Electronic Component Sales Keep Climbing

11:35:50 AM | 11/19/2019

In recent years, electronic parts manufacturing has outstripped apparels and tea to become the highest-growing industry and the biggest export of Vinh Phuc province.

According to the Department of Industry and Trade, Vinh Phuc province had over 120 electronic parts manufacturers by the end of October 2019. Actively seeking and developing markets, building the trust of partners and customers, their sales kept growing.

Electronic component revenue reached approximately VND78 trillion in the first 10 months of 2019, up 46.2% over the same period of 2018 - the highest growth rate among industries. This rate is 18.7% higher than the growth of electrical equipment sector, 19.6% higher than the metal industry and 26.3% higher than nonmetallic minerals production sector.

Since 2016, electronic component sales have kept growing, from VND22,614 billion in 2016 to VND46,322 billion in 2017 and VND67,946 billion in 2018. Electronic components have become a key industrial product, boosting the overall industrial growth and the export electronic parts value of Vinh Phuc province. This sector is largely led by foreign-invested enterprises.