According to the latest statistics from the Industry and Trade Information Center of Vietnam’s Ministry of Industry and Trade, in the first three quarters of 2024, Vietnam’s phone and component exports reached $41.89 billion, representing a 7.2% year-on-year increase. This maintains the category’s position as Vietnam’s second-largest export commodity, only behind computers, electronic products, and their components, accounting for 14% of the country’s total export value.

Looking at monthly performance, Vietnam’s phone and component exports reached $4.62 billion in September 2024. However, this figure represents a 1.7% month-on-month decrease and an 8.3% year-on-year decline, indicating some pressure on monthly export growth.

Examining major export markets, China remains the largest destination for Vietnam’s phone and component products. In the first nine months of 2024, exports to China reached $10.86 billion, and despite a slight 1.4% year-on-year decrease, it maintained its position as the leading market with a 25.9% share of total exports in this category.

The U.S. market showed impressive performance, ranking second with exports of $8.02 billion, showing a substantial 28.8% year-on-year increase and accounting for 19.2% of total exports. South Korea ranked third with exports of $2.69 billion, representing 6.4% of the total, with a slight 0.6% year-on-year decrease.

Notably, Vietnam achieved significant breakthroughs in emerging markets. Exports to the UAE reached $2.54 billion, showing a remarkable 56.9% year-on-year increase, while exports to India were even more impressive at $1.42 billion, surging by 82.3% year-on-year, demonstrating these markets’ enormous development potential.

From an industrial structure perspective, the phone and component manufacturing sector has become one of Vietnam’s key pillar industries, with Samsung Electronics being the country’s largest phone and component exporter. In recent years, Vietnam’s position in the global phone industry chain has continuously strengthened, with product competitiveness steadily increasing.

Data from major export markets shows that Vietnam’s phone and component products have formed a diversified market pattern dominated by China and the United States, alongside emerging markets including South Korea, the UAE, and India. This market structure helps diversify trade risks and enhance the industry’s risk resistance capability.

Key Points:

• Vietnam’s phone and component exports reached $41.89 billion in the first 9 months of 2024, up 7.2% year-on-year.
• The category remains Vietnam’s second-largest export commodity, accounting for 14% of total exports.
• China is the largest export market at $10.86 billion, accounting for 25.9%.
• The U.S. ranks second with $8.02 billion in exports, up 28.8% year-on-year.
• Exports to emerging markets like UAE and India showed significant growth.
• September monthly exports reached $4.62 billion, showing decreases both month-on-month and year-on-year.
• Samsung is Vietnam’s largest phone and component exporter.
• A diversified export pattern has formed, led by China and the U.S., with multiple emerging markets.