One of the noteworthy developments related to Vietnam's export of key products with a turnover of "billions of dollars" is related to the group of phones and components.

Phone exports are showing an impressive recovery. Photo: T. Binh. 

Three commodity groups increased by "billions of dollars"

In the first two months of the year, the total of export turnover reached US$48.74 billion, up 23.7%, corresponding to an increase of US$9.35 billion over the same period last year.

In which, there are three groups of goods with an increase of turnover at leastUS$1 billion.

Specifically, machinery, equipment, tools and spare parts increased by US$2.44 billion, corresponding to an increase of 77.2%; phones and spare parts by US$2.2 billion, corresponding to an increase of 29.1%; computers, electronic products and components increased byUS$1.85 billion, corresponding to an increase of 34.2%.

Machinery, equipment, tools and spare parts reached US$5.6 billion, a sharp increase of 77.2% over the same period last year, which is a very remarkable development.

The largest export market is the US with US$2.73 billion, up by 185%; EU reached US$697 million, up 62.6%; South Korea with US$367 million, up 18% over the same period in 2020.

For the group of mobile phones and components, after 2020, facing many difficulties, the number one export commodity group of Vietnam is thriving in the first two months of this year with a turnover of $9.78 billion, up 29.1% over the same period in 2020.

In which, the Chinese market reached US$2.37 billion, up strongly by 102.5%; the US market reached US$1.8 billion, down 3.5%; EU reached US$1.38 billion, up slightly by 0.8% compared to the same period last year.

Computers, electronic products and components are the key product groups with the most stability in recent years. For example, in 2020, although the Covid-19 pandemic caused difficulties, many industries had problems, but this commodity group still achieved impressive growth of 24.1%.

In the first two months of 2021, exports of computers, electronic products and components continued to maintain an impressive increase with a turnover of US$7.27 billion, up 34.2% over the same period in 2020.

The main export market is the US with US$1.74 billion, up 44.8% over the same period last year; China reached US$1.58 billion, up 12.4%; EU market reached US$964 million, up 41.3%.

Iron and steel exports increased sharply in China and Indonesia

Iron and steel products also had a sudden growth in both volume and turnover. By the end of February, the amount of iron and steel exported has reached nearly 1.7 million tons, up 44% over the same period last year and the value reached US$1.15 billion, up to 75.6%.

Exports of this commodity group increased strongly in the Chinese market with 301,000 tons, up 43% over the same period last year; Indonesia with 182,000 tons, up 42% and Mexico reached 108,000 tons, 2.7 times more.

Another "billion dollar" commodity group with a fairly good growth is footwear. In the first two months of the year, this commodity group reached $3.08 billion, up 10.4% over the same period in 2020.

The US and the EU continue to be the two main export markets of the footwear group, with value and growth rates of US$1.19 billion (up 19.6%) and US$721 million (up 15%, respectively).

Thus, the two above markets reached US$1.91 billion, accounting for 62% of the country's total footwear export turnover.

Textile and garment is the only key product group with negative growth. In the first two months, turnover reached US$4.48 billion, down 5.8% over the same period last year. This commodity group has continued to struggle since the outbreak of Covid-19, because in 2020 this commodity group decreased by 9.2%.

The US continues to be Vietnam's largest textile and garment export market with a turnover of US$2.2 billion, down 3% year-on-year,accounting for 49% of the country's total textile export turnover.

Followed by Japan market reached US$490 million, down 14.1%; EU market reached US$440 million, down 6.6%.