According to recently released data from the General Department of Vietnam Customs, computers, electronic products, and components emerged as the primary growth driver among key export categories to the US. Revenue from this group surged from 10.7 billion USD to 17.1 billion USD in the first four months of the year. This increase of over 6.4 billion USD accounted for more than 60% of the total export growth to the US during the same period.
Beyond electronics, the machinery, equipment, and other spare parts category generated approximately 8.7 billion USD, an increase of over 1.5 billion USD compared to the same period. Meanwhile, telephones and components contributed about 3.7 billion USD.
The Vietnam Electronic Industries Association (VEIA) noted that while electronics exports continue their strong growth, the momentum largely stems from the foreign direct investment (FDI) sector. Most production and export activities are controlled by foreign corporations. Vietnamese enterprises primarily participate in supporting stages, which offer low added value.
While electronics gained speed, traditional export sectors recovered significantly slower. Textile and garment exports reached approximately 5.3 billion USD in the first four months, a slight increase from nearly 5.2 billion USD in the previous year's same period. Footwear exports hit about 3 billion USD, also a slight rise, but wood and wood product exports continued to decline to approximately 2.74 billion USD, down from 2.93 billion USD in the same period.
According to industry enterprises and associations, ongoing tensions in the Middle East and disruptions to shipping through the Red Sea are adding pressure to traditional export sectors. Goods traveling from Asia to the US East Coast must now reroute via the Cape of Good Hope, South Africa. This detour extends delivery times by 10-15 days, increasing logistics costs at a time when consumer purchasing power in the US has not fully recovered.
The Vietnam Textile and Apparel Association previously stated the industry faces dual pressures: rising input and transportation costs coupled with weakening consumer demand. Industry businesses report an 8-18% increase in raw material prices and an additional 4,000-5,000 USD increase in shipping costs per container. This situation forces many enterprises to split orders and diversify markets to mitigate risks. Currently, businesses are still carefully evaluating orders for export to this market.
Thi Ha
