According to the General Statistics Office (GSO), Vietnam’s total merchandise trade in the first seven months of the year reached USD 514.7 billion, up 16.3% year-on-year. Of this, exports amounted to USD 262.44 billion (up 14.8%), while imports increased by 17.9%. The trade balance posted a surplus of USD 10.18 billion.

During this period, 28 export items exceeded USD 1 billion, accounting for 91.7% of total exports; 9 items surpassed USD 5 billion, contributing 72.3%. Electronics, computers, and components reached USD 56.71 billion (up 41.9%); telephones and components USD 32.46 billion (down 0.4%); machinery, equipment, tools, and spare parts USD 32.2 billion (up 14.6%). Other groups such as textiles, footwear, vehicles, wood and wood products, seafood, and coffee also posted growth ranging from 8% to nearly 65%.

By product structure, processed industrial goods accounted for USD 232.37 billion (88.6%); agricultural and forestry products USD 22.4 billion (8.5%); seafood USD 6.08 billion (2.3%); fuels and minerals USD 1.59 billion (0.6%).

In terms of markets, the United States remained Vietnam’s largest export destination with USD 85.1 billion. On the import side, China continued to be the top source with USD 101.45 billion, accounting for 40.2% of the country’s total imports.

Customs data shows that Vietnam–China trade in the first seven months reached over USD 136 billion, up 21.3% year-on-year. Vietnam’s exports to China amounted to over USD 35 billion (up 7.8%), while imports exceeded USD 101 billion (up 27.2%), representing an increase of USD 21.71 billion compared with the same period last year.

With this growth, China remains Vietnam’s largest trading partner, the second-largest export market, and the primary source of goods and raw materials. Imports from China accounted for 40.2% of total national imports, up from 37.31% in the same period last year.

On the export side, several product groups exceeded USD 1 billion: computers, electronic products, and components USD 9.53 billion (up 37%); machinery, equipment, tools, and spare parts USD 9.53 billion (up 37%); telephones and components USD 6.56 billion (down 11.3%); wood and wood products USD 1.05 billion (down 12.9%).

On the import side, many product groups from China increased significantly. Computers, electronic products, and components reached USD 28.55 billion (up 47.1%); machinery, equipment, tools, and spare parts USD 21.32 billion (up 35.5%), accounting for 64% of the country’s total imports in this category. Notably, imports of completely built-up automobiles from China amounted to USD 888 million (up 70.4%), while automobile parts and components reached USD 1.17 billion (up 74.8%). Other products such as animal and vegetable oils and fats; gems, precious metals and products; cosmetics and personal care products also recorded double- and even triple-digit growth.

Source: Multilateral Trade Policy Department, Ministry of Industry and Trade