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Phone exports to EU see good growth

Summary

Updated on : 01-05-2023

Phone manufacturing of Samsung Vietnam factory

According to the latest preliminary data of the General Department of Customs, the export turnover of phones and components in the first half of April (April 1-15) reached US$1.9 billion, thereby bringing the export value of this group from the beginning of the year to April 15 to US$15.32 billion.

Given the above results, phones and components continue to be the largest export group of Vietnam, accounting for 16.56% of the country’s total export turnover.

Despite maintaining the number one position in export, the turnover of this group dropped by 15% or US$2.71 billion year-on-year.

Regarding the export market (updated at the end of the first quarter), the export of phones and components saw a decrease in most key markets, such as China down 4.5% to US$3.52 billion; the US down 21.2% to US$ 2.34 billion; and South Korea down 42.4% to US$855 million.

In that context, a rare bright spot in the export of this group is the EU market with a turnover of US$2.04 billion, up 14.1% year-on-year.