Vietnam, along with Thailand, India, and Cambodia, has led a significant increase in semiconductor chip exports to the US market this year, accounting for more than 10% of US imported chips for seven consecutive months.
| Semiconductor chips are the fundamental components of modern electronic devices. Source: Fair Observer |
The US Census Bureau data shows that US semiconductor chip imports reached US$4.86 billion in February 2023, an increase of 17% from 2022.
The Asian region accounted for 83% of the total semiconductor chips imported by the US from around the world.
India saw a 34-fold increase in semiconductor chip exports to the US, totaling $152 million, while Cambodia reported a remarkable 698% growth, generating $166 million in revenue, an unprecedented figure.
Vietnam and Thailand are major players in the semiconductor chip manufacturing market and have seen their trade with the US increase by 75% and 62%, respectively, according to Bloomberg News.
For seven consecutive months, Vietnam has accounted for more than 10% of the chips imported by the US from around the world.
In February 2023, Vietnam's semiconductor chip exports to the US reached $562.5 million, up from $321.7 million in February 2022. Vietnam ranks third in Asia in terms of semiconductor exports to the US, after Malaysia and Taiwan.
Recently, US officials have expressed concern about the country's reliance on foreign chip suppliers, particularly from South Korea and Taiwan, for advanced chip production. The latest data from February suggests that the US is diversifying its electronics supply chain, with moves such as Apple Inc. shifting iPhone production from China to India.
While Malaysia has traditionally been a leader in chip exports to the US, its market share fell to 20% in February.
Semiconductor chips are the basic components of modern electronic devices, including computers, phones, and home appliances.
