2015 phone exports exceed US$30 billion

A report of the department showed that Vietnam’s goods exports amounted to US$162 billion in 2015, a rise of 7.9% against 2014, with shipments of phones and phone parts making up nearly 20% of the total.

Phones and phone components topped the list of export earners last year, followed by apparel with US$22.81 billion (up 9.1%).

The European Union was Vietnam’s biggest importer of phones and phone parts last year, with shipments up 19.7% to US$10.11 billion. The United Arab Emirates ranked second with US$4.48 billion (up 23.3%) and the U.S. came third with US$2.77 billion (up 78.9%).

The increase in phone and phone parts exports last year was backed by foreign-invested enterprises such as Samsung with two complexes in Bac Ninh and Thai Nguyen provinces, Microsoft with one complex in Bac Ninh and LG with a complex in Haiphong.

The report indicated that electronic items, computers and computer parts were among the country’s key export earners, with US$15.61 billion fetched, up a staggering 36.5% year-on-year.

The EU was Vietnam’s biggest importer of electronic products, computers and computer parts with US$3.2 billion (up 36.8%), followed by the U.S. with US$2.83 billion (up 33.6%) and China with US$2.65 billion (up 20.8%).

The group of other equipment, machines, tools and spare parts saw its export value reaching US$8.17 billion last year, a rise of 11.7% versus 20214.

Those products made up a huge proportion of Vietnam’s exports but were manufactured by foreign rather than local firms.

Experts said the phone and phone parts sector will post higher export revenues in the coming time as many tech corporations including South Korean giant Samsung have expanded investments.

According to the General Department of Customs, Vietnam’s exports and imports amounted to US$327.76 billion in 2015, a year-on-year increase of 10%. Of which, imports were US$165.65 billion, up 12% over the previous year.

Vietnam ran a trade deficit of US$3.54 billion last year, or 2.2% of total exports, while the country enjoyed a trade surplus of US$2.37 billion in 2014.

Last year saw the lowest export growth rate in five years, at 10% compared to the average 15.8% of the period.