Vietnam earned over $5.5 billion from exporting phones and accessories in January, a year-on-year increase of 11.4 per cent, figures from the General Department of Vietnam Customs show.

The figure also represents growth of 50.4 per cent compared to December.

The US remained Vietnam’s largest export market in January, with turnover of over $1.39 billion, followed by China with $734 million and South Korea with more than $330 million.

Export revenue of phones and accessories totaled over $52.3 billion last year, down 9.7 per cent compared to 2022.

Phones and accessories ranked second in export value, following computers, electronics, and components.

According to an HSBC report, Vietnam has held 13 per cent of the global smartphone market share since 2021, and is the second-largest smartphone exporter in the world.