Exports of phones & accessories up 50% in May

Vietnam's exports of phones and accessories earned over $4.4 billion, a remarkable increase of 50.6% year-on-year, according to the General Statistics Office.

The figure brings the total export value of phone and accessories to a record of $22.5 billion in the first five months of the year, up 11.6% compared to the same period of 2023.

The US remained the biggest importer of Vietnamese phones and components as of April, 2024 with an export turnover of more than $3.8 billion, surging 21% year-on-year.

It was followed by China with over $3.4 billion, up 21% and South Korea with more than $1.1 billion, up 7.5%.

Last year, exports of phones and accessories gained $52.38 billion, ranking second after computers and components.

According to a report from the HSBC, the global market share of Vietnamese phones and accessories increased significantly since 2021. Vietnam has gained 13% of the global market share to become the second biggest exporter of smart phones, after China.