China spends US$15.5 billion on Vietnamese phone imports, down from previous year
VOV.VN -China spent nearly US$15.5 billion on importing phones and components from Vietnam last year, a drop of nearly US$1.5 billion from the previous year, according to the General Department of Vietnam Customs.
Statistics indicate that last year the country grossed over US53.89 billion from exporting phones and components, up 2.9% compared to 2023.
This represents the product group with the second largest turnover among the country’s key export products, after electronic computers and components, accounting for 13.3% of the country’s total export turnover. Renowned phone brands with high export turnover include Samsung, Google, iPhone, Nokia, and Xiaomi.
Notably, Vietnam exported the majority of phones and components to the Chinese market last year with nearly US$15.44 billion, down 8.5% compared to 2023, accounting for 28.7% of the total export turnover.
Compared to the export level of nearly US$17 billion recorded in 2023, the northern neighbour moved to reduce imports by nearly US$1.5 billion for the phone group from the Vietnamese market.
Vietnam’s second largest export market was the United States with over US$9.82 billion, up 24.3%, followed by the Korean market with nearly US$3.56 billion, up 1.3%.
Meanwhile, the export of phones and components to several EU markets endured a sharp decline, while exports to free trade agreement (FTA) markets such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP) also plummeted.
Phone and component exports to India skyrocket in seven months
VOV.VN - Vietnamese phone and component exports to India during the past seven months of the year reached US$1.15 billion, representing a sharp rise of 102% on-year, according to data released by the General Department of Vietnam Customs.
