Vietnam’s exports to the US in the second quarter of this year rose 24% year-on-year, ranking second in the ASEAN region after the Philippines, according to trade data published by Nikkei Asia recently.

Exports from the Philippines to the US in the quarter surged 35% year-on-year.

The 10 ASEAN nations's total export revenue to the US reached $74 billion, up 11% compared to the same period last year and exceeding the figure to China ($71 billion).

Apart from the good resilience of the US economy, the export growth of ASEAN to this market was also attributed to the supply chain shift, according to Mr. Jun Neri, Chief Economist of the Bank of the Philippine Islands.

The prolonged lockdown in China during the Covid-19 pandemic has forced multinational companies to relocate their production back home or to neighboring countries, he said.

In the semiconductor and machinery sectors, based on classifications by the World Customs Organization, Vietnam’s exports to the US in the period soared 41% year-on-year. The Philippines, Thailand, and Malaysia followed with respective increases of 36%, 16% and 9%.