Vietnamese exports of mobile devices and components gained $30 billion during the pandemic

According to the General Department of Vietnam Customs, Vietnam's exports of mobile devices and components in July hit $4.72 billion, a rise of 43.4 per cent on-month and 10.3 per cent on-year.

In the first seven months of the year, exports of mobile devices and components increased by 13.5 per cent on-year to $29.78 billion, making up 16 per cent of the country's total export turnover.

China was the biggest export market of these items. Only in July, Vietnam-based exporters gained $1.04 billion from trading with the Chinese market, a rise of 49.7 per cent on-month and 140 per cent on-year. In the first seven months of 2021, the total turnover of mobile devices and components to China was about $6.57 billion, a rise of 58 per cent on-year and worth 22 per cent of the total export turnover of the sector.

The US was the second-largest export market with nearly $900 million in value in July, an increase of 50.8 per cent on-month. In the first seven months, the US imported $5.2 billion of these items from Vietnam, an increase of 4.1 per cent on-year. Meanwhile, Vietnam's export turnover of these items was $4.84 billion to the EU, down 16.7 per cent on-year, and $2.59 billion to South Korea, down 12.2 per cent.

Generally, export turnover in the first seven months rose against the corresponding period last year in most markets, including a soar of 60.87 per cent in Hong Kong, 105.3 per cent in Chile, 154 per cent in Argentina, and 48.13 per cent in the United Arab Emirates.

Vietnam also imported $1.68 billion worth of mobile devices and components in July, an increase of 16.8 per cent on-month. In the first seven months, the import turnover of these items was $10.71 billion, a rise of 49.8 per cent on-year.

China and South Korea were the two main import markets for Vietnam with a combined vale of nearly $9.8 billion, making up 90.2 per cent of the total import turnover.

Source: VIR