In the first half of 2024, Samsung’s four Vietnam subsidiaries reported combined revenues of US$31.38 billion and increase of 8.6 percent year-on-year, according to The Investor. Samsung’s Thai Nguyen operations were the most successfully of the group accounting for about a third of said revenue.
This is a significant development in that Samsung accounts for a huge portion of Vietnam’s exports in dollar value terms. At times this has been as high as 20 percent though this is slowly coming down as more manufacturing firms set up shop in Vietnam.
Notably, in the first seven months of this year, Samsung reportedly exported about US$33.5 billion worth of product from Vietnam about 14.73 percent of the country’s total exports and about 46.42 percent of Vietnam’s exports of mobile phones and computers.
See also: Vietnam Exports Tracker: July 2024 Update [data set]