Vietnam enjoyed a strong increase in January-September exports, particularly to China, which raised imports from Vietnam, such as smartphones, computers, electronics and components, according to the latest data from the General Department of Vietnam Customs.

Smartphones displayed at an exhibition in HCMC. Vietnam’s smartphone and parts shipments to China saw a 2.4-fold rise, generating US$5.78 billion in value

The data shows that the export value of smartphones and accessories amounted to US$5.09 billion in September, taking the figure in the nine-month period to a record high of US$36.69 billion, up 16.4% year-on-year.

In the January-September period this year, smartphone and phone components exports to major markets rose strongly. The EU market spent US$10.14 billion on these imports from Vietnam, edging up 10.9% year-on-year. Vietnam’s smartphone and phone parts shipments to China saw a 2.4-fold rise, generating US$5.78 billion in value, while exports of the product group to the United States and South Korea helped Vietnam earn US$4.16 billion and US$3.34 billion, up by 43.7% and 17.1%, respectively.

Based on calculations for each country and territory, China took the lead among Vietnam’s smartphone and components importers.

Regarding computers, electronics and parts, exports of the product group generated US$21.58 billion in value over the past nine months, up 16.3% year-on-year. The Chinese market came first on the list of Vietnam’s computer, electronics and components buyers, according to the General Department of Vietnam Customs. China spent over US$6 billion on the product group, soaring by 28.8% year-on-year, while the EU market imported products worth US$4.05 billion, up 21.1%. The United States spent US$2.07 billion, declining by 14.1%, and South Korea spent US$1.94 billion, soaring by 48.5%, on these products.

During the January-September period, shipments of Vietnamese farm produce, including vegetables, cashew, coffee, rice and rubber, amounted to US$13.63 billion in value, inching up 1.5% year-on-year. The country’s largest farm produce importer was China, which spent US$4.74 billion on products, followed by the United States and Indonesia, with expenditures of US$1.51 billion and US$527 million, respectively.

Besides this, Vietnam exported cameras, camcorders and parts worth US$3.5 billion in January-September, up a staggering 46.9% year-on-year. Among Vietnam’s importers of this product group, China took the lead, spending US$1.8 billion, surging by 49.9% year-on-year. Hong Kong imported products worth US$855 million, up 28.1%, and South Korea’s imports of this product group increased 2.7-fold against the previous year, spending US$263 million.

To date, China has remained Vietnam’s largest trade partner among over 200 countries and territories. Two-way trade between the two countries totaled US$76.07 billion in the nine-month period. Vietnam’s exports to China generated US$28.81 billion in revenue, up 29.9%, while the country spent US$47.26 billion on imports from the Chinese market, up 12.8%. Despite Vietnam’s revenue growth in shipments to China, the country still had a trade deficit of US$18.45 billion with China.

In addition to China, whose imports from Vietnam rose by 29.9% in January-September, South Korea and India also boosted imports from Vietnam, spending US$13.45 billion, up 26.1%, and US$5.18 billion, up a whopping 88.6%, against the same period last year.

Vietnamese product exports over the nine-month period this year to the United States, the European Union and the ASEAN picked up by 13.2% to US$35.02 billion, 10.5% to US$31.2 billion and 14.5% to US$18.3 billion year-on-year, respectively.

Preliminary customs statistics from the department showed that the country’s total value of imports and exports in January-September reached US$352.61 billion, up 13.7%, or US$42.44 billion, year-on-year, exceeding the 2016 value of US$351.38 billion. Of the figure, the export revenue amounted to US$179.47 billion, rising by 15.8%, and the import turnover was US$173.14 billion, growing by 11.6%.

As such, the country's trade surplus hit a record high of US$6.32 billion in January-September.

SGT