Vietnam's exports to Japan on track to top US$30 billion in 2026

VOV.VN - Vietnam's exports to Japan surged 15.36% year on year to nearly US$15 billion in the first half of 2026, putting shipments on course to exceed US$30 billion for the full year if current growth momentum continues.

According to preliminary data from Vietnam Customs, Vietnam exported approximately US$14.78 billion worth of goods to Japan in H1, underscoring the resilience and stability of bilateral trade despite continued uncertainty in the global economy.

The sharp increase in exports was driven primarily by technology, electronics and supporting industries, which were the country's leading export categories. Shipments of machinery, equipment, tools and spare parts increased 17.8% to US$1.53 billion.

Other products posting strong gains included chemicals, which surged 133% to nearly US$389 million, and toys and sports equipment, up 91.8% to more than US$491 million.

Among traditional export sectors, transport vehicles and spare parts rose 5.2% to US$1.67 billion, wood and wood products increased 5.6% to US$1.07 billion, while seafood exports edged up 2.4% to more than US$800 million.

The expansion has been fueled largely by the ongoing realignment of global supply chains, which has strengthened Vietnam's role as a key manufacturing and assembly hub for Japanese companies. At the same time, Japan's demand for industrial materials and supporting products has increased to support domestic production.

In contrast, several traditional billion-dollar export sectors faced declining shipments. Garments and textiles, historically Vietnam's largest export to Japan, fell 6.3% year on year to US$1.98 billion. Footwear exports dropped nearly 6% to US$561 million, while coffee exports declined almost 9% to approximately US$345 million.

The figures indicate a continued shift in Vietnam's export structure toward higher-value manufacturing and technology products.

Growth is expected to be supported by rising output across technology supply chains, together with stronger Japanese demand for consumer goods, agricultural products and seafood ahead of the year-end holiday season.

Vietnam is also set to benefit from more effective utilisation of tariff preferences under bilateral and multilateral free trade agreements, including the Vietnam-Japan Economic Partnership Agreement (VJEPA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP). A recovery in the Japanese yen would further enhance the competitiveness of Vietnamese exporters in the market.

Japan is currently Vietnam's fourth-largest trading partner, after China, the United States and the Republic of Korea. Bilateral trade reached US$51.5 billion in 2025, up 11.5% from 2024.

Vietnam's exports to Japan totaled US$26.8 billion last year, an increase of 8.8%, while imports from Japan rose 14.1% to US$24.7 billion, resulting in a trade surplus of US$2.1 billion for Vietnam.

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