Phone exports surpass US$42 billion amid order shift toward Asia
VOV.VN -Vietnam’s phone and component exports reached US$42.16 billion from the beginning of the year to August 15, 2026, up over 18% year-on-year, pushed by a strong shift in export orders toward the Asian market.
In July alone, export revenue of phones and components exceeded US$6.8 billion, up 27.8% from June and 22.16% from the same period in 2025. Cumulative exports for the January-July period stood at US$38.49 billion, up 18.6% year-on-year, before hitting US$42.16 billion by mid-August.
China, the US, the EU, and the Republic of Korea (RoK) continued to be Vietnam's largest export markets. However, market structure is shifting as exports to Asian markets, particularly the RoK and Japan, grew significantly faster than those to the US and the EU.
Specifically, in the first seven months of 2026, China was the largest destination, accounting for US$8.15 billion (up 24.29%), showing tighter integration between Vietnam and regional electronics supply chains. The US followed with US$7.12 billion (up 10.07%), remaining a key market but no longer the primary growth engine. Exports to the EU reached US$4.52 billion (up 8.59%).
The RoK and Japan emerged as bright spots in Asia. Shipments to the RoK surged 69.28% to US$3.99 billion, linked to the expanded operations and investment of RoK electronics giants in Vietnam.
Exports to Japan also posted strong growth of 58.95% to US$1.65 billion, while the ASEAN market rose 16.74% to US$1.56 billion, contributing to market diversification. Conversely, several markets recorded notable declines, including Hong Kong, the UK, Mexico, and Argentina.
Despite high export turnover, over 99% of the sector's total revenue continues to be generated by foreign direct investment (FDI) enterprises. This highlights a structural characteristic of Vietnam's phone industry, where manufacturing and exports remain heavily reliant on foreign multinational corporations, with domestic firm participation limited in high-value-added stages.
Phone exports to US bring in nearly US$2 billion over two months
VOV.VN - The United States was the largest consumer of Vietnamese phones and components over the past two months, spending US$1.95 billion on the items, according to the Ministry of Industry and Trade (MoIT).
