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According to preliminary statistics from the General Department of Vietnam Customs, exports of telephones and components continued to rank second among Vietnam’s export commodities in the first nine months of the year, earning nearly US$42 billion, up 7.2% over the same period last year.
In September alone, exports of telephones and components reached nearly US$4.62 billion, down 1.7% compared to August 2024.
In terms of market, China continues to be Vietnam’s largest export market, with over US$10.8 billion, down 1.4% over the same period last year, accounting for 26% of Vietnam’s total export turnover.
The US ranked second with a turnover of over US$8.02 billion, up 29% over the same period last year, accounting for 19.2%.
South Korea was Vietnam’s third largest export market for telephones and components, reaching over US$2.6 billion, down 0.6% over the same period in 2023, and accounting for 6.4%.
Overall, exports of telephones and components to most key markets in the first nine months of 2024 increased compared to the same period in 2023. Previously, in 2023, the export turnover of telephones of all kinds and components exceeded US$52.3 billion, down 9.7% compared to 2022, and was also the second largest export commodity of Vietnam, only after computers, electronic products and components.
Not only is it Vietnam’s second largest export commodity, telephones and components have also made Vietnam a country with a high ranking in the world. Currently, Vietnam ranks second in the export of wireless telephones (surpassing India and only after China), fifth in the world in the export of computers…
The Ministry of Industry and Trade evaluates that the development of Vietnam’s electronics industry in the past time is mainly due to attracting large investments from multinational corporations such as South Korea, Japan… With deep integration into the global economy, Vietnam is becoming a destination for many companies producing electrical and electronic products in the world, thereby, the export turnover of telephones and components will create a record revenue in the coming years.
Our country is also attracting big players in the telephone and component industry, one of which is Apple. Accordingly, there are currently 25 suppliers of this group that have set up factories in provinces and cities of Vietnam. According to DigiTimes, Vietnam is able to produce 20% of iPads and Apple Watches, 5% of MacBooks and 65% of AirPods by 2025.
According to a forecast by Statista Market Research, the smartphone market in Vietnam in 2024 is expected to reach US$4 billion, with a compound growth rate of 1.45% from 2024 – 2028.
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