According to data released on April 8 by Vietnam's bureau of statistics, the country's total export value for the first quarter of 2022 rose to $88.58 billion, up 12.9 percent, indicating Vietnam's upward trend in exports.
In March, Vietnam's exports reached $34.71 billion, up 48.2 percent from a year earlier, and up by 48 percent compared with Shenzhen, which exported about 120 billion yuan in the same period, down 14 percent from a year earlier.
In 2021, exports grew even faster in Vietnam, nearly 9 percent beyond Shenzhen, with $336.25 billion in total exports from Vietnam and $307.2 billion in Shenzhen's total exports that year.
Electronic products take a prominent place in Vietnam's export surge: In the first quarter of 2022, the highest export value of $14.2 billion was in cell phones and relevant components; electronics, computers, and relevant components is second with exports at $13.1 billion; followed by exports of machinery manufacturing and equipment products valued at $9.9 billion, ranking third.
In 2021, Samsung Vietnam had a turnover of $74.2 billion, produced half of the world's Samsung cell phones, and exported to 128 countries and regions, according to Vietnam Investment Review on Jan. 24.
In the first quarter of 2022, Vietnam's exports to Australia increased by 32.36 percent year-on-year, with coffee up 84 percent, fishery products up 51 percent, and various types of steel up 500 percent.
"Vietnam is evolving at a speed that no one can even fathom and quickly surpassing China to becoming the prime destination for manufacturers," said a 2021 report titled "A Complete Guide Of Moving Manufacturing To Vietnam" published by VICO Shipping Company, which was founded in 1990 and engaged in freight forwarding service in Indochina with Vietnam as its business center.
Sunday, May 1, 2022
Vietnam Speeds Up Economic Recovery, Overtakes China's Top Export City for Third Consecutive Year
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