AsemconnectVietnam - Vietnam's merchandise import-export activities in the first seven months of 2026 continued to show significant shifts in turnover volume, reflecting the economy's positive growth momentum; however, this also presented challenges regarding the trade balance, as a trade deficit of US$20.52 billion was recorded.

According to data released by the General Statistics Office (Ministry of Finance), Vietnam’s total value of merchandise imports and exports in July of 2026 reached $109.75 billion, up by 5.3% from the previous month and 33.0% year-on-year.
For the first seven months of 2026, the total merchandise import-export value reached $659.58 billion, a 28.1% increase compared to the same period last year. While the exports maintained a growth rate of 21.7%, the imports grew more rapidly at 34.8%. This disparity in growth rates caused the trade balance to shift to a deficit of $20.52 billion, driven primarily by rising demand for raw materials, machinery, and goods to support production and investment activities.
Regarding exports specifically, the turnover in July 2026 reached $53.08 billion, up by 4.5% from the previous month. Of which, the export turnover of the domestic sector reached $10.27 billion (up by 2.7%), while that of the FDI sector (including crude oil) reached $42.81 billion (up by 5.0%). Compared to the same period last year, the export turnover in July of 2026 recorded a growth rate of 25.0%, with the domestic economic sector rising by 14.0% and the FDI sector surging by 27.9%.
In the first seven months of 2026, the total goods export turnover reached US$319.53 billion, an increase of 21.7% year-on-year. The FDI sector continued to assert its pivotal role, contributing US$255.89 billion, accounting for 80.1% of the total export value and growing by 26.4%. Meanwhile, the domestic economic sector reached US$63.64 billion, representing a 19.9% share and growing by 5.8%.
In the first 7 months of this year, 31 product categories achieved export turnover exceeding US$1 billion, contributing 93.0% of the total export value; notably, seven categories surpassed the US$10 billion mark, accounting for 69.7% of the total.
Regarding the product structure, processed industrial goods maintained a dominant position with a value of US$287.91 billion, accounting for 90.1% of the total turnover. The other product groups that held more modest shares included agricultural and forestry products reached US$22.79 billion (7.1%); aquatic products reached US$6.86 billion (2.2%); and fuels and minerals reached US$1.97 billion (approximately 0.6%).
Conversely, import activities also recorded significant growth. Specifically, the import turnover in July of 2026 reached US$56.67 billion, up by 6.1% from the previous month. Of this, the FDI sector accounted for US$42.87 billion, an increase of 9.3%, while the import value of the domestic economic sector reached $13.8 billion, a decrease of 2.8%. Compared to the same period last year, the imports in July of 2026 rose by 41.4%, with the domestic sector increasing by 23.7% and the FDI sector by 48.2%.
In the first seven months of 2026, the country’s total import turnover reached $340.05 billion, up by 34.8% year-on-year. The domestic economic sector contributed $92.14 billion (up by 24.1%), while the FDI sector reached $247.91 billion (up by 39.2%).
In the first 7 months of this year, 40 import items recorded a turnover exceeding $1 billion, accounting for 93% of total import value (including two items exceeding $10 billion, which accounted for 52.0%).
Notably, the import structure was heavily concentrated on production materials, valued at $319.95 billion and accounting for 94.1% of the total turnover. Within this group, machinery, equipment, tools, and spare parts made up 56.9%, while raw materials and fuels accounted for 37.2%. Conversely, consumer goods represented only 5.9% of the total, with a value of $20.1 billion.
Regarding markets, the United States remained Vietnam's largest export market, with a turnover of $104.7 billion. China was the largest import market, with a turnover of $138.6 billion.
In the first 7 months of 2026, the trade surplus with the United States reached $91.4 billion, up by 22.6% year-on-year; the surplus with the EU was $26.6 billion, an increase of 19.9%; The trade surplus with Japan reached $1.5 billion (up by 12.5%), while trade deficit were recorded with China ($93.0 billion, up by 39.7%), South Korea ($32.4 billion, up by 86.9%), and ASEAN ($12.2 billion, up by 45.8%).
Based on these results, the merchandise trade balance for July of 2026 was estimated to show a deficit of $3.59 billion. In the first 7 months of 2026, the country recorded an overall trade deficit of $20.52 billion (compared to a surplus of $10.35 billion during the same period last year). Specifically, the domestic economic sector posted a deficit of $28.5 billion, whereas the FDI sector (including crude oil) maintained a surplus of $7.98 billion. This situation reflected a period in which enterprises are concentrating resources on importing inputs to support production and investment growth targets in the near future.
CK
Source: VITIC/ vneconomy.vn