Trade turnover jumps 27% to US$550 billion in H1 2026
VOV.VN - Vietnam’s merchandise trade maintained strong momentum in the first half of 2026, with total import-export turnover reaching nearly US$549.69 billion, up 27.1% year on year, according to the National Statistics Office (NSO).
The robust performance reflected vibrant external trade activity and underscored the continued expansion of the economy, particularly in manufacturing and export-oriented industries.
Data shows exports rose 21% to US$266.52 billion, driven primarily by processed industrial products, which accounted for around 90% of total export value. Twenty-nine export items generated more than US$1 billion each, highlighting the growing competitiveness of Vietnamese products in international markets. Of these, five items exceeded US$10 billion each, representing 62.6% of export earnings.
Imports grew at a faster pace, rising 33.4% to US$283.17 billion. The increase was largely attributable to higher purchases of production inputs, including machinery, equipment and raw materials, reflecting stronger manufacturing demand, particularly from the foreign-invested sector.
As imports outpaced exports, Vietnam posted a merchandise trade deficit of US$16.65 billion during the six-month period. The deficit largely reflected increased imports of production inputs to support economic expansion rather than weakening export performance.
The United States remained Vietnam’s largest export market, with shipments valued at US$86.5 billion, while China continued to be its largest source of imports at US$115.2 billion.
Vietnam’s trade surplus with the United States widened 21.3% year on year to US$75.3 billion, while its surplus with the European Union rose 15.2% to US$21.9 billion. The surplus with Japan narrowed 5.0% to US$1.2 billion.
Meanwhile, Vietnam’s trade deficit with China expanded 39.0% to US$77.3 billion. Deficits with the Republic of Korea and ASEAN also widened, rising 81.0% to US$26.4 billion and 36.1% to US$10.1 billion, respectively.
Global trade shifts call for new import-export strategy
VOV.VN - Rapid changes in global trade patterns are prompting calls for Vietnam to redesign its import-export strategy, shifting the focus from scale-driven growth to a more comprehensive approach that prioritises quality, value addition and economic resilience.
