Computers and electronics surpass textiles with exports of $US 8.4 billion

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With a continuously high growth rate in export value, computers, electronic products and components have surpassed textiles and garments to become the second largest export commodity group in Vietnam.

Computers and electronics surpass textiles with exports of $US 8.4 billion.

This is very noticeable information related to export activities of Vietnam, which has just been informed by the General Department of Vietnam Customs.

Based on the data of Customs, by 15th May 2017, exports of computers, electronic products and components reached $US 8.4 billion, an increase of $US 2.8 billion, equivalent to an increase of 50% over the same period in 2016.

The above result has helped this commodity group have a spectacular breakthrough over textiles (at the same time reaching $US 8.27 billion) to become the country's second largest export commodity after telephones and accessories. And this commodity group has been considered to be one of the few major export groups of Vietnam achieving a high growth rate recently.

However, according to our understandings, the export turnover of this commodity group almost belongs to FDI enterprises.

Speaking to a reporter of the Customs Newspaper, a leader of the Division of Customs Statistics (under the Department of Customs Information and Statistics, the General Department of Vietnam Customs) said that the main export product in this commodity group was the Samsung Group's tablet ( produced in factories in Bac Ninh and Thai Nguyen)

Related to optimistic signals in export activities, from 15th May 2017, a reporter of the Customs Newspaper has contacted to exchange information with Vietnam Electronics Industries Association (VEIA), but until 19th May 2017, the Customs Newspaper has not received feedback from the Association.

A member of VEIA's Office said that because the Association's leaders were focusing on the shareholders' meeting, so they could not respond to the Customs Newspaper soon. "Computers are exported mainly by FDI enterprises, and domestic enterprises mainly export components, but turnover is not really high", he said.

Regarding export markets of computers, electronic products and components, according to the latest information of the General Department of Vietnam Customs (by the end of April 2017), the export market of the commodity group had been diverse in countries and regions in the world.

In particular, China is the largest market with a turnover of $US 1.792 billion. In addition, by the end of April 2017, there had been 10 other markets with a turnover of $US 100 million or more. Some noticeable markets include the United States with a turnover of $US 817 million; the Netherlands with a turnover of $US 611 million; the South Korea with a turnover of $US 568 million; and Hong Kong with a turnover of $US 523 million.

By Thai Binh/ Hoang Anh - Customs News