AsemconnectVietnam - In August of 2026, the export value of phones and components reached US$7.08 billion, up by 4.17% from the previous month and 23.8% year-on-year.

For the first eight months of 2026, the country’s total export value stood at US$45.58 billion, a 19.4% increase compared to the same period last year. This sector remained one of Vietnam's key export categories, contributing significantly to overall export growth. Notably, the growth rate in August alone exceeded the cumulative growth rate for the eight-month period, indicating an improving export trend in recent months and establishing a positive foundation for performance in the final months of the year.
China, the United States, the EU, and South Korea remained the largest export markets for Vietnamese phones and components during the first eight months of 2026, accounting for the majority of total export value. However, the market structure is shifting, with exports to certain Asian markets, particularly South Korea and Japan, growing more rapidly than those to the US and the EU. Additionally, markets in the Americas, Africa, and Oceania recorded strong growth, helping to expand the industry's export reach.
China remained the largest export market during the first eight months of 2026, with exports reaching US$9.59 billion, up by 16.81% year-on-year. This market accounted for 21.05% of the total, a slight decrease from the 21.51% share recorded in the same period the previous year. In August alone, the exports to China reached $1.44 billion, up by 19.22% from the previous month but down by 12.81% year-on-year. These results indicate that while China remains a crucial market for Vietnam's mobile phones and components, its growth rate has not been particularly outstanding compared to other markets.
The United States ranked second in terms of export value, reaching $8.62 billion in the eight-month period, a 14.49% increase. Its share of total exports stood at 18.91%, down from 19.72% during the same period last year. In August specifically, exports to the US totaled $1.50 billion; this figure remained virtually unchanged from the previous month but surged by 41.40% year-on-year. Although the US market maintained solid growth, its rate trailed the industry's overall 19.39% increase for the eight-month period, suggesting that while the US remains significant in terms of volume, it is not the fastest-growing market.
South Korea continued to be the standout performer among key export markets. Export value for the eight-month period reached $4.71 billion, a massive 74.44% increase, raising its market share from 7.07% to 10.34%. In August alone, the exports to South Korea hit $726.51 million, up by 109.41% year-on-year. This rapid growth contributed significantly to the industry's overall expansion, cementing South Korea's position as an increasingly vital export market for Vietnamese mobile phones and components.
The exports to Japan also showed positive growth, reaching $1.83 billion over the eight-month period, a 55.63% increase, which raised its market share from 3.08% to 4.01%. However, in August alone, the export value to Japan fell by 46.98% compared to July, though it still rose by 30.49% year-on-year. Alongside South Korea, Japan is emerging as a high-growth market, contributing to the expansion of Vietnam's export reach for phones and components.
The exports to the EU in August totaled $961.56 million, up by 42.84% from the previous month and 34.80% year-on-year. For the eight-month period, the total value reached $5.48 billion, a 12.43% increase; however, this growth rate lagged behind the industry average, causing the market share to drop from 12.76% to 12.02%. Performance varied significantly across individual EU markets. The exports to Germany reached $866.44 million (up by 50.18%) and to the Netherlands reached $916.63 million (up by 19.87%), while the exports to France rose by 11.24%. Conversely, the exports to Italy, Slovakia, and Poland declined by 9.54%, 44.48%, and 46.82%, respectively. This indicates uneven demand recovery across EU markets.
The exports to ASEAN over the eight-month period totaled $1.80 billion, an increase of 17.40%. Within this region, the exports to Thailand reached $723.60 million, up by 33.81%, while the exports to Malaysia reached US$334.86 million (up by 25.31%), while those to the Philippines hit US$259.77 million (up by 37.35%). These markets showed significant growth, indicating continued improvement in demand for phones and electronic devices across Southeast Asia. However, the exports to Singapore and Indonesia declined by 4.21% and 16.59%, respectively.
Meanwhile, the exports to several other markets experienced notable declines. Shipments to Hong Kong totaled US$714.09 million (down by 23.02%), while the exports to Indonesia fell by 16.59%, Italy by 9.54%, the UK by 3.56%, and Mexico by 3.45%. Even more significant drops were recorded for Slovakia (down by 44.48%) and Poland (down by 46.82%). These declines suggest that demand for electronic products has not yet recovered uniformly across different regions and markets.
Notably, South Korea stands out as the market with the most significant growth and increase in market share, while Japan has also shown marked improvement. Meanwhile, strong growth in markets such as Peru, South Africa, Armenia, Chile, and Canada indicates a gradual expansion of export markets. However, China, the United States, and the EU still accounted for 51.98% of the total export value for the eight-month period; consequently, the industry's export performance remained heavily dependent on demand trends in these major markets.
Source: VITIC