Vietnam’s electronics exports up 20% YoY in 8m

Vietnam’s electronics exports have reached $77.4 billion as of August 15, marking a 20 per cent increase compared to the same period last year, according to the General Department of Vietnam Customs.

The sector has shown a robust recovery with double-digit growth over the past seven and a half months. It is projected to achieve between $130 and $132 billion in exports by the end of 2024, as reported by the Vietnam News Agency on Thursday.

Exports of computers, electronic products, and components totaled $42.59 billion, while phones and components generated $33.8 billion.

These figures represent a 30 per cent increase for computers and an 11 per cent rise for phones compared to the previous year.

Significant investments from major electronics companies have rapidly expanded Vietnam’s share of the global smartphone market to 13 per cent, making it the second largest after China.

Attribution: Xinhua

Subediting: M. S. Salama