Vietnam’s phones, components and computers faced an unprecedented decline in export orders between the fourth quarter of last year and the first half of this year due to high inflation coupled with an economic downturn in major markets, according to details given by the Ministry of Industry and Trade.

 Statistic indicate that the country raked in US$49.5 billion from its export of phones, components and computers in the first half of the year, of which phone and component exports dropped by 17.9% to reach US$24.3 billion and computers and electronic exports fell by 9.3% to US$25.2 billion on-year.

The sharp decline recorded in consumption demand in several major markets such as the United States, the EU, and Japan due to the economic downturn have exerted a direct impact on export activities of the Vietnamese phone and component manufacturing industry.

According to a forecast made by market research firm Counterpoint Research, the global phone market remains under downward pressure, with demand likely to rebound in the remaining months of the year.

Tran Duy Dong, director of the Import-Export Department under the Ministry of Industry and Trade, pointed out that the electronics sector will continue to face challenges ahead as inflation remains high over the coming months.

Furthermore, the global economy will recover slowly and continue to have a certain impact on the trend of tightened spending for conventional and luxury products, especially for textiles, footwear, furniture, and electronic components in several major consumption markets in both the US and the EU, he noted.

Source: VOV

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