Information & communications services revenue hits US$47.6 billion

The sector posted turnover of over VND313 trillion (US$13.2 billion) in April, up 6% against March but down 1% year-on-year.

Vietnam, along with Thailand, India, and Cambodia, has led a significant increase in semiconductor chip exports to the US market this year, accounting for more than 10% of US imported chips for seven consecutive months, according to the MIC.

In February 2023, Vietnam's semiconductor chip exports to the US reached US$562.5 million, up from US$321.7 million in February 2022. Vietnam ranks third in Asia in terms of semiconductor exports to the US, after Malaysia and Taiwan (China).

Vietnam and Thailand are major players in the semiconductor chip manufacturing market and have seen their trade with the US increase by 75% and 62%, respectively.

These results confirm the success of the US diversifying its electronics supply chain by shifting manufacturers from traditional markets to emerging markets.

The ministry reports that in April 2023, the industry’s revenue was estimated to surpass VND313 trillion, up 6% compared to the previous month. March’s revenue stood at VND295 trillion or down 1% over the same period last year.

The output of postal service in April was estimated at 175 million parcels with an increase of over 20% over the same period last year. Revenue from postal service reached VND4.65 trillion, up 8% year on year.

In the field of national digital transformation and digital government, the proportion of online public services was 51.32%, increased by 0.71% over the previous month with 50.61%.

In the field of digital economy, in March alone, the total number of downloads of mobile applications in the country stood at 280 million, marking an increase of 13% against February. Direct revenue from mobile app transactions was 34.8% year-on-year increase.