Vietnam Trade Balance Swings to Deficit

Vietnam recorded a trade deficit of USD 1.1 billion in August 2026, shifting from a surplus of USD 3.7 billion in the corresponding month a year earlier. It was the ninth consecutive month of a trade deficit, but the smallest trade gap since March, as imports rose much more than exports. Factories continue to bring in more machinery and materials to expand production and reach double-digit GDP growth this year. Imports surged 37.9% from a year earlier to USD 54.91 billion, while exports jumped 26% to USD 54.8 billion. The trade outlook has come under greater scrutiny since the US imposed a 12.5% tariff on Vietnamese goods on July 24, 2026. For the first eight months of the year, the country posted a trade deficit of USD 20.46 billion, as exports increased 22.4% to USD 374.84 billion, while imports grew 35.3% to USD 395.30 billion.

Vietnam recorded a trade deficit of USD 3.6 billion in July 2026, shifting from a surplus of USD 2.3 billion in the corresponding month a year earlier. Exports rose 25% year-on-year to USD 53.1 billion, while imports jumped 41.4% to USD 56.7 billion. In the January-July period, the country posted a trade deficit of USD 20.5 billion, with exports increased 21.7% to USD 319.53 billion, while imports climbed 34.8% to USD 340.1billion. The cumulative deficit has already exceeded previous full-year record of about USD 18 billion set in 2008, with higher fuel costs contributing to import growth. Processed industrial goods accounted for an estimated USD 287.9 billion, or 90.1% of total exports. The US remained the largest export market, with exports estimated at USD 104.7 billion. Meanwhile, imports of production materials were estimated at USD 320 billion, representing 94.1% of total imports. China remained the largest source of imports, with import turnover estimated at USD 138.6 billion.

Vietnam recorded a trade deficit of USD 2.64 billion in June 2026, shifting from a surplus of USD 3.2 billion in the same month a year earlier. Exports grew 28.1% year-on-year to a record high of USD 50.79 billion, while imports rose at a faster pace of 45.2% to a record high of USD 53.43 billion. For the first half of the year, the country posted a USD 16.65 billion trade deficit, with exports rising 21.0% yoy to USD 266.52 billion, and imports surging 33.4% to USD 283.17 billion. During the period, exports of processed industrial goods were estimated at USD 239.8 billion, accounting for 90.0% of total exports. The US remained the largest export market, with exports estimated at USD 86.5 billion. Meanwhile, imports of production materials were estimated at USD 266.4 billion, accounting for 94.1% of total imports. China remained the largest source of imports, with import turnover estimated at USD 115.2 billion.