According to the latest data on the export situation in the first 10 months of 2024 just announced by the General Department of Customs, computers, electronic products and components lead the group of key export products of Vietnam with a revenue of 58.66 billion USD, an increase of more than 26% over the same period last year.
Compared to the export value of the adjacent group of products, which are phones of all kinds and components, computers, electronic products and components have surpassed it by 12.2 billion USD.
In the group of 49 export goods of the whole country, the export turnover of this group of goods has maintained the leading position since August until now.
Regarding the export market of computers, electronic products and components of Vietnam, according to statistics from the General Department of Customs, this group of products is exported to more than 40 countries and territories around the world.
Of which, the largest export value is to the US market with 19.1 billion USD; the second is to the Chinese market, reaching 9.9 billion USD.
According to the Ministry of Industry and Trade, the development of the electronics industry in Vietnam in recent times is mainly due to attracting large investments from multinational corporations from Korea and Japan in the field of electronic component manufacturing.
With the advantage of investing in product research and development right in Vietnam by a number of corporations, domestically produced electronic products are quite diverse in types, colors, designs, etc. and meet most of the domestic demand as well as export to many major markets in the world.
Economist Vo Tri Thanh - former Deputy Director of the Central Institute for Economic Management Research said that it is undeniable that the bright picture in Vietnam's exports always includes groups of products such as computers, electronic products, manufacturing, components, etc.
This demonstrates the effectiveness of the bilateral and multilateral free trade agreements that Vietnam has signed. It should be noted that Vietnam's largest and most important export markets have all achieved very good growth since the beginning of the year.
In the final months of the year, the Ministry of Industry and Trade said that export activities are expected to have many advantages and room for growth because global inflation has cooled down and international market demand is on the path to recovery following the wave of interest rate cuts by central banks.
The world economy in 2024 is forecast to have a "safe landing", however, the economic growth of some of Vietnam's major partners has many differences.
In addition, year-end consumption demand in major markets such as the US and EU will be an important driving force for exports, especially in the electronics, consumer goods and textile sectors (global retailers increase stockpiling for major holidays).
However, the Ministry of Industry and Trade also said that the market still has unpredictable developments when the world's geopolitical issues continue to develop in a complicated and unpredictable manner, with many difficulties, challenges, risk factors, and uncertainties.
In particular, geopolitical tensions and armed conflicts in Europe, the Middle East and the Korean Peninsula could cause disruptions in the global value chain, thereby having both negative impacts on Vietnam's production and export activities.
Therefore, the Ministry of Industry and Trade believes that businesses need to focus on effectively exploiting Free Trade Agreements (FTAs) that have come into effect and signing and implementing new agreements to expand and diversify markets, import and export goods, and supply chains.
Strengthen exploitation of neighboring markets with potential, strongly shift to official export associated with brand building, promote sustainable export.
