Revenue from IT industry reaches 110.7 billion USD in 10 months

Illustrative image (Source: VNA)

Hanoi (VNA) – Vietnam earned over 2.56 quadrillion VND (110.7 billion USD) in revenue from the IT industry in the first 10 months of 2021, up 9 percent from the same period last year, data from the Ministry of Information and Communications (MIC) showed.

Of the figure, 11 percent or 292 trillion VND was generated by Vietnamese enterprises, the MIC said, adding the third quarter's revenue was 26.8 percent higher than the previous  quarter.

The electronics and hardware sector contributed nearly 90 percent of total revenue, or 2.27 quadrillion VND (98.1 billion USD). The sector exported 88.3 billion USD worth of products, equivalent to 32.5 percent of the nation’s total export turnover.

Revenue from the cybersecurity sector rose by 8 percent to exceed 1.53 trillion VND during the period, according to the ministry.

Due to impacts of the prolonged COVID-19 pandemic, revenue of postal companies declined to 7.5 trillion VND in Q3.

Total revenue from telecommunication services edged up just 0.09 percent year-on-year in October, with the number of smartphone users reaching 91.71 million, accounting for 74.1 percent of total subscribers and 10.4 percent higher than a year earlier./.

VNA