The information and communications technology (ICT) sector earned revenue of over VND 325.5 trillion ($13.6 billion) in March, a 30 per cent increase compared to February, figures from the Ministry of Information and Communications show.

The result brought total turnover in the first quarter to more than VND845.5 trillion ($35.3 billion), a 3 per cent decline year-on-year.

This included $26.6 billion from exporting hardware and electronics, a year-on-year fall of 9.5 per cent, primarily due to global economic recession resulting in a decline in exports.

The sector’s contribution to the State budget totaled more than VND24.4 trillion ($1.02 billion) in the opening quarter, up 9 per cent year-on-year.

It posted revenue of $148 billion in 2022, a 8.7 per cent increase against 2021.