Vietnam's import and export of electronic products and spare parts show a growing trend

With the increasing frequency of global economic and trade exchanges, the division of labor and cooperation in the industrial chain is gradually becoming clear. Vietnam's participation in the global industrial chain is becoming deeper and its contribution to the sustainable development of the global supply chain is also increasing. At present, Vietnam has undertaken the transfer of numerous industries from countries and regions such as China, the United States, Japan, South Korea, Singapore, and the European Union, and has developed into one of the global manufacturing and processing industry centers, The processing and manufacturing industries such as electronic product processing, mechanical equipment manufacturing, and automobile assembly are developing rapidly, and the import and export market size of electronic products and spare parts is also increasing.

According to the "2020 2024 Vietnam Electronic Products and Parts Market Deep Research and Analysis Report" released by the New Horizon Industry Research Center, in the electronic products and parts import market, Vietnam mainly imports production materials, electronic computers and parts, mobile phones and parts are the main imported goods. In the first half of 2020, the import volume of electronic computers and parts in Vietnam reached 27 billion US dollars, an increase of 13.3% year-on-year, Accounting for 23.1% of Vietnam's total imports in the first half of the year; The import value of mobile phones and accessories was $6.00 billion, a year-on-year increase of 3.7%. The main sources of import for electronic products and spare parts in Vietnam are China, South Korea, ASEAN countries, and other countries and regions.

In the export market of electronic products and spare parts, Vietnam's main export products are assembled finished products. According to data from the General Administration of Customs of Vietnam, as of October 15, 2020, Vietnam's total exports of computers, electronic products and spare parts were 34.2 billion US dollars, a net increase of 7.00 billion US dollars compared to the same period in 2019. The main export markets are China, the United States, the European Union, and Hong Kong, including computers exported to China The total amount of electronic products and spare parts was 8.35 billion US dollars, a year-on-year increase of 26.9%; Exports to the United States amounted to 7.36 billion US dollars, an increase of 83.2%; Exports to the European Union amounted to 4.57 billion US dollars, a year-on-year increase of 22.1%; Exports to Hong Kong, China amounted to 2.68 billion US dollars, a year-on-year increase of 25.6%.

From the perspective of the import and export of electronic products such as computers, mobile phones, and spare parts in Vietnam, the development of the electronic products and spare parts processing industry in Vietnam is good, and the export market is growing steadily, gradually increasing its position in the global electronic products and spare parts supply chain. However, with Vietnam's electronic products and parts industry mostly being processing and assembly industries, the production of electronic products and parts raw materials still has a high degree of external dependence, and the research and development capabilities of electronic products and parts are weak. In the future, Vietnam's electronic products and parts production and processing industry still needs to continuously upgrade and transform to improve product competitiveness and added value.

According to market analysts from Xinsijie Vietnam, Vietnam is a major country in the production and processing of electronic products and spare parts. The import and export market for electronic products and spare parts is huge. In recent years, Vietnam's total import and export volume of electronic products and spare parts has maintained a growth trend, and its development prospects are increasingly promising. However, in the future, Vietnam's electronic products and spare parts production and processing industry still needs to continuously improve its innovation and research capabilities, and enhance its control ability in the electronic product industry chain, Promote the sustainable development of the electronic products and spare parts industry.