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Thursday,  Jan 18,2018,16:40 (GMT+7)

Phone exports put at US$45 billion

Le Hoang
Wednesday,  Jan 3,2018,23:19 (GMT+7)
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Phone exports put at US$45 billion

Le Hoang

Samsung’s high-end smartphone Galaxy Note 8 is manufactured in Vietnam and exported to many countries - PHOTO: HUNG LE

HCMC – Revenue from export of phones and phone parts in 2017 rose by a staggering 31.4% year-on-year to an all-time high of US$45.1 billion, according to the General Statistics Office.

Outbound sales of phones and phone parts accounted for more than 21% of Vietnam’s total exports last year.
These products contributed greatly to the country’s trade surplus last year. Phone and phone parts imports totaled US$16.2 billion, resulting in a trade surplus of US$28.9 billion.

According to the customs, the EU, China, the United Arab Emirates, South Korea and the U.S. were the main buyers of phones and phone parts from Vietnam.

It is noteworthy that export revenue from phones and phone parts was nearly US$20 billion higher than that from the second and third biggest export earners and higher than those of other export items that brought tens of billions of U.S. dollars. Two groups of goods – textiles/garments, and electronics/computers/accessories – reported export turnover of US$25.9 billion.

Outbound sales of electronics, computers and accessories grew 36.5% versus last year. However, this group of items caused a trade deficit of US$11.6 billion.

According to the General Statistic Office, Vietnam’s foreign trade value amounted to nearly US$425 billion last year, up 21% against 2016. US$213.8 billion of the amount came from exports and US$211.1 billion from imports, up 21% and 20.8% respectively. The country enjoyed a trade surplus of US$2.7 billion thanks to the foreign direct investment (FDI) sector bringing a total trade surplus of a massive US$28.8 billion.

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