Vietnam has huge export space for electronic products

In the first October of 2021, among the 31 categories of goods with exports exceeding $1 billion, computers, electronic products, and components reached $41.16 billion, an increase of 13% compared to the same period in 2020. The export value of mobile phones and components reached 46.22 billion US dollars, an increase of 9.6%. The above data clearly reflects the position of the electronics industry in export activities.

In the first October of 2021, among the 31 categories of goods with exports exceeding $1 billion, computers, electronic products, and components reached $41.16 billion, an increase of 13% compared to the same period in 2020. The export value of mobile phones and components reached 46.22 billion US dollars, an increase of 9.6%. The above data clearly reflects the position of the electronics industry in export activities.

Product structure is improving

The Ministry of Industry and Trade stated that the electronics industry is a key manufacturing industry in the economy and has a strong spillover effect on other industries. During the period from 2016 to 2020, exports of electronics, computers, and components increased by an average of 23.8%. This result has raised Vietnam's electronic exports from 47th place in 2001 to 12th place in the world, and ASEAN ranks third.

In 2020, although the economy will be greatly affected by the COVID-19, such commodities will still achieve rapid and stable growth. The export volume of electronic products continued to grow significantly, reaching 44.6 billion US dollars, an increase of 22.8% compared to 2019, accounting for 15.8% of the total export volume; Exceeding exports of textiles and clothing in terms of amount, growth rate, and share.

It is worth noting that there have been significant changes in the export structure of computers, electronic products, and components between 2016 and 2020. In 2016, the export of components and semi-finished products accounted for a relatively large proportion, reaching 65.7%. By 2020, the proportion of exports in electronics, computers, and components decreased to 59.9%. The report shows that the export structure has improved in the positive direction of the Industrial Revolution 4.0, and Vietnamese goods have become more deeply involved in the global supply chain, improving industry productivity. The export structure of electronic products has undergone positive changes, with an increase in the proportion of complete or semi-finished products.

Especially in 2020, the export value of complete machines and semi-finished products accounted for 52% of the total export value of computers, electronic products, and components, while in the field of mobile phones, it accounted for 70%. Among them, the proportion of tablets, computer accessories, televisions, office equipment, and mobile phones is constantly increasing.

Predict a year of strong growth

According to the evaluation of the Vietnamese Ministry of Industry and Trade, the fields of computer, electronic products, and components in Vietnam have effectively expanded into traditional markets and are constantly seeking and developing new markets. Vietnam exports computer products and electronic components to more than 100 markets worldwide, mainly to markets such as China, the United States, ASEAN, Japan, South Korea, and strong exports to EU markets such as the Netherlands, Germany, the Czech Republic, Poland, and Finland. In addition, exports to countries such as Hungary, Poland, the Czech Republic, and Slovakia are also continuously increasing. Especially, we will focus on exploring new potential export markets such as Africa, Latin America, the Middle East, and India, and strive to create breakthroughs.

The Ministry of Industry and Trade stated that the electronics industry will continue to grow strongly in 2021 due to the impact of the epidemic and the significant increase in consumer demand for communication products and work tools despite the implementation of social distancing. In addition, the epidemic has also led to the closure of some computer and electronic manufacturing companies worldwide.

It is expected that the export value of computers, components, and electronic products will reach around 50 billion US dollars in the entire year of 2021, an increase of 13.5% compared to 2020. They are all positive signals, indicating the growth of the industry, thus making a significant contribution to the economic recovery process and achieving Vietnam's 2021 growth goals. In the first October of 2021, among the 31 categories of goods with exports exceeding $1 billion, computers, electronic products, and components reached $41.16 billion, an increase of 13% compared to the same period in 2020. The export value of mobile phones and components reached 46.22 billion US dollars, an increase of 9.6%. The above data clearly reflects the position of the electronics industry in export activities.

Product structure is improving

The Ministry of Industry and Trade stated that the electronics industry is a key manufacturing industry in the economy and has a strong spillover effect on other industries. During the period from 2016 to 2020, exports of electronics, computers, and components increased by an average of 23.8%. This result has raised Vietnam's electronic exports from 47th place in 2001 to 12th place in the world, and ASEAN ranks third.

In 2020, although the economy will be greatly affected by the COVID-19, such commodities will still achieve rapid and stable growth. The export volume of electronic products continued to grow significantly, reaching 44.6 billion US dollars, an increase of 22.8% compared to 2019, accounting for 15.8% of the total export volume; Exceeding exports of textiles and clothing in terms of amount, growth rate, and share.

It is worth noting that there have been significant changes in the export structure of computers, electronic products, and components between 2016 and 2020. In 2016, the export of components and semi-finished products accounted for a relatively large proportion, reaching 65.7%. By 2020, the proportion of exports in electronics, computers, and components decreased to 59.9%. The report shows that the export structure has improved in the positive direction of the Industrial Revolution 4.0, and Vietnamese goods have become more deeply involved in the global supply chain, improving industry productivity. The export structure of electronic products has undergone positive changes, with an increase in the proportion of complete or semi-finished products.

Especially in 2020, the export value of complete machines and semi-finished products accounted for 52% of the total export value of computers, electronic products, and components, while in the field of mobile phones, it accounted for 70%. Among them, the proportion of tablets, computer accessories, televisions, office equipment, and mobile phones is constantly increasing.

Predict a year of strong growth

According to the evaluation of the Vietnamese Ministry of Industry and Trade, the fields of computer, electronic products, and components in Vietnam have effectively expanded into traditional markets and are constantly seeking and developing new markets. Vietnam exports computer products and electronic components to more than 100 markets worldwide, mainly to markets such as China, the United States, ASEAN, Japan, South Korea, and strong exports to EU markets such as the Netherlands, Germany, the Czech Republic, Poland, and Finland. In addition, exports to countries such as Hungary, Poland, the Czech Republic, and Slovakia are also continuously increasing. Especially, we will focus on exploring new potential export markets such as Africa, Latin America, the Middle East, and India, and strive to create breakthroughs.

The Ministry of Industry and Trade stated that the electronics industry will continue to grow strongly in 2021 due to the impact of the epidemic and the significant increase in consumer demand for communication products and work tools despite the implementation of social distancing. In addition, the epidemic has also led to the closure of some computer and electronic manufacturing companies worldwide.

It is expected that the export value of computers, components, and electronic products will reach around 50 billion US dollars in the entire year of 2021, an increase of 13.5% compared to 2020. They are all positive signals, indicating the growth of the industry, thus making a significant contribution to the economic recovery process and achieving Vietnam's 2021 growth goals. (End)