The export of cameras, camcorders and components earned more than 720 million USD last month, an increase of 75.6% year-on-year, according to the General Statistics Office (GSO).
The Hanoi People's Committee has issued a plan for development of supporting industries in the capital city in 2021, affirming the importance of supporting industries in providing components, spare parts and materials for the processing and manufacturing sector.
Vietnam posted a total export value of 169.98 billion USD in the first eight months of this year. Of the export staples, five commodities registered an export value of over 10 billion USD.
Vietnam spent 1.1 billion USD importing mobile phones and spare parts in May, up 36.2 percent from the same period last year, according to the Ministry of Industry and Trade (MoIT).
Vietnam’s exports to the UK in the first half of 2018 were seven times higher than imports, resulting in a surplus of 2.34 billion USD, according to the General Department of Vietnam Customs.
Vietnam shipped to the US 16 billion USD worth of commodities in the past five months of this year, up 10 percent year on year while its imports from the partner topped 3.9 billion USD.
Vietnam produced 34.3 billion USD worth of cellphones and components for export in 2016, 99.8 percent of which made by FDI firms. Low local content ratio in manufacturing may hold back the economy.
Import tax on auto spare parts and components may be down to zero percent next year, two years before schedule in 2018, under the ASEAN Free Trade Agreement (FTA).
Vietnam's exports of telephones and their components hit nearly 20 billion USD, a year-on-year increase of 31.1 percent, in the first eight months this year.