MoIT expects strong growth for electronics industry
The electronics industry will continue posting strong growth this year thanks to the strong demand for devices for communications and remote work amid the COVID-19 pandemic, the Ministry of Industry and Trade (MoIT) forecast.
Electronics exports are forecast to reach about 50 billion USD in 2021, up 13.5 percent from last year. (Photo: VNA)
Hanoi (VNA) – Theelectronics industry will continue posting strong growth this year thanks tothe strong demand for devices for communications and remote work amid the COVID-19 pandemic, theMinistry of Industry and Trade (MoIT) forecast.
The expansion is alsoattributed to the closure of computer and electronics factories around theworld as a result of the pandemic, the MoIT said, predicting the country's electronicsexports at about 50 billion USD in 2021, up 13.5 percent from last year.
The MoIT said Vietnam isselling computers and electronic components to more than 100 markets, mainly toChina, the US, the Association of Southeast Asian Nations (ASEAN), Japan, and the Republic of Korea.
The country is stronglypromoting shipments to EU markets such as the Netherlands, Germany, the CzechRepublic, Poland, and Finland, and expanding its market shares in new and potentialones like India and those in Africa, Latin America, and the Middle East.
In the first 10 months ofthis year, computers, electronic products and components brought home 41.16billion USD while mobile phones and accessories raked in 46.22 billion USD, respectivelyrising 13 percent and 9.6 percent year on year.
During 2016 - 2020,electronics exports grew by 23.8 percent on average, helping Vietnam move fromthe 47th position in 2001 to the 12th place in the worldand the third in ASEAN in this regard, according to the MoIT./.
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Electronics exports are forecast to reach about 50 billion USD in 2021, up 13.5 percent from last year. (Photo: VNA) 
