Electronics exports aims for US$140 billion export target in 2025

Last year witnessed the electronics sector rake in nearly US$126.5 billion from exports, representing an increase of US$17 billion compared to 2023 and contributing more than one-third to the country's total export turnover of US$405 billion.

Of the figure, the computer, electronics and component exports fetched US$72.56 billion, up 26.6%, while phone and component exports earned US$53.9 billion, up 2.9% on-year.

The United States, Europe, China, and the Republic of Korea made up the main export markets of the Vietnamese electronics industry.

Specifically, exports of computers, electronic components, and phones to Europe and the American markets reached US$56.9 billion, thereby accounting for nearly 45% of total export turnover.

Experts attributed impressive growth in electronics and technology exports to large investments made by the world’s leading foreign corporations operating in the Vietnamese market such as Samsung, LG, and Apple.

Most notably, the Vietnamese mobile phone market has become a bright spot with rapid developments as Apple's three major partners in the country, namely Foxconn, Luxshare, and GoerTek, have continuously expanded their investment in electronics production activities.

Insiders pointed out that there are bright prospects ahead for the industry despite global  geopolitical conflicts affecting the supply chain and delivery.

For example, Foxconn’s manufacturing facilities featuring total investment of US$500 million in Vietnam are expected to officially put into operation on from May, 2027, while Pegatron Group (Taiwan) will also inject US$500 million in its third factory in the country for the period of 2025 to 2026.

These projects are therefore anticipated to continue to enhance the country’s position as a hub for exporting technology products within the global technology supply chain while becoming a driving force to help increase the sector’s annual export growth.

However, experts outlined several challenges faced by the electronics sector including the level of dependence on imported input materials and a low localization rate.

Additionally, the share of processed and manufactured products with high added value remains limited, and the capabilities of domestic enterprises are still constrained, resulting in product quality and design not fully meeting the market's high demands.

According to industry insiders, Vietnamese exports to the US, including electronic products, are predicted to encounter trade defense measures from the demanding market in the future.