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EU – the leading importer of Vietnam mobile phones and electronics PDF Print
Tuesday, 22 March 2016 17:12

VIETRADE - According to statistics of General Department of Vietnam Customs, in the first two months of 2016, EU was the biggest importer of mobile phones of all kinds and accessories product group and computers, electronics and spare parts product group from Vietnam.

 

General Department of Vietnam Customs provided information that export revenue of mobile phones of all kinds and accessories product group in Feb 2016 achieved 2.44 billion USD, an increase by 7.6% in comparison to the first month of 2016. By end of Feb 2016, all country’s export of this product group reached 4.71 billion USD, an increase by 13% in comparison to the same period in 2015.

 

The biggest importer of mobile phones of all kinds and accessories product group from Vietnam in the first two months wasEU with 1.51 billion USD, an increase by 10.8% and accounting for 32.1% of all country’s export value of this product group. 

 

Following was United Arab Emirates with 639 million USD, a drop by 5.1%; the US 547 million USD, a rise by 1.92 times;  Korea nearly 295 million USD, an  increase by 5.86 times in comparison to the same period in 2015.

 

General Department of Vietnam Customs also confirmed that the other technology product group which gained significant export revenue in the first two months of the year was computers, electronics and spare parts group.

 

In regard to the product group of computers, electronics and spare parts, its export value in Feb 2016 reached 1.05 billion USD, a decrease by 16.4% in comparison to the previous month. This added up the total export value of this group in the first two months of the year to 2.31 billion USD, an increase by 4.4% in comparison to the same period last year.

 

The same as mobile phones, EU continued to be the greatest importer of computers, electronics and spare parts product group from Vietnam in the first two months with 608 million USD, following was China with 338 million USD; the US with 329 million USD; Netherlands with 283 million USD …

 

Such hi-tech equipment and technology products greatly contributed to the current total export revenue of Vietnam.  However, the contribution was mainly originated from foreign investment projects with limited participation of 100% state owned companies. The remarkable export achievement of computers of all kinds and accessories product group was an example. Almost no participation of state owned enterprises could be seen but it was mainly contributed by 4 mobile phone production clusters of Foreign Direct Investment companies including Samsung with Bac Ninh and Thai Nguyen clusters, Microsoft with Bac Ninh cluster, LG with Hai Phong cluster and accessories suppliers with factories built to supply those clusters.

 

Given the rising investment of technology groups, analysts believe that export revenue of computers of all kinds and accessories product group of Vietnam will continue to surge in the coming period.

 

Despite of high export revenue, imports of mobile phones of all kinds and accessories as well as computers, electronics and spare parts were also remarkable.

 

In Feb 2016, import of computers of all kinds and accessories achieved 764 million USD, an increase by 2.6% in comparison to the previous month which increased import revenue of this group in the first two months of the year to 1.5 billion USD, a decline by 6.6% in comparison to the same period last year.

Also in the first two months of the year, import revenue of computers, electronics and spare parts reached 1.92 billion USD, a drop by 2.4% in comparison to the previous month which increased import revenue of this group in the first two months of the year to 3.9 billion USD, a climb by 9.2% in comparison to the same period in 2015. So this group experienced trade deficit of 1.59 billion USD only in the first two months of the year.

 

According to experts, until now Vietnam electronic industry imported about 90% of its spare parts and accessories.  Almost all local and FDI electronic enterprises can hardly find high-value spare parts and accessories at domestic market.

 

The development of local support industry, restriction in processing and assembly and strict control of imports are required so as to prevent the increasing trade deficit of computers, electronics and spare parts. This will help to create employment opportunities, ensure the spread of modern techniques - technologies as well as to increase market share of domestic economic sector.



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