Vietnam's IT and electronics sector reaching $70 billion in export turnover

September 30, 2022 | 18:04

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Vietnam raked in approximately $77 billion from the export of phones, computers, electronic products, and spare parts during the past eight months of the year, according to the information published by the Ministry of Industry and Trade.

Vietnam acquires $70 billion in export turnover in IT revenues

The four major importers of computers, phones, and components include the US, the EU, China, and South Korea, grossing a total turnover of approximately $27 billion throughout the reviewed period.

In the first eight months, all major markets increased their imports of products from the Vietnamese market. Notably, the export turnover to the US was $9.25 billion, China with $8.97 billion, and South Korea $3.88 billion, signifying increases of 48, 11, and 23 per cent, respectively.

Regarding the EU, despite the export turnover to this market dropping by 5 per cent on-year to $4.61 billion, it still stands in the top four of the largest export markets for computers, phones, and components.

The four major importers of computers, phones, and components include the US, the EU, China, and South Korea, grossing a total turnover of approximately $27 billion throughout the reviewed period.

In recent years, Vietnam attracted global electronic firms to the production of phones, computers, and electronic components, including Samsung, LG, Foxconn, Fukang Technology, and LG Display Haiphong.

Despite many difficulties, Samsung's export turnover in the first eight months reached $46 billion, up 12 per cent over the same period last year. The group aims to complete the target of $68 billion for the whole year. In 2021, Samsung’s export turnover reached $65.5 billion, accounting for 20 per cent of Vietnam's total export turnover.

Besides this, although there have not been updated figures for the first eight months, the export turnover of Foxconn, Luxshare, Winston, Pegatron, and Goertek in the first quarter exceeded $27 billion.

Nine items reached export turnover of over 1 billion USD in first 2 months

In Jan-February, there were nine export commodities recording turnover of at least 1 billion USD, accounting for 71.6 percent of the total export value.

Coffee export turnover exceeds 2 billion USD in five months

Vietnam shipped 889,000 tonnes of coffee overseas for more than 2 billion USD in the first five months of 2022, up 24.2 and 54 percent year on year, respectively.

Seafood export turnover expected to surpass $10 billion

Based on the positive results in the first five months, seafood export turnover is expected to surpass $10 billion this year for the first time.

Five-month fruit and vegetable export turnover reaches 1.4 billion USD

Vietnam’s fruit and vegetable export turnover hit 1.4 billion USD in the first five months of this year, down 17 percent compared to the same period last year, according to the Ministry of Agriculture and Rural Development (MARD).

By Oanh Nguyen

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