70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 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
20:36, 2024/03/25
Vietnam seeks to strengthen ties with Finland
Vietnam remains a key partner for Finland in ASEAN.
18:15, 2024/03/21
Vietnam urged to soon implement PDP VIII
Ensuring an attractive investment environment "capable of mobilizing capital" is crucial to attracting long-term investment in infrastructure development.
15:41, 2024/03/21
Argentina seeks to elevate ties with Vietnam to strategic partnership
Both sides would continue to accelerate the process of negotiating and concluding the Vietnam-MERCOSUR Free Trade Agreement.
20:36, 2024/03/20
Vietnamese Gov’t to strengthen gold market management
Authorities must strictly enforce laws against gold smuggling, speculation, manipulation, and exploiting government policies to inflate gold prices, posing risks to market stability and safety.
15:06, 2024/03/20
South Korea to increase ODA by 50% to Vietnam in 2024
South Korea is the leading investor in Vietnam with a cumulative total of $86 billion.
13:50, 2024/03/20
Vietnam a priority for Dutch businesses in Southeast Asia
The Netherlands has become Vietnam's largest investor, the second-largest trading partner, and export market in Europe.