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Wednesday, June 19, 2024

Computers lead in export revenue in year to mid-June

The Saigon Times

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HCMC – Vietnam’s export revenue from computers, electronic products, and components had reached US$23 billion as of June 15, making it the highest-earning export category for the country.

For the first five and a half months of this year, computers, electronic products, and components surpassed cellphones and their components in export value by nearly US$1 billion. Cellphone exports decreased by US$5.11 billion, or 18.9%, while exports of computers, electronic products, and components declined by US$1.74 billion, or 7%.

In 2022, exports of computers, electronic products, and components generated revenue of US$55.53 billion, representing a 9.3% increase compared to 2021. This category accounted for 14.96% of the country’s total export revenue.

Among these exports, computer components accounted for the majority, earning US$36.11 billion, followed by electronic products with a total of US$19.42 billion.

The main export products in this category include microprocessors, diode-semiconductors, integrated circuits, screens, computer memories, laptops, tablets, printers, photocopy machines, and components.

Foreign direct investment enterprises accounted for 98.3% of the total export revenue in this commodity group, amounting to over US$54.6 billion.

The major export markets for computers, electronic products, and components are the U.S., China, the EU, Hong Kong, ASEAN, and South Korea. Exports to these markets reached US$46.82 billion, accounting for more than 84% of the total export revenue in this commodity group.

In recent years, many leading electronic businesses such as Samsung, LG, Foxconn, Fukang Technology, and LG have invested in building high-tech electronic product manufacturing facilities in Vietnam.

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