Computer and electronic component exports to US soar

15:46 | 14/01/2025 Trade Follow Ven.vn on

(VEN) - According to statistics from the General Department of Vietnam Customs, Vietnam exported over US$10.5 billion worth of goods to the US in December 2024, an increase of 3.7 percent compared to November. For the entire year of 2024, exports to this market totaled nearly US$119.6 billion, a rise of 23.1 percent compared to 2023.

Vietnam exported over US$23 billion worth of computers and electronic components to the US in 2024, an increase of 36.3 percent compared to 2023 – Photo: The Hai

Currently, high-tech products account for more than half of Vietnam’s export value to the US, including consumer electronics, smartphones, garments and footwear. The remainder includes other products, such as furniture and farm produce.

In 2024, computers, electronic products and components topped the list of Vietnam’s exports to the US, with the value reaching over US$23.2 billion, up 36.3 percent compared to 2023, accounting for 19.4 percent of the total export value.

The export value of machinery, equipment, tools and spare parts reached US$22.05 billion, up 21.1 percent compared to 2023, accounting for 18.4 percent of the total. Textile and garment exports reached US$16.1 billion, accounting for 13.5 percent of the total.

The products with higher export value in 2024 compared to 2023 include plastic products, up 42.4 percent; steel, up 54.8 percent; pepper, up 84.2 percent; animal feed and raw materials, up 42.9 percent; glass and glass products, up 88.1 percent; and tea, up 47.5 percent.

Vietnam has become a major trading partner of the US and a key link in the supply chain for various goods to this market. In 2024, Vietnam was the eighth largest trading partner of the US, accounting for 4.13 percent of the total value of exports to this market.

Among Vietnam’s exports to the US, electronics, agricultural products, seafood, furniture, and decorations hold a very important position. These groups of products are Vietnam’s advantages, for which the US has high demand.

Exports to the US, the largest export market for Vietnamese goods, are forecast to experience significant fluctuations in 2025 due to new trade policies of President-elect Donald Trump.

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