Vietnam targets $160 bln in hardware and electronics exports by 2025

Vietnam aims to achieve a hardware and electronics export value estimated at $160 billion in 2025, representing a significant 20.8% increase compared to 2024.

In 2023, Vietnam's hardware and electronics exports totaled more than $113 billion, a sharp 15% decrease compared to 2022. However, 2024 witnessed a strong rebound, with export sales of hardware and electronics increasing by nearly 16.8%.

According to the Ministry of Information and Communications' latest report, the total revenue of the information and communications sector is estimated at VND4.24 quadrillion (over $166.88 billion) in 2024, marking a 13.2% increase compared to 2023.

Within the sector, the digital technology industry (ICT industry) contributed VND3.87 quadrillion ($152. 5 billion), an increase of 14.1%.

Despite robust revenue growth, the after-tax profit of the ICT industry remained flat in 2024, stagnating at VND278 trillion (nearly $10.9 billion), the same as in 2023. This suggests that ICT companies have been increasing their investments, with potential profits expected in the future. It may also indicate that profit growth for ICT companies has plateaued and lacks new momentum.

Nonetheless, a bright spot in the ICT industry is the export of hardware and electronics. After a sharp decline in 2023, exports rebounded strongly in 2024, estimated at $132.341 billion.