The information and communications industry’s total revenue for this year is estimated at VND4.24 quadrillion (US$166.7 billion), marking a 13.2% increase from 2023.

Electronics export has witnessed vigorous recovery, posting double-digit growth over seven and a half months and expected to hit US$130 - 132 billion in 2024.

Revenue from the communications and information industry saw a significant drop in the first half of this year due to the difficult global and domestic economic situation, according to the Ministry of Information and Communications.

The export of phones, which contribute annually over US$50 billion in the last three years, is expected to help Vietnam expand its total export turnover by 6-8% in 2022.

The electronics industry will continue posting strong growth this year thanks to the strong demand for devices for communications and remote work amid the COVID-19 pandemic, the Ministry of Industry and Trade (MoIT) forecast.

Exports of electronic products and components may reach US$50 billion in value in 2021, a year-on-year rise of 13.5%, according to the Import-Export Department under the Ministry of Industry and Trade (MoIT).