Vietnam’s Exports Soar as Manufacturers Shift Away From China’s Tech Capital Shenzhen

Chinese workers assemble electronic components at the Taiwanese technology giant Foxconn's factory in Shenzhen City, Guangdong Province, China, on May 26, 2010. AFP/AFP/Getty Images

Vietnam has seen a tremendous increase in its exports following Xi Jinping’s Zero-COVID policy imposing lockdowns in Shenzhen and Shanghai this spring.

According to Vietnam’s General Statistics Office (GSO), the country’s exports reached a record high of $34.7 billion in March. In comparison, Shenzhen’s exports were only $17.8 billion, down 14 percent from last year, according to the Shenzhen Bureau of Statistics.