Vietnam's phone export down 18.6 pct in January-Xinhua

Vietnam's phone export down 18.6 pct in January

Source: Xinhua| 2023-02-08 15:42:45|Editor: huaxia

HANOI, Feb. 8 (Xinhua) -- Vietnam earned about 4 billion U.S. dollars from exporting phones and components in January, according to the country's General Statistics Office on Wednesday.

The number accounted for 15.9 percent of the country's total export revenue over the period and posted a year-on-year decrease of 18.6 percent.

With the revenue, phones and components continued to be Vietnam's largest export items, followed by computers and electronic components, as well as garments and textiles.

After more than two years of booming trade, a period of "stagnation" has come to Vietnamese key export industries, including phones and components since the fourth quarter of last year, local newspaper Vietnam News reported citing a report by HSBC, a British multinational investment bank.

Mobile phone export has the largest influence, among the key export sectors of Vietnam, including textiles, footwear, computers and furniture. However, new electronic orders in the world have begun to decline sharply from the second half of last year, affecting the consumer electronics sector more than industrial products, the newspaper said.

Exports are still facing "headwinds" in the first month of the new year and it is forecast that the drag on exports will at least last until the end of the second quarter, it said.

In 2022, the country earned approximately 59.3 billion dollars from exporting phones and components, mainly to China, the United States and South Korea, up 3.1 percent from the previous year, according to the office.

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