Growth in US the highest, while UAE imports the most.
According to the Vietnam Industry and Trade Information Center (VITIC) under the Ministry of Industry and Trade (MoIT), export turnover for mobile phones and components to the US recorded the highest increase among export destinations in the first ten months of the year, rising 143.29 per cent with a value of $1.1 billion.
Export turnover of mobile phones and components reached a total of $19.48 billion in the first ten months, an increase of 8.6 per cent compared to the same period last year. The biggest importer was the UAE, with $3.12 billion, increasing 5.6 per cent year-on-year and accounting for 16 per cent of the total. Following were Austria, with export revenue of $1.45 billion, increasing 12.83 per cent, and Germany, with $1.11 billion, down 17.61 per cent.
VITIC also pointed out that a number of markets are seeing strong growth in importing Vietnamese mobile phones and components, including Indonesia, Turkey, South Korea, Saudi Arabia, Colombia and Japan, with increases of 40.32 per cent, 55.33 per cent, 69.52 per cent, 127.71 per cent, 131.59 per cent and 139.18 per cent, respectively.
However, export turnover fell in several markets, including Slovakia, Cambodia, the UK, Malaysia, India and Singapore, with declines of 45.04 per cent, 78.76 per cent, 18.6 per cent, 25.66 per cent, 10.46 per cent and 11.38 per cent, respectively, year-on-year.
Notably, the growth in exports of mobile phones and components is mostly thanks to foreign direct investment. In 2013 export turnover stood at $21.5 billion, of which Samsung accounted for $20 million.