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Vietnam now exports more electronics than sneakers and t-shirts

Samsung as we reported earlier today, is shifting more and more of its smartphone manufacturing from China to Vietnam, where labor is cheaper. And it’s worth a look at how fast that’s changed the complexion of Vietnam’s export sector in general. In recent years a surge in foreign direct investment pushed production of mobile phones and components sharply higher. Now exports of the devices account for a larger share of the country’s total exports than footwear and even textiles. Electronics exports accounted for 23% of all exports through the first five months of 2013. This great chart from JP Morgan economists lays out the story.

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