VIETNAM'S TRADE REACHES US$659.6 BILLION IN THE FIRST SEVEN MONTHS OF 2026 DESPITE A US$20.5 BILLION TRADE DEFICIT

The latest figures highlight robust manufacturing activity, increasing investment demand, and continued growth in Vietnam's global trade, reinforcing the country's position as one of Asia's fastest-growing trading economies.

Vietnam's total trade surpasses us$659 billion

According to the General Statistics Office (Ministry of Finance), Vietnam's total merchandise trade reached US$109.75 billion in July 2026, up 5.3% compared to June and 33% higher than the same month in 2025.

From January to July 2026, total trade value climbed to US$659.58 billion, driven by strong production demand, expanding exports, and rising imports of manufacturing inputs.

Key Trade Figures (January – July 2026)

• Total exports: US$319.53 billion (+21.7% YoY)

• Total imports: US$340.05 billion (+34.8% YoY)

• Trade balance: US$20.52 billion deficit

The faster growth in imports primarily reflects higher demand for machinery, industrial equipment, raw materials, and production components as businesses continue expanding manufacturing capacity.

Exports remain a key driver of economic growth

Vietnam exported US$53.08 billion worth of goods in July 2026, increasing 4.5% month-on-month and 25% year-on-year.

During the first seven months of the year:

• The FDI sector generated US$255.89 billion in export value, accounting for 80.1% of total exports and growing 26.4% compared to the previous year.

• The domestic sector exported US$63.64 billion, up 5.8%, representing 19.9% of total exports.

Vietnam also recorded 31 export commodity groups with values exceeding US$1 billion, contributing approximately 93% of total export turnover. Among them, seven commodity groups surpassed US$10 billion, accounting for nearly 70% of total exports.

Manufacturing continues to dominate export structure

Manufacturing remained the backbone of Vietnam's export sector, generating US$287.91 billion, equivalent to 90.1% of total export value.

Other export categories included:

• Agricultural and forestry products: US$22.79 billion (7.1%)

• Seafood products: US$6.86 billion (2.2%)

• Fuels and minerals: US$1.97 billion (0.6%)

The data underscores Vietnam's continued strength as a global manufacturing and export hub, supported by diversified industrial production and international supply chain integration.

Imports accelerate on strong production demand

Vietnam's import value reached US$56.67 billion in July 2026, increasing 6.1% from the previous month and 41.4% compared with July 2025.

For the first seven months of 2026:

• FDI enterprises imported US$247.91 billion, up 39.2%.

• Domestic enterprises imported US$92.14 billion, an increase of 24.1%.

A total of 40 import commodity groups exceeded US$1 billion, representing approximately 93% of total import value.

Importantly, 94.1% of total imports consisted of production inputs, including machinery, industrial equipment, components, and raw materials, while consumer goods represented only 5.9%.

This import structure reflects growing industrial activity as manufacturers prepare for increased production and export orders in the second half of the year.

The United States and China remain Vietnam's largest trading partners

The United States remained Vietnam's largest export destination, with exports totaling US$104.7 billion during the first seven months of 2026.

Meanwhile, China continued to be Vietnam's largest source of imports, with import turnover reaching US$138.6 billion.

Major Trade Balance Highlights

• Trade surplus with the United States: US$91.4 billion (+22.6%)

• Trade surplus with the European Union: US$26.6 billion (+19.9%)

• Trade surplus with Japan: US$1.5 billion (+12.5%)

• Trade deficit with China: US$93 billion (+39.7%)

• Trade deficit with South Korea: US$32.4 billion (+86.9%)

• Trade deficit with ASEAN: US$12.2 billion (+45.8%)

These figures illustrate Vietnam's continued dependence on imported industrial inputs while maintaining strong export performance across major international markets.

Growing opportunities for the logistics industry

The rapid increase in imports of machinery, equipment, and manufacturing materials indicates that businesses are investing in production expansion to support future export growth.

As international trade volumes continue to rise, demand for international freight forwarding, customs brokerage, warehousing, multimodal transportation, and integrated logistics solutions is expected to remain strong.

For importers and exporters, partnering with experienced logistics providers will be essential to optimizing supply chain efficiency, reducing transportation costs, ensuring customs compliance, and maintaining reliable delivery schedules in an increasingly competitive global marketplace.

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