AsemconnectVietnam - According to the statistics figures from the General Department of Vietnam Customs, the total value of Vietnam’s exports to the Russian market reached $1.66 billion in the first 9 months of 2026, a slight decline of 5.51% compared to the same period last year.

Overall, the export situation reveals a clear divergence between traditional product categories and industrial goods or raw materials.
In the nine-month period, several product groups experienced remarkable growth. Iron and steel products saw the most significant surge, with export value reaching $43.02 million, an increase of 639.61%. This was followed by petroleum products, which reached $41.40 million, up by 520.24%. Consumer goods and processed agricultural products also maintained impressive growth: items made from rattan, bamboo, sedge, and carpets rose by 285.01%; rubber products increased by 62.86%; ceramics grew by 47.94%; and computers, electronic products, and components saw an increase of 44.2%. Seafood-a key export, maintained a steady growth rate of 11.58%, reaching $177.27 million and accounting for 10.66% of the total export value. Meanwhile, coffee remained a major contributor, generating $353.69 million, representing 21.28% of the total, with a modest increase of 0.75%. The "other goods" category reached $440.14 million, an increase of 27.95%, accounting for the largest share at 41.01%.
Conversely, several light industrial sectors experienced significant declines, which were the primary drivers behind the drop in total export turnover. Most notably, textiles and garments fell by 61.99%, reaching only $171.08 million. Footwear of various types decreased by 36.44% to $10.28 million; handbags, wallets, suitcases, hats, and umbrellas saw a 41.34% decline; and cashew nuts dropped by 17.72%. Additionally, other machinery, equipment, tools, and spare parts saw a slight decrease of 2.4%, totaling $160.22 million.
These fluctuations stem from structural shifts in domestic demand within Russia. The Russian market has seen a sharp rise in demand for imported inputs, such as iron and steel, petroleum products, rubber goods, and electronics to support construction, infrastructure, and energy sectors, effectively compensating for supply shortages from Western nations. Meanwhile, demand for essential food items, fresh agricultural produce, and Vietnamese seafood remains high, bolstered by a strong reputation for quality. In contrast, purchasing power for non-essential consumer goods, such as apparel and footwear, has weakened due to inflationary pressures, rising logistics costs, and intense competition from both domestic suppliers and those in neighboring countries.
It is projected that exports to Russia may see a modest recovery in the fourth quarter of 2026, driven by year-end seasonal factors. The demand for stocking up on goods and food products, such as seafood, fruits and vegetables, confectionery, and tea, in preparation for the holiday season is expected to help the agricultural and food sector maintain a strong growth momentum. Industrial raw materials and electronic equipment are also projected to continue showing positive growth.
Conversely, the textile, garment, and footwear sectors are unlikely to see a turnaround in the short term. The total export turnover to Russia for the full year 2026 is estimated to reach approximately $2.2–$2.3 billion, a figure roughly on par with or slightly lower than that of 2025.
Source: VITIC