According to statistics from the General Department of Customs, the import of phones of all kinds and components to Vietnam in December reached over $727 million, a decrease of 19.8% compared to the previous month. In total for the year 2023, our country spent over $8.7 billion on importing phones and components, a decrease of 58.6% compared to 2022.
Phone production at Samsung Vietnam factory
In terms of the market, the import of phones and components to Vietnam in 2023 saw a change in the largest supplier.
Accordingly, while in 2022, South Korea was the largest supplier with over $11.4 billion, equivalent to over 54% market share, and China ranked second with over $8 billion, equivalent to over 38% market share, in 2023, the neighboring country witnessed a strong change.
By the end of 2023, China was the largest market for supplying phones and components to Vietnam, reaching a value of over $7.2 billion, accounting for 83% market share, but a 10% decrease compared to 2022.
Meanwhile, the value of importing phones and components from South Korea decreased sharply by 95% to just over $523 million, accounting for only 6%.
In addition to South Korea and China, phones and components are also imported to Vietnam from other countries and territories such as Hong Kong (China) with over $21 million, Taiwan (China) with over $11.8 million, and the United States with over $9.8 million.
The main reason for the decrease in the import of phones and components is weak domestic consumption, while phone and component export orders also decreased significantly.
According to the General Department of Customs, in 2023, Vietnam imported goods from China reached $110.63 billion, accounting for 33.9% of the country’s total import turnover, a decrease of 6.1% compared to 2022.
In 2023, there were up to 17 groups of goods imported from China with a turnover of over $1 billion; among them, 2 groups of goods reached tens of billions of dollars: Computers, electronic products, and components reaching $23.4 billion; machinery, equipment, tools, and spare parts reaching $22.5 billion.
In contrast, the export turnover to the Chinese market reached $60.7 billion, an increase of 5.3% compared to 2022 and accounting for 17.1% of the country’s export turnover. In the context of global and domestic trade facing many difficulties last year, export growth to the Chinese market was a bright spot.
With a total import-export turnover of over $171 billion achieved in 2023, China continues to be the largest trading partner of Vietnam, accounting for 25.16% of the country’s total turnover.
