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Phone exports reach $3.57 billion in March

Released at: 16:04, 20/04/2016

Phone exports reach $3.57 billion in March

UAE the largest importer during month.

by Luong Nhi

Export turnover of phones and components during March totaled $3.57 billion, bringing total export value in the first quarter to $8.27 billion, up 24.2 per cent year-on-year, according to Vietnam Customs.

The United Arab Emirates was the largest import market, with total import value of $1.12 billion, a 17.3 per cent increase year-on-year.

The US was second with an import value of $1.09 billion, 107 per cent higher, followed by South Korea, with $540 million, representing a three-fold increase.

Total value of imported phones and components in March reached $884.7 million, a 15.8 per cent increase compared to February and bringing the first quarter figure to $2.4 billion.

China continued to be the largest destination of phones and components imported into Vietnam in the first quarter, despite declining 20.7 per cent to $1.5 billion.

South Korea followed, with $771 billion, a 33.9 per cent increase year-on-year.

Import turnover from the two countries accounted for 94.8 per cent of the total.

Regarding computers and electronic items, Vietnam’s export value reached $1.42 billion in March, a 36.3 per cent increase compared to February. The first quarter figure therefore came in at $3.73 billion, a 4.9 per cent increase year-on-year.

The EU remained the largest importer in March, worth $921 million, up 21 per cent. China imported $612 million worth, a 10.6 per cent increase, while South Korea imported $275 million worth, double the number in March last year. Japan, meanwhile, imported $133 million worth, an increase of 15.2 per cent.

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