Vietnam pins high hope on export of phones, components

At a plant of Samsung Electronics in Bac Ninh (Photo: VNA)

Hanoi (VNA) – The export of phones, which contribute annually over 50 billion USD in the last three years, is expected to help Vietnam expand its total export turnover by 6-8 percent in 2022.

Phones and components reported the largest export value the first months of 2022 with 4 billion USD, accounting for 13.8 percent of the country’s total.

Phones are exported to 50 countries and territories worldwide, with China being the biggest importer.

Last year, it recorded a two-digit growth, hitting 58 billion USD, up 12.4 percent compared to 2020.

China and the US were the biggest importers of Vietnam’s phones in the year, spending 15.18 billion USD and 9.69 billion USD, respectively, posting year-on-year surges of 23 percent and 10.3 percent.

According to the Ministry of Industry and Trade (MoIT), the export value of the sector reached 51.37 billion USD, 51.18 billion USD and 57.54 billion USD in 2019, 2020 and 2021, respectively. If its growth is maintained as the figure last year, the sector can contribute nearly 7 billion USD to the country’s total export.

Notably, Vietnam’s completely built-up phones were mainly exported to the European Union and the US markets, accounting for 58 percent of the export turnover of this item.

Foreign-invested firms are the main contributors to the export of phones and components, making up 98.2 percent of the total, reporting values of 50 billion USD and 56 billion USD in 2020 and 2021.

Samsung Electronics under Samsung Corporation of the Republic of Korea is the largest manufacturer of phones and electronics in Vietnam, with its plants in Thai Nguyen and Bac Ninh being the largest and most modern assembling and manufacturing facilities of the firm globally.

Last year, the firm’s revenue and export turnover respectively hit 74.2 billion USD and 65.5 billion USD, up 14 percent and 16 percent from 2020./.

VNA