Vietnam’s goods trade tops $1 trillion for first time

Vietnam’s two-way merchandise trade crossed $1 trillion for the first time this year, with combined exports and imports reaching about $1 trillion by October 29. Preliminary customs data put exports at $493.64bn, up 27.2% from a year earlier, while imports climbed 37.6% to $507.66bn, according to Tuoi Tre News.

The threshold comes almost two decades after the country’s total goods trade first hit $100bn in 2007, the year Vietnam became a member of the World Trade Organization, according to Vietnam Customs. Foreign-invested companies and rising electronics shipments have driven much of the expansion, and the customs agency expects full-year exports to beat the government’s goal by a wide margin.

Faster import growth left Vietnam with a trade deficit of roughly $14.02bn for the period, as companies brought in more materials and equipment for upcoming production.

Firms with foreign investment generated about $778bn in trade between January and October 29. That was 37% more than a year earlier and accounted for over three-quarters of the national total. Domestic companies contributed approximately $223bn, an increase of 16%.

Three product groups led trade turnover: computers, electronic goods and components; phones and parts; and machinery, equipment, tools and spare parts. Together they brought in around $532bn, a 49% rise year on year and more than half of all trade.

China and the US stayed Vietnam’s two largest trading partners. Shipments to Japan grew 18.6%, while exports to South Korea rose 19.1%, to Canada 14.4% and to Mexico 42.5%.

Between 2016 and 2025, Vietnam’s cumulative trade turnover totalled $6.12 trillion, expanding at an average annual pace of 11%. The 2025 figure of $929.92bn was 2.65 times the level recorded in 2016.

The country is now the world’s 18th-largest exporter and 20th-largest importer. Within ASEAN, it ranks second for merchandise trade behind Singapore. Vietnam trades with 237 countries and territories, and has 36 export markets and 31 import markets each worth more than $1bn.

Vietnam Customs projects that full-year 2026 exports will grow by over 25% if the current pace continues, well above the government’s target of 15% to 16%.

Source: Intellinews