Business News 15/03/2024, 04:51

Vietnam Becomes World's Second Largest Smartphone Exporter

Vietnam has surpassed South Korea to become the world's second-largest smartphone exporter.

Vietnam Becomes World's Second Largest Smartphone Exporter

Over the years, Vietnam has attracted many foreign manufacturers and continuously increased its export market share.

According to the General Department of Customs, Vietnam's export of phones of all kinds and their parts in January reached more than 5.5 billion USD, an increase of more than 50.4% compared to December 2023 and an increase of 11.4% over the same period last year. The US and China are becoming the largest customers of Vietnam's phones and their parts.

In January, Vietnam exported more than 1.39 billion USD to the US (accounting for 25% of export markets). Ranked second was China with more than 734 million USD (accounting for 13% of the total), and third was Korea with 330 million USD (equivalent to 6% of the total).

Statistics also show that in 2010, the export turnover of phones and parts only accounted for 3.2% of total export turnover, but from 2011 to 2021, the group of phones and parts increased by an average of 34%. In 2023, the group of phones and parts had the second highest export value among Vietnam's export products.

Vietnam is also a place attracting giants in the phones and parts industry, one of which is Apple. Accordingly, there are currently 25 suppliers of Apple that have set up factories in Vietnam's provinces.

CafeF / Translator: Hoàng Trúc
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