Mobile devices and components produced in Vietnam last year were exported to 50 markets and reached the export value of more than $51.18 billion, according to the latest data published by the General Department of Vietnam Customs.
In comparison with 2019, export value was slightly down 0.4 per cent. Nevertheless, it is still one of the Vietnamese economy’s main sectors by occupying nearly one-fifth (18 per cent) of the export value.
China remained the largest consumption market for the goods category with $12.34 billion, making up 24 per cent of Vietnam’s export turnover from mobile phones, and up 48.8 per cent on-year. Europe was the second-largest export market with a turnover of $9.9 billion, up 18.9 per cent on-year.
The runners-up were the US, South Korea, and the United Arab Emirates with $8.79 billion, $4.58 billion, and $2.53 billion. In addition to China, other markets like Hong Kong, Canada, and Japan last year increased their purchasing of mobile devices and components from Vietnam by 44.14 per cent to $1.73 billion, 34.3 per cent to $826.23 million, and 16.5 per cent to $937.75 million, respectively.
2020 is the first year Vietnam has seen a plunge in the export turnover of mobile devices and components. Over the previous 10 years, the sector has been going from record to record, even recording triple-digit growth in a few years like in 2011 when it hit 178.3 per cent.
Thanks to that, mobile devices and components exceeded garment and footwear production to become the sector with the largest export value for Vietnam, mainly driven by foreign-invested enterprises, lead by Samsung. To date, about 60 per cent of the South Korean giant’s items are produced in Vietnam.