Mobile phones and components now a major driver of Vietnam's export growth.
Mobile phone and component exports reached $20.18 billion in the first eight months of this year, up 32.6 per cent against the same period in 2014, according to the latest figures from the General Department of Vietnam Customs.
Mobile phones and components is now a major contributor to export growth in Vietnam, primarily by foreign direct investment enterprises, which exported $20.12 billion of the total in the period.
The EU was the largest market for Vietnam’s mobile phones and components in the first eight months, with $6.7 billion, up 22.3 per cent and accounting for 33.2 per cent of the total. Following was the UAE, with import value of $3.17 billion, up 23 per cent, the US with $1.78 billion, an increase of 109.5 per cent, and Germany with $1.2 billion, up 42.2 per cent.
Exports of mobile phones and components in August were estimated at $3.02 billion, 19.1 per cent higher than in July.
Computers, electronic products and components also recorded high export value. Vietnam exported computers, electronic products and components valued at an estimated $1.42 billion in August, up 16.7 per cent against July, while the figure in the first eight months reached $9.99 billion.
Exports to the EU totaled $1.97 billion, up 57.9 per cent, to the US $1.74 billion, up 60.2 per cent, and to China $1.72 billion, a 31.3 per cent increase.