Electronics exports soar as United States becomes Vietnam’s top market
VOV.VN - Vietnam’s electronics exports have maintained strong momentum in the first ten months of the year, making a significant contribution to the country’s trade growth and achieving a major breakthrough in the US market.
Statistics from the Vietnam Customs show that exports of computers, electronic products, and components in October alone reached US$9.79 billion, raising the 10-month export value to US$87.29 billion, up 47.9% year on year.
This category now accounts for 22.3% of total national exports and 51.8% of overall export growth, further underscoring the sector’s key role in Vietnam’s trade performance.
The US remained Vietnam’s largest consumer market, importing US$34.14 billion worth of electronics, a year-on-year increase of 78%.
Other major markets also sustained strong growth, with exports to China totaling US$13.98 billion, up 39.8%, Hong Kong (China) US$8.81 billion, up 29.6%, the EU US$8.79 billion, up 11.5%, and the Republic of Korea (RoK) US$7.05 billion, up 55.4%.
Exports of phones and components saw more modest growth, bringing back US$48.67 billion over ten months, up 4.7%. Shipments to China fell 3.6%, while exports to the US and EU rose 3.5% and 8.1%, respectively.
On the import side, October recorded US$39.45 billion, down 1% from September, marking the third consecutive monthly drop. By the end of October, total imports reached a record US$371.44 billion, up 18.6%.
Imports of computers, electronic products, and components fetched US$13.1 billion in October, down 6% month on month. However, imports in the first 10 months surged to US$123.15 billion, representing a rise of 39.1% and accounting for nearly 33% of total imports. Remarkably, this figure has exceeded the entire 2024 by around US$16 billion.
Major suppliers were China (US$42.97 billion, +50.3%), the RoK (US$30.9 billion, +17.1%), Taiwan (US$19.42 billion, +71%), and Japan (US$7.02 billion, +20.9%).
FDI enterprises continued to dominate, generating US$550.1 billion in total trade turnover, up 25%, with exports rising 22.8% to US$295.66 billion and imports up 27.6% to US$254.44 billion. In contrast, domestic firms recorded only modest gains, with total turnover up 1.4% to US$212.34 billion, exports down 0.4% to US$95.34 billion, and imports up 2.8% to US$117 billion, highlighting challenges in capacity and competitiveness.
Electronics lead Vietnam’s trade, with China the largest supplier
Computers, electronic products and components continued to dominate Vietnam’s trade in August, both in exports and imports, according to the Department of Customs under the Ministry of Finance.
