Vietnam's import-export turnover up 28% in first seven months
Vietnam's total import-export turnover reached US$659.58 billion in the first seven months of 2026, up 28.1% year-on-year. However, imports outpaced exports, resulting in a trade deficit of US$20.52 billion, largely driven by stronger demand for imported raw materials, machinery and production inputs.
According to the National Statistics Office (NSO) under the Ministry of Finance, merchandise exports totalled US$319.53 billion between January and July, an increase of 21.7% compared with the same period last year.
The domestic economic sector contributed US$63.64 billion, up 5.8%, accounting for 19.9% of total exports, while the foreign-invested sector (including crude oil) generated US$255.89 billion, up 26.4%, representing 80.1% of total exports.
In the first seven months, 31 export items recorded turnover exceeding US$1 billion each, accounting for 93% of the total export value. Of these, seven products each generated more than US$10 billion, making up 69.7% of total exports.
Manufactured goods remained dominant, reaching US$287.91 billion and accounting for 90.1% of exports. Agricultural and forestry products earned US$22.79 billion (7.1%), seafood exports totalled US$6.86 billion (2.2%), while fuel and mineral exports reached US$1.97 billion (0.6%).
Meanwhile, merchandise imports rose 34.8% year-on-year to US$340.05 billion. Imports by the domestic sector reached US$92.14 billion, up 24.1%, while the foreign-invested sector imported goods worth US$247.91 billion, an increase of 39.2%.
A total of 40 imported products exceeded US$1 billion in value each, accounting for 93% of the total imports. Two products each recorded import turnover above US$10 billion, representing 52% of the total imports.
Production inputs accounted for 94.1% of imports, equivalent to US$319.95 billion. Machinery, equipment, tools and spare parts made up 56.9% of imports, while raw materials and fuels accounted for 37.2%. Consumer goods imports totalled US$20.1 billion, or 5.9% of the total.
The US remained Vietnam's largest export market, with exports valued at US$104.7 billion in the seven-month period, while China continued to be the country's largest source of imports, supplying goods worth US$138.6 billion. As such, Vietnam recorded a trade surplus of US$91.4 billion with the US, up 22.6% year-on-year, while its trade deficit with China widened to US$93 billion, an increase of 39.7%.
To further boost exports, NSO Director Nguyen Thi Huong recommended the Government to continue implementing measures to promote exports, step up trade promotion activities, diversify supply chains, production networks and export markets, while improving product quality and integrating more deeply into regional and global supply chains.
She also called for better utilisation of existing free trade agreements (FTAs), stronger exports to key markets, and greater efforts to tap into emerging markets, including Halal, Latin American and African markets, with the aim of achieving a sustainable trade surplus.
In addition, she proposed providing businesses with timely market information, helping them comply with new export standards, supporting them in anti-dumping cases, facilitating access to finance, and encouraging the adoption of advanced technologies to improve product quality, enhance added value and expand export markets.
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).
