Vietnam’s exports of phones and accessories in 2021 earned a record high of US$57.54 billion, representing an increase of 12.4% year-on-year, according to the General Department of Vietnam Customs (GDVC).

The figure places phones and accessories as Vietnam’s export items with the highest earnings in 2021, while computers, electronics, and parts ranked second with $50.83 billion.

Among key markets for these products, China took the lead with a turnover of $15.18 billion, up 23% year-on-year; followed by the US ($9.59 billion), up 10.3%; and the EU ($7.89 billion), down 9.1%.

The GDVC noted a significant improvement in Vietnam’s phones exports that have been on a steady rise from a modest $2.3 billion in 2010 to nearly $58 billion in 2021, or a 25-fold increase.

At present, Samsung is Vietnam’s largest electronics and phones producer. Despite the severe Covid-19 impacts on the global economy and that of Vietnam, the local phones and electronics production industries have been performing positively and contributed a significant part to the overall economic growth, estimated at around 18.1% of the GDP.

In 2021, Vietnam saw eight groups of export products with a turnover of over $10 billion, including smartphones and parts ($57.54 billion); electronics and computers ($50.83 billion); garment ($32.35 billion); machinery and equipment ($17.75 billion); footwear (17.75 billion); wood and wooden products ($14.81 billion); steel ($11.8 billion); vehicles and parts ($10.62 billion).

Vietnam’s trade turnover in 2021 was estimated at $668.55 billion, or an increase of 22.6% year-on-year, of which exports stood at $336.31 billion, up 19%, and imports of 332.23 billion, up 26.5%.

Source: https://hanoitimes.vn/made-in-vietnam-phones-post-record-export-turnover-of-us58-billion-in-2021-319845.html