The amount accounted for 12 percent of the country’s total export revenue in the period.China remained Vietnam’s largest importer of this commodity group with turnover reaching $4.67 billion, an 86.7 percent year-on-year rise. It is followed by the United States and Netherlands with turnover of $2.41 billion and $1.5 billion, up 12.5 percent and 22.8 percent against last year, respectively.
The exports to the European and Southeast Asia markets also made up 16 percent and 10.7 percent of the total, reaching $2.96 billion and $2 billion, up 25.6 percent and 47.8 percent, respectively.
Exports of computers and electronic products rise over 40 percent in first nine months.
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Meanwhile, the import turnover of computers, electronic products and spare parts was $27.32 billion in nine months, an increase of 35.6 per cent against the same period last year. Vietnam mainly imported the products from China, Republic of Korea, Taiwan (China) and the United States.
Vietnam therefore still had a trade deficit of $8.78 billion for this commodity group in the first nine months this year.
The electronics industry in recent years has continuously developed, becoming a key of the export sector, making an important contribution to the export’s achievement of the whole country. The Vietnam's electronic industry marked an important turning point since 2013 when it surpassed Vietnam's textile and garment industry for the first time and has held the No. 1 position.
However, according to experts, despite being the leading of the export industries, the electronic industry – high technology of Vietnam is still struggling in the processing stages and the profit is mainly falling into the hands of foreign investors.
Vietnam takes part mainly in processing and assembly for foreign companies so that the value added of Vietnam electronics industry is not high compared to other countries in the region and the majority of profit belongs to FDI enterprises, especially the domestic enterprises are more difficult to participate in this field.
Truong Thi Chi Binh, vice president and general secretary of the Vietnam Association of Supporting Industries (VASI), said that if we look carefully at the analysis of import data for many years, we will see the import value of electronic components is extremely big. The localization rate of domestic electronics enterprises is only 12 percent, the rest is 88 percent imported from abroad, imported from high-end components to mechanical parts, plastic, and rubber.
Besides, the fourth industrial revolution is considered as a chance for the export industries such as textile, footwear and electronic accessories. However, this opportunity is only possible as local enterprises apply advanced science and technology to improve the productivity and quality. Meanwhile, this is the weakness of domestic enterprises.
To develop the electronics industry, experts suggested that it is indispensable to take policies to develop supporting industries.
Kasinee Phantteeranurak, the Project Manager of Reed Tradex (Thailand), said that Viet Nam should pay more attention to improving productivity and promoting the value chain rather than depending on its available advantages. Each domestic company needs to define its objectives in upgrading its technology to meet global standards, as well as developing human resources to operate the new system.
Vietnamese Government also needs to encourage domestic enterprises to invest in technology, research, and development and seek new technologies to meet the market demand, the manager said.
