ICT revenue falls by more than 7% over last year
Revenue of the information and communications technology industry (ICT) was valued at over VND1.71 quadrillion, equivalent to US$72.9 billion, by the end of last month, down 7.1% compared to the same period last year.
The Ministry of Information and Communications (MIC) said that the world economy faced many difficulties due to the economic recession in many countries with no signs of recovery.
In addition, the ICT consumption market was declining. Growth potential was low due to the resonance effects of the Russia-Ukraine conflict and the post-COVID-19 economic aftershock.
These had directly affected the export market of Vietnamese goods and services, including ICT products and services, leading to a decrease in the country's export orders.
The main reason was a sharp decline in hardware and electronics exports, with declines of 22.8% in March, 22.4% in April, and 16.3% in May.
Revenue from the hardware and electronics industry in the first seven months of the year was estimated at nearly US$67.7 billion, down 7% year-on-year.
The export value of hardware and electronic products was estimated at nearly US$61 billion, down 10.6% year-on-year, accounting for about 30% of the country's export value.
The General Department of Customs said that the export value of computers and components was estimated at over US$30 billion by the end of July, down 8.9% over the same period last year and the export value of phones and phone components was estimated at over US$27.8 billion, down 13.7% over the same period.
The number of registered digital technology enterprises had increased steadily.
According to data from the Agency for Business Registration under the Ministry of Planning and Investment, the number of registered and operating digital technology enterprises was estimated at 72,300 by the end of last month, an increase of 300 compared to June.