Vietnam trade continued its strong momentum during the first six months of 2026, with total import-export turnover reaching USD 549.69 billion, an increase of 27.1% compared with the same period last year. The latest figures highlight the country’s resilient manufacturing sector and growing demand for production inputs despite shifting global trade conditions.

While exports maintained healthy growth, imports expanded at an even faster pace as businesses increased purchases of machinery, equipment, and raw materials to support industrial production. As a result, Vietnam recorded a trade deficit of USD 16.65 billion during the first half of the year.

Exports continue to expand across key sectors

Vietnam’s total exports reached USD 266.52 billion in the first six months of 2026, representing a 21% year-on-year increase. Foreign-invested enterprises remained the primary growth driver, accounting for nearly 80% of total export value, while domestic businesses contributed just over 20%.

Vietnam also recorded 29 export products exceeding USD 1 billion in value, with five products generating more than USD 10 billion, demonstrating the country’s expanding manufacturing capacity and export competitiveness.

Import growth reflects stronger production demand

Imports increased even more rapidly than exports, reaching USD 283.17 billion, up 33.4% compared with the first half of 2025. The increase was largely driven by higher demand for production materials rather than consumer goods, reflecting continued expansion in manufacturing activities.

Production-related imports accounted for 94.1% of total import value. Machinery, equipment, tools, and spare parts represented the largest category, making up 56% of imports, while raw materials and fuels contributed another 38.1%. Consumer goods accounted for only 5.9%, indicating that import growth was primarily linked to industrial production and export manufacturing.

Trade deficit reflects investment in future production

Vietnam posted a trade deficit of USD 16.65 billion during the first half of 2026, compared with a trade surplus during the same period last year. However, the higher level of imports largely reflects stronger investment in production capacity rather than weakening export performance.

According to the General Statistics Office, faster import growth indicates increasing demand for machinery, equipment, and manufacturing inputs, particularly among foreign-invested enterprises that continue expanding production in Vietnam.

Major trading partners remain key growth drivers

The United States remained Vietnam’s largest export market, with export turnover reaching USD 86.5 billion during the first half of the year. China continued to be Vietnam’s largest source of imports, totaling USD 115.2 billion.

Vietnam generated a trade surplus of USD 75.3 billion with the United States, an increase of 21.3% year over year. The country also posted a USD 21.9 billion surplus with the European Union. Meanwhile, Vietnam recorded trade deficits of USD 77.3 billion with China, USD 26.4 billion with South Korea, and USD 10.1 billion with ASEAN, reflecting the country’s continued reliance on imported production materials and industrial components.

With rising industrial activity, diversified export markets, and sustained investment from foreign enterprises, Vietnam remains well positioned to support long-term trade growth in the second half of 2026.

Source: VOV World

01/07/2026