Computers, electronics and components dominate imports in 2024

Vietnam’s imports of computers, electronics and components in 2024 exceeded the USD 100 billion mark for the first time in history and reached the highest level since 2013, according to General Department statistics Vietnamese customs.

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As of December 15, 2024, the country spent USD 361 billion to import goods from around the world, an increase of 15.6% compared to the same period last year. Of the 53 main import categories, 47 have a turnover of more than USD 1 billion.

The computers, electronics and components category dominated the revenue with 102 billion USD, an annual increase of 21.4%.

Most of them come from China, accounting for 32.3% of the total import turnover of this group and reaching nearly USD 31.54 billion by the end of November 2024, a significant increase of 49%. compared to the first 11 months of 2023.

Vietnam’s imports of computers, electronics and components from China are estimated to reach a total of USD 33-34 billion in 2024.

After China, the second largest market for imports in this category is the Republic of Korea, accounting for 29.9% of total imports with nearly USD 29.22 billion in turnover in November 2024, representing a annual increase of 12.4%.

Taiwan (China) follows with USD 12.62 billion in import turnover for this category, accounting for 12.9% of the total, representing an annual increase of 34.4%.

In 2024, Vietnamese exports of computers, electronics and components to foreign markets exceeded phone exports by USD 17.8 billion, becoming the country’s top export category. They generated a turnover of 71.7 billion USD at the end of November, an increase of 25% compared to 2023.

As a result, Vietnam recorded a trade deficit of more than USD 35.3 billion in the computer, electronics and components sector, an increase of more than 15% compared to 2023.

VNA/CVN