Computer, Electronic Component Exports May Reach US$50 Bln in 2021

8:52:40 AM | 8/10/2021

Viet Nam’s export turnover of computers, electronic products and spare parts may reach US$ 50 billion in 2021, representing a year-on-year increase of 13.5% despite negative impacts of the COVID-19 pandemic, according to the Ministry of Industry and Trade.

The ministry reported that amidst the pandemic time, a series of Vietnamese exports experienced declines, however, key industries still expanded in July.

Specifically, mobile components saw a sharp increase of 40% and mobile production soared 14.1%. In the January-July period, over 128 million mobiles were made in Viet Nam. 

In the first seven months, Viet Nam earned US$ 29.45 billion from exporting mobiles and spare parts, representing a year-on-year increase of 11.9%. 

The ministry forecasts that the electronic sector would flourish in 2021 thanks to a booming demand for mobiles and computers for employment while social distancing rules are in place due to the pandemic. 

In the first quarter this year, Viet Nam granted new business licenses and permitted capital expansion for large-scale projects, with Hai Phong City awarding investment certificate to LG Display project to increase investment capital by US$ 750 million and Bac Giang province unit of Taiwan’s Foxconn Technology Co Ltd to build a $270 million plant to produce laptops and tablets.

Last year, export turnover of computers, electronic products and components valued US$44.6 billion.

Source: VGP