Due to impressive growth, electronic goods, computers and their parts have surpassed textile and apparel to become Viet Nam’s second largest group of goods for exportation since 2019.
Statistics of the General Statistics Office show that, in 2010, the group of electronic goods, computers and components only reached 3.6 billion USD, accounting for 5% of the total export turnover (textiles and garments reached 11.2 billion USD, accounting for 15.5%). During the period 2010 to 2020, the group of electronic goods, computers and their parts continuously achieved a high growth rate. The growth rates in turn are: 2011 rose up 29.9%; in 2012 increased by 68.4%; in 2013 went up 35.5%; in 2014, it increased by 7.5%; in 2015 jumped up 36.5%; in 2016 increased by 21.5%; in 2017 grew by 38.6%; in 2018 rose up 12.5%; in 2019, it increased by 22.8%; in 2020, it is estimated to increase by 22.8%. On average, the 2011-2020 period increased by 28.6%.
In 2019, the export value of electronic goods, computers and their parts reached 36.3 billion USD, officially surpassing textiles and garments (export value reached 32.8 billion USD) to become second largest export commodity of Viet Nam. By 2020, although the economy is strongly influenced by the Covid-19 pandemic, this commodity group still has a high growth rate and is steadily stable, it is estimated that the export value will continue to increase sharply, reaching 44.6 billion USD, accounting for 15.8% of total export turnover, outpacing textiles and garments in both value, growth rate and proportion (textiles and garments reached 29.8 billion USD, proportion accounted for 10.5%).
Export value of Textiles and garments and Electronic goods, computers and their parts in the period 2010 – 2020
In terms of export market, in 2020, China is the largest export market for electronic goods, computers and their parts. This market reached 11.1 billion USD, rose up 16% over the previous year, accounting for 24.9% of the total export turnover of this commodity group in 2020. Other major export markets in 2020 such as: USA $ reached 10.4 billion, a sharp increase of 71.7%; EU reached 6.5 billion USD, edged up by 28.7%; Hong Kong reached 4.2 billion USD, rose up 38.2%.
In the first 4 months of 2021, there are 19 items with an export turnover of over 1 billion USD, accounting for 84.5% of the total export turnover. In which, 5 items with over 5 billion USD, accounting for 59.8% include: Phones all of kinds and their parts with the largest export value reaching 18.4 billion USD; electronic goods, computers and their parts reached 15.9 billion USD; machinery, instrument, accessory reached 12 billion USD; textiles and garments reached 9.5 billion USD; footwear reached 6.4 billion USD. Thus, accumulated from the beginning of the year to the end of April, the export of electronic goods, computers and their parts reached a turnover of nearly 16 billion USD, an increase of about 3.7 billion USD over the same period last year, equivalent to the rate of 30.8% growth. With the above results, computers, electronic products and components continue to maintain their position as the second largest export commodity of Viet Nam (after Phones all of kinds and their parts), accounting for 15.3% of the total export turnover in the first 4 months of 2021.
Exports of electronic products, computers and components to major markets have achieved high growth rates. Export to South Korea is estimated to increased by 60.6%, reached 850 million USD; exports to ASEAN edged up by 55.5%, reached 520 million USD; exports to the US market rose up 41.8%, reached 2.6 billion USD; exports to the EU went up 39.2%, reached 1.4 billion USD.
In order to promote the fast and sustainable development of the electronics industry, it is necessary to clearly define the industry’s development strategy; in which, focusing on identifying the core and breakthrough products. The electronics industry is a key industry in the national economy, so it is necessary to have a long-term development plan, pay attention to investment, consider investment incentives for businesses; support for product research, testing, and trade promotion programs; reviewing and completing legal policies, especially specific provisions on goods originating in Viet Nam; implementing solutions to expand domestic and export markets. If the current high growth rate continue, in the near future, the group of electronic goods, computers and their parts will becomes the leading export value.