electronics

Year-on-year data paints a clearer picture of Vietnam’s standing in the global market. While exports to key markets like China remain robust at a year-to-date total of over US$4.25 billion, other markets reflect diverse trends.

Year-on-year, the industry recorded a substantial 14.15 percent increase in November 2024 compared to the same period in 2023. Over the first 11 months of 2024, cumulative growth stood at 8.63 percent, underlining the sector’s importance to Vietnam’s industrial output.

Year-on-year, the sector saw a 13.84 percent increase in November 2024 compared to the same period in 2023. Over the first 11 months of 2024, cumulative growth stood at 9.36 percent, highlighting the sector’s strong contribution to Vietnam’s industrial landscape.

Year-on-year, the industry recorded an 11.95 percent increase in November 2024 compared to the same period in 2023. Cumulative growth over the first 11 months of 2024 reached 8.72 percent, underscoring the sector’s robust performance.

On a year-to-date basis, imports have reached US$9.43 billion. China remains the dominant supplier despite a 12.84 percent monthly decline, contributing US$851.4 million. South Korea saw a notable increase of 67.62 percent, reaching US$34.8 million, while Japan recorded sharp growth of 180.04 percent to US$531.8 million.

China was the largest market, receiving US$1.12 billion in November, but this represented a significant decline of 33.65 percent month-on-month. The USA followed with US$642.82 million, down 7.68 percent. South Korea saw a decrease of 13.16 percent, with exports totalling US$263.32 million.

China was the largest supplier, with imports growing by 6.77 percent to US$2.97 billion. South Korea followed, contributing US$2.82 billion but reflecting a decline of 2.69 percent month-on-month. Taiwan saw imports decrease by 5.35 percent to US$1.26 billion.

Throughout 2024, the sector has experienced stable, gradual growth. September’s CPI stood at 1.17 percent, while mid-year figures remained consistent, with 1.14 percent in August and 1.15 percent in July…

The USA remained the largest market, with exports amounting to US$1.80 billion, despite a slight decline of 0.65 percent month-on-month.

The surge in demand, per the report, is attributed to Vietnam’s developing electrical industry, which currently lacks the technical expertise and production capacity to meet domestic needs. As a result, the country relies heavily on imports of circuit breakers and other electrical protection devices.

Despite the slight monthly dip, year-to-date figures reflect solid growth. From January to October, exports in this category reached US$46.47 billion, a 4.9 percent increase compared to the same period in 2023…

Year-to-date performance reflects significant growth. From January to October, Vietnam’s exports in this category totalled US$6.86 billion, an 18.4 percent increase compared to the same period in 2023.

Overall, electrical equipment manufacturing surged by 9.9 percent from September 2024 and recorded a substantial 15.4 percent increase compared to October 2023. Year-to-date growth in this segment stood at 10.8 percent, driven by rising demand for electrical infrastructure and equipment both domestically and for export…

The project focuses on producing precision motors, motion transmission motors, LED sources, and similar components, with a production capacity of 990,000 product sets annually. It has created employment opportunities for 100 workers and is expected to contribute approximately US$50 million in annual exports.

The production of electronic products, computers, and optical products grew by 2.8 percent from September 2024, while the year-over-year increase for October reached 4.1 percent. Cumulatively, production in this segment rose by 8.8 percent from January to October compared to the same period in 2023…

The project specialises in producing and assembling electronic circuit boards, wearable devices, smart handheld devices, and household appliances. With a production capacity of 260 million product sets per year, it plays a significant role in Vietnam’s growing tech manufacturing sector. The facility employs 1,000 workers and contributes substantially to the country’s export economy, generating US$500 million in annual exports.

There was a slight dip in October, however, year-to-date figures reveal robust growth. From January to October, exports in this category totalled US$58.67 billion, a 26.1 percent increase compared to the same period in 2023.

The project specialises in manufacturing and assembling automatic positioning liquid crystal module components, with a production capacity of 10.5 million units annually…

This adjustment brings the total investment in the high-tech OLED screen manufacturing facility to US$5.65 billion, making it one of LG’s largest projects in the country…

China remains Vietnam’s largest source of electronics, with imports valued at US$3.11 billion in September. However, this represents a 5.28 percent drop from August, reflecting a possible shift or seasonal adjustment in import volumes…