Electronics exports hit US$175.4bln in nine months, nearing US$200bln mark

The strong export performance underscores Vietnam’s growing role in global electronics manufacturing and supply chains.

Electronics exports have grown rapidly over the past year, averaging nearly US$20 billion a month. In September alone, electronics exports totalled US$28.73 billion, including US$22.56 billion from computers and electronic products, up 112.7% year on year, and US$6.17 billion from phones, up 14.3%.

During the nine-month period, exports of computers, electronic products and components rose 59.6% year on year to US$123.6 billion, while phone exports increased 18.8% to US$51.7 billion.

Foreign-invested firms drive electronics exports

The rapid growth has deepened Vietnam’s integration into global electronics supply chains, with production largely driven by foreign-invested multinational companies such as Samsung, LG, Amkor Technology, Foxconn, Luxshare and Goertek.

Rapid growth in foreign direct investment in electronics and semiconductors has created large-scale production and export capacity, making Vietnam an important link in global manufacturing networks. However, domestic companies remain limited in their participation in these supply chains, while many high-value components, materials and equipment still have to be imported.

The pattern is reflected in import figures. According to the National Statistics Office, imports of electronics, computers and components reached US$27.1 billion in September, up 93.7% year on year.

In January-September, imports of electronics, computers and components surged 71.7% year on year to US$188.9 billion. Imports of phones and components edged down 0.8% to US$8.1 billion, bringing total electronics imports to about US$197 billion.

Combined electronics trade turnover exceeded US$372 billion during the period, making up about 42% of Vietnam’s total trade turnover, although the sector was in deficit.

Fourth-quarter orders support export outlook

The fourth quarter is traditionally the peak export season. With many companies already holding signed orders, exports are expected to stay strong through the end of the year. Full-year electronics exports are forecast to reach a record US$235 billion-US$245 billion.

The strong export performance, however, also highlights the need to increase the domestic value generated by the sector and strengthen the role of Vietnamese suppliers in global electronics supply chains.

In mid-September, Standing Deputy Prime Minister Pham Gia Tuc called on electronics businesses to develop plans to raise domestic added value, expand their local supplier networks and gradually improve the trade balance.

The Ministry of Industry and Trade was tasked with working with relevant ministries, agencies, localities and associations to develop a programme connecting Vietnamese suppliers with domestic and foreign electronics, semiconductor and technology corporations based on product chains, technical standards and business needs.

Vietnam, RoK push cooperation in semiconductor and electronics sectors

VOV.VN - The Embassy of Vietnam in the Republic of Korea (RoK) hosted a roundtable on September 15, connecting nearly 30 RoK semiconductor and electronics enterprises.