Hardware and electronics exports rebound

Workers of Foster Electric Vietnam Co Ltd on a production line. — VNA/VNS Photo

The information and communications industry’s total revenue for this year is estimated at VNĐ4.24 quadrillion (US$166.7 billion), marking a 13.2 per cent increase from 2023. Contributions to the State budget reached about VNĐ109.47 trillion, up 15.1 per cent year-on-year.

The sector's GDP contribution is estimated at VNĐ989.02 trillion, a rise of 11.2 per cent compared to the previous year, according to the Ministry of Information and Communications.

Meanwhile, the total workforce in the industry reached about 1.54 million employees, up 2 per cent.

The digital technology industry (ICT) alone accounted for VNĐ3.88 quadrillion in revenue, reflecting a 14.1 per cent growth. By 2025, the ICT sector aims to achieve VNĐ4.32 quadrillion in revenue, representing an 11 per cent increase from 2024.

Despite high revenue growth, the ICT industry's post-tax profit for 2024 remained flat at VNĐ278.07 trillion, the same as in 2023.

However, in the ICT industry picture, the bright spot is the recovery of hardware and electronics exports. After a 15.1 per cent decline in 2023, exports rebounded to $132.34 billion, a 16.78 per cent increase from $113.3 billion in 2023.

For 2025, Việt Nam has set a target of $160 billion in hardware and electronics exports, representing a 20.8 per cent growth from 2024.

As of November 30, the number of operational digital technology enterprises reached 54,500, up 16 per cent from the same period in 2023. The goal for 2025 is to have 60,000 digital technology enterprises contributing to the sector’s growth.