Import and export show many bright spots
According to data from the Customs Department (Ministry of Finance), as of April 15th, total value of goods import and export nationwide reached $297.06 billion, an increase of 24.5% compared to the same period last year. This result is not only impressive in terms of scale but also shows the great efforts of businesses in face of difficulties caused by impact of the Middle East conflict.
In import and export structure, export turnover reached approximately $144.6 billion, an increase of 20.3%, while import reached $152.5 billion, an increase of 28.8%. The faster growth of import has caused trade balance to reverse, recording a trade deficit of $7.9 billion; In the first half of April alone, trade deficit reached $4.25 billion.
At first glance, trade deficit might cause concern for many. However, a closer examination reveals a double-edged sword. More than 90% of import value is concentrated in essential goods, indicating a strong increase in demand for imported raw materials and machinery for production – a sign of an expanding economy.
The first quarter of 2026 saw dominance of processed industrial goods, accounting for 89.9% of total export value. This continues to be the driving force behind Vietnam's foreign trade growth, with familiar items in global value chain.
Accordingly, export of electronics, computers and components reached $30.7 billion, an increase of 45.5%; telephones and components reached $16.7 billion, an increase of 19.3%; Machinery, equipment and spare parts exports reached US$15 billion, a 21.2% increase. These figures not only reflect scale but also demonstrate Vietnam's increasingly deep position in global supply chain, especially in sectors led by FDI.
Regarding other goods, despite the Middle East conflict disrupting global supply chains, Vietnam's textile and garment industry still recorded positive results, with export turnover in Q1 2026 exceeding US$8.8 billion, a 1.9% increase year-on-year and many businesses already having orders until the end of Q3 2026. This result shows significant efforts of businesses in textile and garment industry in overcoming difficulties and achieving high export turnover.
From another perspective, agricultural products – especially fruits and vegetables – emerged as a bright spot. Fruit and vegetable exports reached US$1.54 billion in Q1, a strong 32.1% increase year-on-year.
According to Vietnam Fruit and Vegetable Association, fruit and vegetable market continues to expand, with China playing a leading role, accounting for 54% of total export value. Markets such as the United States and South Korea account for 8% and 4.3% respectively. Notably, fruit and vegetable exports to Chinese market increased by 76.2%, and to the United States by 21.4%. Market structure is gradually becoming more diversified, no longer absolutely dependent on a single market. This growth trend is expected to continue in the second quarter as many types of fruit enter their main harvest season, aiming for a target of $10 billion in 2026.
Enhancing competitiveness of domestic businesses
Beneath surface of impressive growth figures, a reality that needs to be faced is increasingly clear differentiation between business sectors.
Foreign direct investment (FDI) sector continues to play a leading role, achieving import and export turnover of nearly US$226 billion, a 29.5% increase and accounting for over 76% of total turnover. Notably, this sector contributed nearly 88% of overall economic growth.
Conversely, domestic enterprise sector only reached approximately US$71.1 billion, accounting for less than 24%, with a growth rate of just over 10%. This gap is not only a matter of scale, but also a matter of competitiveness and ability to participate in global value chains.
In reality, sharp increase in imports is mainly concentrated in electronic components, machinery and equipment and raw materials – essential inputs for production. This explains why trade deficit is not yet a negative sign in the short term. However, in long term, if localization rate is not increased, the economy will continue to be heavily dependent on imports.
In an interview with a reporter from Industry and Trade Newspaper, Dr. Le Quoc Phuong, former Deputy Director of Center for Industrial and Trade Information (Ministry of Industry and Trade), stated that developing supporting industries is the "key" to success. When domestic businesses can supply raw materials and components to key export industries, it will not only reduce imports but also increase value retained domestically.
Challenge lies not only in production but also in standards. Domestic businesses need to meet increasingly stringent requirements regarding technology, environment and traceability to effectively utilize free trade agreements.
A prime example is the textile and garment industry. According to Mr. Vu Duc Giang, Chairman of Vietnam Textile and Garment Association, the industry is entering a new phase with stricter standards. International customers not only demand competitive prices and timely delivery, but also high standards of sustainability, forcing businesses to invest in technology, automation and even AI applications.
From a policy perspective, Ministry of Industry and Trade has proposed a series of strategic solutions: diversifying markets, promoting green exports, enhancing trade defense capabilities and effectively utilizing FTAs.
Mr. Nguyen Anh Son – Director of Import-Export Department (Ministry of Industry and Trade) emphasized that to develop sustainable exports in future, Vietnam needs to maximize 17 currently effective FTAs, while expanding markets to regions such as Asia and Europe to reduce dependence on transport routes through the Middle East.
Meanwhile, Statistics Department recommends a series of synchronized solutions: improving the capacity of domestic enterprises to participate in FDI supply chains; Diversifying raw material sources; reducing logistics costs; promoting customs digitalization; and shifting strongly towards exporting deeply processed goods.

Source: Vitic/ congthuong.vn