31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
China surpasses South Korea as Vietnam’s largest supplier of electronic products
Hai Yen 16:33, 2021/06/21
Computers, electronic products, and parts have been the group of products with the highest import value since 2017.

China for the first time has surpassed South Korea as Vietnam’s largest supplier of electronic products, parts, and computers for the past five months with a turnover of US$8 billion, a surge of 54.6% year on year.

 Data: GSO. Chart: Hai Yen

With such a result,  South Korea was relegated to second place with a turnover of US$7.3 billion during the period, or an increase of 11% year on year, according to the General Department of Vietnam Customs (GDVC).

In May, Vietnam imported US$5.6-billion worth of computers, electronic products, and parts, down 1.4% against last month. This accumulated a total of US$27.83 billion in imported such products for the five-month period, representing an increase of 26.5% year-on-year.

“Computers, electronic products, and parts have been the group of products with the highest import value since 2017,” stated the GDVC, with machinery, equipment, and parts (US$18.91 billion) and input materials for garment, and footwear (US$11.05 billion) at the second and third places.

 Data: GSO. Chart: Hai Yen

For the five-month period, Vietnam exported total goods and products worth US$131.13 billion, up 30.9% year-on-year, while the country’s imports stood at US$131.6 billion, up 36.7%.

With a trade deficit of US$2.07 billion in May, Vietnam recorded a deficit of US$473 million in the January-May period.

The US, China, EU, South Korea, and ASEAN remained Vietnam’s five major export markets for the period.

RELATED NEWS
TAG: Vietnam China South Korea electronic products computers parts phones exports imports
Other news
15:36, 2023/36/03
Hanoi creates favorable conditions for expansion of gas stations
Gas stations throughout the city are expected to provide clean energy and car wash services to protect the city's environment and promote a green transition.
15:51, 2023/51/31
Vietnam is 10th worldwide in remittance
Vietnam receives total US$19 billion worth of remittances in 2022, up 5.5% on-year.
10:05, 2023/05/31
Vietnam posts trade surplus of US$3.6 billion in January
The US remained Vietnam’s largest export market, with a revenue of $7.6 billion, while China was the top supplier of imported products at $8.1 billion.
21:39, 2023/39/28
Vietnam spends US$9 billion on oil imports in 2022
South Korea was the largest petroleum supplier of Vietnam, with 3.22 million tons, up 96% year on year.
20:05, 2023/05/26
Vietnam set for robust economic growth in 2023: Experts
The country’s economic performance next year will remain solid despite strong headwinds.
14:45, 2023/45/19
Vietnam calls for int’l support in green development
Vietnam would not sacrifice social advancement, equality, and the environment for economic growth.