1% from July. Over the first eight months, imports totalled nearly 96 billion USD, a year-on-year increase of 38.2%, accounting for almost 32% of the country’s total import value.

China remained the largest supplier with 33.5 billion USD, up 47.5%. Other major sources were the Republic of Korea (24.1 billion USD, up 16.9%), Taiwan (nearly 15 billion USD, up 72.9%) and Japan (5.4 billion USD, up 11.7%).

On the export side, computers, electronics and components brought in 10.2 billion USD in August. In the first eight months, exports in this group reached nearly 67 billion USD, up 43.1%, accounting for 22% of Vietnam’s total exports.

The US remained the largest buyer, with 26.1 billion USD, up 67.7%. China followed with 11.02 billion USD, up 38.6%, while Hong Kong and the EU also recorded strong growth.

Phones and components showed only modest growth, with exports reaching 5.7 billion USD in August and 38.2 billion USD in the first eight months, up just 2.4%. Imports in this group were close to 7 billion USD, an increase of 18.8%.

Overall, 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./.

VNA
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