Vietnam pins high hope on export of phones, components

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 in the first months this year 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 brought home 58 billion USD, up 12.4 percent year-on-year.

China and the US were the biggest importers of Vietnam’s phones in the year, spending over 15 billion USD and nearly 9.7 billion USD, respectively, posting year-on-year surges of 23 percent and 10 percent.

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 country’s export of phones and components./.

VNA