Business

Information & communications services revenue hits 47.6 billion USD

Revenue from information and communications services reached 1.13 quadrillion VND (47.6 billion USD) in the first four months of 2023, representing 27% of the annual target, figures from the Ministry of Information and Communications (MIC) show.
Information & communications services revenue hits 47.6 billion USD ảnh 1Made-in-Vietnam chip produced by Vietnam's FPT corporation, Vietnam ranks third in Asia in terms of semiconductor exports to the US, after Malaysia and Taiwan (China). (Photo courtesy of FPT)
Hanoi (VNS/VNA) - Revenue from information and communications servicesreached 1.13 quadrillion VND (47.6 billion USD) in the first four months of2023, representing 27% of the annual target, figures from the Ministry ofInformation and Communications (MIC) show.

The sector posted turnover of over 313 trillion VND (13.2 billion USD) inApril, up 6% against March but down 1% year-on-year.

Vietnam, along with Thailand, India, and Cambodia, has led a significantincrease in semiconductor chip exports to the US market this year, accountingfor more than 10% of US imported chips for seven consecutive months, accordingto the MIC.

In February 2023, Vietnam's semiconductor chip exports to the US reached 562.5million USD, up from 321.7 million USD in February 2022. Vietnam ranks third inAsia in terms of semiconductor exports to the US, after Malaysia and Taiwan(China).

Vietnam and Thailand are major players in the semiconductor chip manufacturingmarket and have seen their trade with the US increase by 75% and 62%,respectively.

These results confirm the success of the US diversifying its electronics supplychain by shifting manufacturers from traditional markets to emerging markets.

The ministry reports that in April 2023, the industry’s revenue was estimatedto surpass 313 trillion VND, up 6% compared to the previous month. March’srevenue stood at 295 trillion VND or down 1% over the same period last year.

The output of postal service in April was estimated at 175 million parcels withan increase of over 20% over the same period last year. Revenue from postalservice reached 4.65 trillion VND, up 8% over the same period of 2022.

In the field of national digital transformation and digital government, theproportion of online public services was 51.32%, increased by 0.71% over theprevious month with 50.61%.

In the field of digital economy, in March alone, the total number of downloadsof mobile applications in the country stood at 280 million, marking an increaseof 13% against February. Direct revenue from mobile app transactions was 34.8%year-on-year increase./.
VNA
#Ministry of Information and Communications (MIC) #Vietnam's semiconductor chip #chip manufacturing #app transactions #Vietnam #Vietnam news #Vietnam News Agency
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