Telephone exports earn nearly US$8 billion

Telephones and spare parts ranked second among Vietnam’s top ten export earners in the first eight months of this year.

The General Department of Customs’ latest statistics showed they enjoyed a record year-on-year rise of 123 percent to US$7.977 billion in export revenue.

For many months, they have been listed among export items earning more than US$1 billion each, fetching US$2.69 billion in the first quarter, up 161.9 percent compared to the same period last year, and US$5.03 billion in the first half of this year.

Such impressive results are owing to foreign businesses, including Samsung, Intel, Cannon, Compal and Foxconn, operating in Vietnam, which make up 80 percent of the domestic market share and 90 percent of total export turnover.

Vietnam’s key export markets are the European Union (EU), Russia and Saudi Arabia.

Vietnam’s electronic sector is likely to earn an export turnover of US$15-16 billion by the end of 2012, the Vietnam Electronic Industries Association (VEIA) forecasts.