Vietnam’s merchandise trade expanded sharply in early 2026, with imports outpacing exports and pushing the trade balance into deficit, according to the latest release from the National Statistics Office.
Total merchandise exports and imports reached US$344.17 billion in the first four months of the year, up 24.2 percent year on year.
Exports rose 19.7 percent over the period, while imports increased faster at 28.7 percent, resulting in a trade deficit of US$7.11 billion.
In April alone, total trade turnover was estimated at US$94.32 billion, up 0.8 percent month on month and 26.7 percent year on year.
Exports
Exports reached an estimated US$168.53 billion in the first four months of the year, up 19.7 percent year on year, with the foreign-invested sector accounting for 80.0 percent of total shipments.
In April alone, exports were estimated at US$45.52 billion, down 2.0 percent month on month but up 21.0 percent year on year, as foreign-invested firms offset declines in the domestic sector.
Electronics, computers, and components led export growth at US$43.62 billion, up 49.1 percent, followed by phones at US$21.55 billion and machinery at US$20.60 billion.
Traditional export sectors showed mixed performance, with textiles rising 1.6 percent while footwear and wood products declined by 3.8 percent and 1.1 percent, respectively.
Processed industrial goods continued to dominate export structure, accounting for 89.9 percent of total turnover, far ahead of agriculture, seafood, and fuel exports.
Imports
Imports reached an estimated US$175.64 billion over the period, up 28.7 percent year on year, with the foreign-invested sector accounting for US$126.37 billion and expanding 32.3 percent.
In April alone, imports rose 3.6 percent month on month and 32.5 percent year on year to US$48.8 billion, led by gains in both domestic and foreign-invested sectors.
Electronics, computers, and components remained the largest import category at US$65.27 billion, up 52.3 percent, followed by machinery and equipment at US$21.10 billion.
Production materials dominated import structure, accounting for 94.2 percent of total turnover, underscoring continued reliance on imported inputs for manufacturing.
China remained Vietnam’s largest import market with turnover of US$69.0 billion, contributing to a trade deficit of US$46.4 billion, while the United States was the largest export market with US$53.9 billion.
Overall, Vietnam recorded a merchandise trade deficit of US$7.11 billion in the first four months of 2026, compared to a surplus of US$4.3 billion a year earlier, with the domestic sector posting a deficit and foreign-invested firms maintaining a surplus.