Vietnam’s share of phone-related exports has seen a notable jump from almost zero in less than 15 years, according to the bank.

Vietnam has made
progress in climbing up the tech value chain and elevated its importance in
final electronics assembly, specializing in finished consumer electronics, the
Government News quoted  HSBC  report “Vietnam at a glance,” released on
December 12, as reporting.

Thanks to Samsung’s consistent investment as early as 2007,
the nation has been transformed into a major manufacturing centre, producing
half of Samsung’s smartphones, HSBC said.

Vietnam’s share of phone-related exports has seen a notable
jump from almost zero in less than 15 years, though it has seen some recent
moderation, it added.

Besides consumer electronics, Vietnam is also becoming
increasingly important in producing processor ICs – a higher value-add segment
than just electronics assembly. This is almost entirely thanks to investment
from Intel, which produces 90 percent of global processor chips, according to
the bank.

It noted that in 2013, 60 per cent of Vietnam’s goods
exports to the U.S. were in light manufacturing sectors, like textile, footwear
and toy products. Back then, electronics products only accounted for a marginal
13 per cent.

However, the trend has shifted rather swiftly and
electronics exports have seen an exponential surge. Since the beginning of
2025, electronics products have exceeded light manufacturing to be the top
exports to the U.S. market, HSBC remarked.

According to the bank, while most regional peers have seen
notable moderation in their exports to the U.S., Vietnam’s export growth
remains close to 30 per cent year-on-year on a 3-month-moving-average basis.

During January-November, the U.S. remained the biggest importer
of Vietnamese goods with $138.6 billion, reported the National Statistics
Office.

In October alone, the country’s total export turnover
reached $42.05 billion, up 17.5 per cent year-on-year, driven by strong growth
in key sectors such as electronics and computers (up 47.9 per cent), phones
(4.7 per cent), machinery (12.2 per cent), and transport equipment and parts
(13.5 per cent).

By the end of October, cumulative exports in the electronics
sector reached $136 billion, setting a record since the industry began
exporting. With nearly 50 per cent year-on-year growth, the electronics,
computers, and components industry has firmly established itself as a
cornerstone of Vietnam’s exports.

VGP-Khanh Van