Bright prospects before peak season
Export activities in the first 7 months of 2026 showed many positive signs with turnover reaching US$319.53 billion, an increase of 21.7% compared to the same period last year. Many key industries recorded improved orders and a return to growth rates as the peak export season approaches.
Textiles and garments are one example; in July, export turnover reached US$4.672 billion, an increase of 8.2% compared to June and 4.3% compared to the same period last year, with a cumulative total of US$27.02 billion in the first 7 months, an increase of 2.67%. Although not yet reaching double-digit growth target, this result demonstrates the resilience of businesses in context of a still uncertain global market.
At Summer Economic Forum 2026 organized by Vietnam Economic Magazine at the end of July, Mr. Truong Van Cam, Vice Chairman of Vietnam Textile and Garment Association, commented that recovery of global consumer demand and the adaptability of businesses are creating a foundation for the industry to continue growing.
Notably, textile and garment industry is not aiming for growth by expanding production but is focusing on improving quality, self-sufficiency in raw materials, increasing product value and labor productivity. This is a necessary development direction as the growth model based on processing, cheap labor and capacity expansion has gradually reached its limits.
Electronics industry, on other hand, shows clearer growth momentum, with exports increasing by about 12-14% in the first six months of this year, depending on product group. The industry recorded a trade deficit of approximately US$12 billion, compared to a trade surplus of approximately US$2 billion in the same period of 2025.
Speaking at 2026 Summer Economic Forum, Ms. Do Thi Thuy Huong, Vice President and General Secretary of Vietnam Electronics Business Association, stated that this is not yet a cause for concern because most imports are machinery, equipment and production materials, serving to accelerate production in the second half of the year. “The peak season for the industry usually starts around September and October. When factories accelerate to fulfill orders for mobile phones and consumer electronics, the industry's trade balance is expected to improve, even returning to a surplus in the final months of the year”, Ms. Huong said.
Another strong driving force is e-commerce. In the first six months of the year, this sector grew by over 40%; specifically, the first quarter saw growth of approximately 46% and the second quarter approximately 41%, significantly higher than GDP growth rate.
Realizing goal of in-depth growth
Key export sectors are all aiming for double-digit growth in short term, contributing to achievement of economic growth target as set out in the Second Plenum of the 14th Central Committee of the Communist Party of Vietnam. However, in the long term, all sectors are concerned with how to make exports create more value for Vietnamese economy.
In electronics industry, businesses point out several bottlenecks such as investment procedures, land issues, tax refunds, certificates of origin and medium- and long-term capital. While the production and delivery cycle is only a few weeks, delays in factory expansion or machinery import can cause orders to shift to other countries.
This risk is even more apparent as global supply chain is restructuring. Vietnam has opportunity to attract new capital, technology and orders, but at the same time must compete with many destinations in the region. According to Ms. Do Thi Thuy Huong, capital is a crucial issue if Vietnam wants to improve its position in supply chain. Many processing and manufacturing businesses do not lack orders but lack medium- and long-term capital to invest in machinery, automation, robots, smart factories and increase productivity.
Therefore, double-digit growth based solely on investment expansion and production volume will be difficult to sustain. To achieve rapid growth while controlling inflation, the economy must simultaneously expand aggregate supply, increase productivity and enhance domestic value-added ratio.
E-commerce faces similar requirements. According to Mr. Nguyen Binh Minh, representative of Vietnam E-commerce Association, to maintain high growth rates, it is necessary to create a favorable "runway" for millions of households and individual businesses to transition to corporate model. "Our biggest goal in the remaining months of the year is to establish a transition process", Mr. Minh stated. This process needs to be standardized, digitized and simplified to reduce compliance costs.
Another issue that needs to be considered early is the cost of using technology, especially artificial intelligence (AI). As more and more businesses apply AI, the lack of guidance and standards could lead to wasted resources and even increase the trade deficit in technology services. This is a problem that needs to be addressed if the digital economy is to become a long-term growth driver.
Regarding timber industry, in the long term, the industry recommends reviewing tax policy on exported sawn timber, given that Vietnam imports approximately 6 million cubic meters of raw timber annually. A suitable policy could open up more production opportunities, create jobs, and contribute to trade balance.
It is clear that double-digit growth in key export industries is not just a short-term goal but is linked to sustainable, stable and self-reliant development in the long term. To achieve this, the industries jointly propose establishing a special task force under the Government to quickly address obstacles faced by manufacturing and exporting businesses.
In addition, coordination among financial, industrial and trade, science and technology, banking and local authorities is needed to ensure that issues related to investment, land, tax refunds, customs, logistics, electricity and credit are handled through a unified, faster and more efficient system.

Source: Vitic/ congthuong.vn