Total export turnover posted by the electronics industry in the first nine months of 2021 was the second-highest among Vietnam’s key export items and is expected to continue to grow in the time to come.
One of 31 items with export turnover of over $1 billion in the period, turnover of electronic products, computers, and components was $36.4 billion, up 13.1 per cent compared to the same period last year and accounting for 15.1 per cent of the total, according to the General Statistics Office of Vietnam (GSO).
The electronics industry will continue to grow strongly due to rising consumer demand amid the pandemic, according to a forecast from the Ministry of Industry and Trade (MoIT). The industry’s growth will also contribute significantly to Vietnam’s recovery process and 2021 growth targets.
Electronic products, computers, and components fully exploited traditional export markets and developed new markets. Exports primarily went to China, the US, ASEAN, Japan, South Korea, the Netherlands, Germany, Czech Republic, and Poland.
Experts said that the wave of FDI into Vietnam’s technology sector has increased sharply since the pandemic was largely brought under control, and this capital will facilitate export growth in the electronics industry in the years to come.