Vietnam: Mobile Phone Market 2024

Mobile Phone Market Size in Vietnam

The Vietnamese mobile phone market declined dramatically to $X in 2022, waning by -15.8% against the previous year. Over the period under review, consumption continues to indicate a perceptible downturn. Mobile phone consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Mobile Phone Production in Vietnam

In value terms, mobile phone production dropped slightly to $X in 2022 estimated in export price. Overall, the total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.7% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 105% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Mobile Phone Exports

Exports from Vietnam

Mobile phone exports from Vietnam contracted to X units in 2022, declining by -3.6% compared with the previous year. Over the period under review, total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +6.1% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 148%. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, mobile phone exports skyrocketed to $X in 2022. Overall, exports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2013 when exports increased by 170% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X units) was the main destination for mobile phone exports from Vietnam, accounting for a 23% share of total exports. Moreover, mobile phone exports to the United States exceeded the volume sent to the second major destination, Austria (X units), threefold. The United Arab Emirates (X units) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +128.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+10.1% per year) and the United Arab Emirates (-5.0% per year).

In value terms, the United States ($X) remains the key foreign market for mobile phones exports from Vietnam, comprising 29% of total exports. The second position in the ranking was held by Austria ($X), with a 5.6% share of total exports. It was followed by South Korea, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +138.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+12.1% per year) and South Korea (+105.6% per year).

Export Prices by Country

The average mobile phone export price stood at $X per unit in 2022, rising by 28% against the previous year. Overall, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mobile phone export price increased by +46.6% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Austria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Mobile Phone Imports

Imports into Vietnam

Mobile phone imports into Vietnam surged to X units in 2022, jumping by 20% against the previous year's figure. Overall, imports posted a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by 62% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, mobile phone imports expanded markedly to $X in 2022. Over the period under review, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2021 when imports increased by 73% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of mobile phone to Vietnam, accounting for a 86% share of total imports. Moreover, mobile phone imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was taken by South Korea (X units), with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+100.6% per year) and South Korea (+10.2% per year).

In value terms, China ($X) constituted the largest supplier of mobile phones to Vietnam, comprising 76% of total imports. The second position in the ranking was held by the United States ($X), with a 16% share of total imports. It was followed by Hong Kong SAR, with a 4% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+127.8% per year) and Hong Kong SAR (+68.5% per year).

Import Prices by Country

The average mobile phone import price stood at $X per unit in 2022, waning by -11.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 23%. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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