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“Made in Vietnam’ phone exports hit record of nearly $58 billion
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Pangasius exports exceed expectations.
Export revenue in 2021 of phones of all kinds and phone components reached $57.54 billion, up 12.4% compared to 2020, Statistics from the General Department of Customs showed.
According to the statistics, export earnings from the Chinese market were estimated at $15.18 billion, up 23%; $ 9.69 billion from the US, up 10.3%; and $7.89 billion from the EU, down 9.1% compared to the previous year.
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The export turnover of ‘Made in Vietnam’ phones in 2021 hit a record, far surpassing that of the second largest export product group of computers, electronic products and components with $50.83 billion. If in 2010, export revenue of phones and components only reached $2.3 billion, five years later it rose by 13 times to $30.2 billion. So far, the export value has increased 25 times compared to 2010, local media reported.
The data shows, Samsung is still the largest electronics and phone manufacturer in Vietnam.
Pangasius (tra fish) exports topped US$1.61 billion last year, an 8.4 per cent rise from 2020, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Exports rose quite sharply thanks to a surge in shipments to markets such as Brazil (48.6 per cent increase), Colombia (68.5 per cent), Russia (72.8 per cent), and Egypt (51.7 per cent).
VASEP said exports were up also thanks to the US increasing buying amid an increasing Covid-19 vaccination rate and reopening of restaurants.
Exports to the US in fact doubled from 2020 to $370.6 million.
The fact that the US imposes zero import tariffs on Việt Nam’s two leading pangasius exporters, Vinh Hoan Company and Nam Viet Company, has been a big factor in exports to that market increasing consistently.
Meanwhile, exports to China were down 12.6 per cent to $450 million, or 27.8 per cent of total exports.
Exports to the EU declined for a fourth straight year, falling 17 per cent to $106.2 million.
VASEP said the pandemic had a major impact on pangasius trade with many countries including France, Italy and Germany.
It forecast exports of the fish reach $1.7 billion this year.
The pangasius export market is improving and is expected to fully recover this year with companies’ efforts and the Government’s support, the Vietnam News Agency reported.
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Source: Vietnam Insider