Exports and Imports of Electronics, Computers, and Components – A Key Driver of Vietnam’s Export Growth (2016–2025)

Over the past decade, the electronics, computers, and components industry has emerged as one of the largest pillars of Vietnam’s economy, making substantial annual contributions to export turnover and generating employment for a large number of workers.

In the first nine months of 2025, exports of electronics, computers, and components led the country’s export sectors, reaching over USD 77 billion. At the same time, imports surpassed USD 100 billion, hitting a record high of USD 110 billion.

These figures reflect the growing scale and influence of the electronics sector within Vietnam’s trade structure, while also highlighting significant challenges—particularly the heavy reliance on imported components, raw materials, and foreign-invested enterprises (FDI).

Remarkable Growth Over the Past Decade

Since 2016, the total export and import value of electronics, computers, and components has more than tripled. In 2016, export value stood at just USD 18.5 billion and imports at USD 27.8 billion. By 2024, these figures had risen to USD 68 billion and over USD 100 billion, respectively.

During the 2016–2024 period, the average annual growth rate of trade turnover for this sector reached 18.6%, significantly higher than the overall average growth rate of 10.2% for the country’s total exports and imports.

Development Phases and Key Characteristics of Vietnam’s Electronics, Computers, and Components Trade

2016–2020: FDI Boom and Supply Chain Expansion

This period marked the rapid entry and expansion of major electronics corporations. Industrial hubs such as Bac Ninh, Thai Nguyen, Hai Phong, and Bac Giang became global manufacturing centers.

Exports grew at an average rate of 25–30% per year, elevating this product group from fourth to second place in Vietnam’s export structure, just behind phones and components.

2021–2023: Stabilization with Slower Growth

The COVID-19 pandemic, global supply chain disruptions, and inflation placed significant pressure on the electronics industry.

However, thanks to a strong FDI foundation, exports continued to grow, albeit at a slower pace (around 3–4% annually). Meanwhile, imports of components increased rapidly to meet rising assembly demand, resulting in a continued trade deficit.

2024–2025: Surge in Imports

In 2024, imports of electronics, computers, and components reached USD 107.1 billion, surpassing the USD 100 billion mark for the first time and setting a historical record.

Exports, although increasing, reached only USD 72.6 billion, leading to a trade deficit of over USD 34.5 billion. Most components—such as circuit boards, sensors, and processors—are still imported from China, South Korea, and Taiwan.

This highlights the limited capacity of Vietnam’s supporting industries, which have yet to keep pace with the demands of the production chain.

Key Drivers of Growth

The strong growth in this sector has been driven by four main factors:

• Stable FDI inflows: Vietnam remains an attractive destination due to competitive labor costs, strategic geographic location, and favorable tax policies.
• Global supply chain shifts: The U.S.–China trade tensions have encouraged multinational corporations to relocate manufacturing from China to Vietnam.
• Export market expansion: Free trade agreements such as EVFTA, CPTPP, and RCEP have enabled deeper access to European, American, and Asian markets.
• Improved infrastructure and logistics: Upgraded industrial zones and major seaports such as Hai Phong, Cat Lai, and Cai Mep–Thi Vai have facilitated smoother trade activities.

Positive Structural Shift: Toward Higher Value Products

Despite existing limitations, Vietnam’s electronics export structure is gradually shifting from components and semi-finished goods to finished products.

Domestic companies such as Viettel, Bkav, FPT, and Vingroup (VinES, VinSmart) have begun participating in the design and production of smart devices and high-tech components, contributing to increased localization rates.

The development of semiconductors, IoT devices, batteries, and components for electric vehicles is also opening new prospects—especially as the government promotes a national strategy for the electronics and semiconductor industries toward 2030.

Conclusion

After nearly a decade of impressive growth, the electronics, computers, and components sector has not only established itself as a leading export driver but also become a key indicator of Vietnam’s industrialization capacity.

However, the heavy reliance on imported components and the FDI sector shows that Vietnam is still positioned in the middle tier of the global value chain.

In the coming decade, by effectively leveraging global supply chain shifts, developing supporting industries, and accelerating innovation, Vietnam has the potential to move up the value chain—from an assembly hub to a center for high-tech innovation and manufacturing.