Vietnam third top chip exporter to the US
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Vietnam accounted for 10% of semiconductor chip exports to the U.S. in the 12 months ending this February, ranking third after Malaysia and Taiwan.
The Vietnam chip industry’s revenue from the U.S. market rose by 74.9% during the period, from $321.7 million in February 2022 to $562.5 million this February, according to a report by the Ministry of Information and Communications.
Vietnam is also among the countries with the highest growth rate of chip exports to the U.S., alongside Thailand, India and Cambodia.
Cambodian chip exports to the U.S. grew in value 7-fold over the period, from $20.8 million to $166.3 million, while Indian revenues from the market grew 34-fold to $152 million in February.
In February, semiconductor chip export orders to the U.S. reached $4.86 billion, up 17% year-on-year. Among those, chips made in Asia accounted for 83%.
Bloomberg reported that the U.S. is diversifying its electronics supply chain by reducing the share of chip imports from Malaysia, a longtime powerhouse in chip packaging, alongside moving its iPhone production chain out of China.
At a government meeting in April, Prime Minister Pham Minh Chinh assigned the Ministry of Planning and Investment the tasks of improving the National Innovation Center, and developing a chip production program.
Experts believe Vietnam has the potential to be a global center of chip production if it can utilize its advantages and implement effective strategies, policies, and incentives for the sector.
Intel’s Asia Pacific and Japan General Manager Steve Long told VnExpress last year: “Vietnam can establish the necessary infrastructure and policies to support cutting-edge chip manufacturing.”
Questions & Answers
Q.What was the total value of semiconductor chip exports to the U.S. In February, and how much did Asian countries contribute?
What was the total value of semiconductor chip exports to the U.S. In February, and how much did Asian countries contribute?
Total semiconductor chip export orders to the U.S. Reached $4.86 billion in February. Chips made in Asia accounted for 83% of these orders, showing a strong regional presence in the market.
Q.Which countries experienced the highest growth in chip exports to the U.S. Alongside Vietnam during the period mentioned?
Which countries experienced the highest growth in chip exports to the U.S. Alongside Vietnam during the period mentioned?
Alongside Vietnam, Thailand, India, and Cambodia were among the countries with the highest growth rates of chip exports to the U.S. Cambodia's exports grew seven-fold, and India's 34-fold.
Q.What actions is the Vietnamese government taking to support its domestic chip industry?
What actions is the Vietnamese government taking to support its domestic chip industry?
The Prime Minister assigned the Ministry of Planning and Investment tasks including improving the National Innovation Center. They are also developing a specific chip production program to bolster the sector.
Q.Why is the U.S. Reportedly diversifying its electronics supply chain, and what are some examples of this strategy?
Why is the U.S. Reportedly diversifying its electronics supply chain, and what are some examples of this strategy?
The U.S. Is diversifying its supply chain by reducing its reliance on chip imports from Malaysia, a major chip packaging hub. It is also moving its iPhone production chain out of China as part of this strategy.
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