Phones and components lose their spot as the largest export group to China

May 17, 2024 - 10:36
Among the main export groups, phones and components are the only products which posted a fall in turnover compared to the same period last year.
A mobile phone assembly line at Samsung's Việt Nam's factory. — Photo courtesy of Samsung

HÀ NỘI — With a decrease of 14 per cent in export value in the first four months of this year, Vietnamese phones and components have lost their position as the number one export group to the Chinese market.

According to the latest preliminary statistics from the General Department of Customs, Việt Nam's exports to the Chinese market reached US$17.7 billion by the end of last month, an increase of 10.9 per cent over the same period last year.

The figures confirmed that China continues to be Việt Nam's second largest export market, following from the US.

There are five groups of export products to China, which account for a turnover of over $1 billion by the end of April, three more than the same period last year.

These three product groups are cameras, camcorders and components with an export turnover reaching $1.88 billion, up 102.8 per cent year-on-year; fruits and vegetables reaching $1.16 billion, up 44.6 per cent; machinery, equipment, tools and spare parts reaching more than $1 billion, up 7 per cent.

The remaining two billion-dollar groups are computers, electronic products and components, accounting for $3.98 billion, up 23.5 per cent; and phones and components at $3.47 billion, down 14 per cent.

The last export group, phones and components, are the only one to post a decline in turnover compared to the same period last year. —VNS