Computers, electronics and components lead imports in 2024

Việt Nam’s imports of computers, electronics and components from China are estimated to reach a total of $33-34 billion in 2024. — Photo baodautu.vn

Việt Nam’s imports of computers, electronics and components in 2024 surpassed the $100 billion mark for the first time in history and were the highest level since 2013, according to statistics from the General Department of Việt Nam Customs.

As of December 15, 2024, the country spent $361 billion importing goods from around the world, a 15.6 per cent increase compared to the same period last year. Of the 53 main import categories, 47 have a turnover of over $1 billion.

The category of computers, electronics and components led the turnover at $102 billion, a 21.4 per cent annual increase.

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

It is estimated that Việt Nam’s imports of computers, electronics and components from China will reach a total of $33-34 billion in 2024.

After China, the second-largest market for this category’s imports is South Korea, accounting for 29.9 per cent of total imports with nearly $29.22 billion in turnover by November 2024, an annual increase of 12.4 per cent.

Taiwan follows with $12.62 billion in import turnover for this category, accounting for 12.9 per cent of the total, which represents an annual increase of 34.4 per cent.

Việt Nam’s exports of computers, electronics and components to foreign markets in 2024 surpassed phone exports by $17.8 billion to become the number one export category of the country. It generated a turnover of $71.7 billion by the end of November, an increase of 25 per cent compared to 2023.

As a result, Việt Nam has experienced a trade deficit of over $35.3 billion in computers, electronics, and components, an increase of more than 15 per cent compared to 2023.