Vietnam Becomes Second Largest Mobile Phone Exporter Globally

TapTechNews July 3rd news, according to the report of the Vietnam General Statistics Office as reported by the Vietnam Youth Newspaper on June 28th, in the first 5 months of 2024, Vietnam has 4 major types of goods with export amounts exceeding $10 billion.

Among them, the export value of computers, electronic products and components reached $27.01 billion (TapTechNews note: currently about 196.89 billion Chinese yuan), increasing by 31.6% year-on-year; the export of various types of mobile phones and components reached $22.4 billion (currently about 163.286 billion Chinese yuan), increasing by more than 11% year-on-year. Vietnam has surpassed India to become the world's second largest exporter of mobile phones after China and the fifth largest exporter of computers.

The report said that in recent years, the export of computers and components, mobile phones and components in Vietnam has maintained strong growth and has always been at the top of the category of goods with an export value of over one billion US dollars in Vietnam. In 2011, the export of electronic products, computers and components in Vietnam only accounted for 4.8% of the national export volume, doubled to 9.6% in 2015, and has since maintained a proportion of more than 10%, reaching 16.2% in 2023. Currently, the export value of such goods has rapidly risen to more than $57 billion.

The Vietnam Electronic Enterprises Association said that the export of Vietnam's electronics industry has ranked first in the country for nearly 10 consecutive years, accounting for more than 30% of the country's total import and export volume. The Vietnam Ministry of Industry and Trade evaluated that the development of Vietnam's electronics industry in recent years is mainly due to the large amount of investment by multinational companies from South Korea and Japan in the field of electronic component manufacturing.

However, the Ministry of Industry and Trade of Vietnam also said that in order for the entire electronics and components industry, especially the mobile phone industry, to continue to develop, domestic manufacturing enterprises in Vietnam must actively improve their competitiveness and explore development potential with the support of the Ministry of Industry and Trade.