Vietnam’s smartphone exports reach a lot more than $51 billion in 2020

Vietnam, a significant assembler of smartphones for global brands, has reached an export value of phones and parts of $51.18 billion last year, in line with the General Statistics Office of Vietnam.

Export benefit fell by just 0.4 % in 2020 regardless of the Covid-19 crisis, the statistics office noted.

Notably, the show of smartphones in the nation’s total exports this past year declined to 18 % in 2020 from 30 % in the previous time, indicating that Vietnam’s exports have become more diversified. Nevertheless, smartphones continue to be Vietnam’s most important export right now.

The phones were exported to over 50 countries and territories, with China being the most significant target industry, accounting for nearly a quarter.

This is followed by europe with a 19 % share, trailed by other countries like the US, South Korea and the United Arab Emirates.

Samsung Consumer electronics accounted for almost all of Vietnam’s smartphone shipments and exports. The South Korean tech giant has invested intensely in the country and operates two manufacturing conveniences in the north, the company’s largest. About 60 % of all Samsung smartphones are stated in Vietnam.

Overall, Vietnam’s electronics exports have been booming due to regular foreign investment in the sector, HSBC said found in a recently available report. Electronics exports this past year had been stood at an archive $96 billion, or a third of the country’s total exports.

Other electronic devices producers having set up operations on Vietnam besides Samsung are Intel which runs a chip assembly and testing facility there, and Apple, which produces Airpods since May 2020 and is probable to start creating iPads as soon as mid-2021, and Foxconn, an integral supplier for Apple which includes already invested $1.5 billion in the united states and is currently establishing a fresh 270-million plant in Vietnam.