Electronic, computer and component exports edge up over 10% in Q1

VOV.VN - Vietnamese exports of electronics, computers and components during the opening quarter of the year stood at an estimated US$13.2 billion, accounting for 14.9% of total export turnover, representing a year-on-year rise of 10.1%, according to the General Statistics Office (GSO).

The major export markets of the item group remains the EU, the United States, and China, of which exports to the US surged by roughly 17.2% to reach US$3 billion.

The initial quarter of the year witnessed the industrial production index of the electronics manufacturing industry also increase by 9.4%.

Despite being considered a spearhead industry with several major achievements in attracting foreign direct investment (FDI) and significantly contributing to the country's overall export turnover, the group of electronics, computers and components has been at an early stage in the production chain and is largely dependent on foreign-invested enterprises.

Furthermore, the sector has yet to develop hi-tech export products, while the proportion of processing and manufacturing products with high-added value remains low.

Nguyen Thi Huong, director general of the GSO, underlined the need to provide support for firms in the process of researching new products, launch trade promotion schemes, fine-tune the legal system, especially specific regulations placed on goods of Vietnamese origin.

Simultaneously, it is essential to boost export market expansion, improve the operational efficiency of Vietnam's representative agencies abroad and associations whilst maximizing the benefits from newly signed free trade agreements (FTAs).

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