Hanoi (VNA) - Exports of electronic products and components may reach 50 billion USD in value in 2021, a year-on-year rise of 13.5 percent, according to the Import-Export Department under the Ministry of Industry and Trade (MoIT).

To reach the target, huge efforts by businesses, the State, as well as relevant agencies and localities are required.

Shipments of key industrial goods like components, computers and electronic products raked in 27.6 billion USD the first eight months of the year, surging 24.8 percent compared to the same period of 2020, the latest report of the MoIT showed.

Demand for such products is forecast to continue rising in the rest of 2021.

Truong Hai Auto Corporation (THACO) exported millions of automobile components to its partners in the Republic of Korea, Malaysia, Russia and Japan.

THACO General Director Pham Van Tai said that although the fourth wave of COVID-19 outbreaks has dealt a major blow to firms’ operations, especially in early of this year’s third quarter, components and mechanical items still have chances to enter the European market.

The complexities of the pandemic are sending firms to difficulties, primarily in transport and supply, as their foreign business partners impose stringent criteria, he added.

They are advised to focus on project development and investment, in an effort to seize opportunities and momentum once the pandemic is brought under control.

Concerns have been rising amongst electronic firms due to the complex developments of COVID-19 and social distancing measures in numerous localities.

Payment for regular COVID-19 tests for employees and overload in transport service providers lead to higher costs of production as firms must maintain their product prices, so they may fall into losses./.