Philippine and Vietnamese Exports to U.S. Surge Amid Supply Chain Shifts

News: Vietnam’s exports to the US surged 24% year-on-year in Q2, ranking second in ASEAN, following the Philippines’ 35% rise, according to Nikkei Asia.

In the semiconductor and machinery sectors, Vietnam saw a 41% increase, with the Philippines, Thailand, and Malaysia recording gains of 36%, 16%, and 9%, respectively.

Major tech companies, including Samsung, have established factories in northern Vietnam.

Barry Weisblatt of VNDirect Securities highlighted Vietnam’s rising share in US imports, driven by improved diplomatic ties, competitive manufacturing, and skilled labor, which is expected to continue regardless of the US presidential election.