Export of hi-tech products surges
Vietnam’s export of phones and
components in the first seven months of 2013 increased 85.7 percent
year-on-year to 11.55 billion USD.
Vietnam’s export of phones and
components in the first seven months of 2013 increased 85.7 percent
year-on-year to 11.55 billion USD.
Last year, the export of mobile phones and components also brought home 12.7 billion USD. Main importers were the EU, United Arab Emirates and India with turnover of 4.68 billion USD, 1.93 billion USD and 572 million USD, respectively.
According to statistics released by the Ministry of Industry and Trade, growth was also seen in the export of other technological commodities to all foreign markets so far this year.
Vietnam only began to export electronic goods about 10 years ago, but now the country’s products have been shipped to nearly 50 markets worldwide.
In the 1997-2012 period, the export of computers, electronic products and parts experienced an annually rise of 21.2 percent on average, from 440 million USD in 1997 to over 7.8 billion USD in 2012.
China was the main importer of Vietnamese-made computers, electronic products and parts with 1.33 billion USD, followed by the EU (1.23 billion USD), the US (749 million USD) and Malaysia (631 million USD).
The sector is striving for 40 billion USD in electronics and mobile phone export by 2017.
Over the past years, Vietnam has attracted a lot of big foreign-invested projects worth tens of billions of USD in the field with the participation of global names like Samsung, Intel Corp., and Taiwan (China)’s Foxconn and Compal Electronics.
Just last month, Samsung Electronics Vietnam announced a 2 billion USD project to build a plant manufacturing and assembling electronic goods in Thai Nguyen province. The company also increased investment in its project in Bac Ninh province to 1 billion USD.
However, the country’s electronics sector is facing big challenges as foreign-invested enterprises account for up to 90 percent of the sector’s total export turnover. At the same time, they control 80 percent of the domestic market.
Experts have urged domestic companies to increase their production capacity and shift from processing and assembling to manufacturing.-VNA
Last year, the export of mobile phones and components also brought home 12.7 billion USD. Main importers were the EU, United Arab Emirates and India with turnover of 4.68 billion USD, 1.93 billion USD and 572 million USD, respectively.
According to statistics released by the Ministry of Industry and Trade, growth was also seen in the export of other technological commodities to all foreign markets so far this year.
Vietnam only began to export electronic goods about 10 years ago, but now the country’s products have been shipped to nearly 50 markets worldwide.
In the 1997-2012 period, the export of computers, electronic products and parts experienced an annually rise of 21.2 percent on average, from 440 million USD in 1997 to over 7.8 billion USD in 2012.
China was the main importer of Vietnamese-made computers, electronic products and parts with 1.33 billion USD, followed by the EU (1.23 billion USD), the US (749 million USD) and Malaysia (631 million USD).
The sector is striving for 40 billion USD in electronics and mobile phone export by 2017.
Over the past years, Vietnam has attracted a lot of big foreign-invested projects worth tens of billions of USD in the field with the participation of global names like Samsung, Intel Corp., and Taiwan (China)’s Foxconn and Compal Electronics.
Just last month, Samsung Electronics Vietnam announced a 2 billion USD project to build a plant manufacturing and assembling electronic goods in Thai Nguyen province. The company also increased investment in its project in Bac Ninh province to 1 billion USD.
However, the country’s electronics sector is facing big challenges as foreign-invested enterprises account for up to 90 percent of the sector’s total export turnover. At the same time, they control 80 percent of the domestic market.
Experts have urged domestic companies to increase their production capacity and shift from processing and assembling to manufacturing.-VNA
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