Vietnam’s total trade reached a record $770.14 billion in the first eight months of 2026, with 33 export products generating more than $1 billion each. However, the country posted a $20.46 billion trade deficit, reversing a surplus recorded a year earlier.

Data released by the Statistics Office under the Ministry of Finance on September 3 showed that Vietnam’s total merchandise exports and imports reached $109.7 billion in August 2026, down 0.1% from the previous month but up 31.7% year on year.

For the first eight months of 2026, total merchandise trade reached $770.14 billion.

According to the statistics agency, this was the highest figure ever recorded for the first eight months of a year, representing an increase of 28.7% from the same period last year. Exports rose 22.4%, while imports climbed 35.3%.

Vietnam’s merchandise exports reached $54.79 billion in August, up 3.2% from the previous month.

The domestic sector contributed $10.5 billion, an increase of 2.2%, while the foreign-invested sector, including crude oil, generated $44.29 billion, up 3.4%.

Compared with August 2025, exports rose 26%, with the domestic sector recording growth of 14.1% and the foreign-invested sector, including crude oil, posting an increase of 29.2%.

Over the first eight months, merchandise exports totaled $374.84 billion, up 22.4% year on year.

The domestic sector accounted for $74.47 billion, up 7.4% and representing 19.9% of total exports. The foreign-invested sector, including crude oil, generated $300.37 billion, an increase of 26.9%, and accounted for 80.1% of the total.

During the eight-month period, 33 export categories generated more than $1 billion each, together accounting for 93.6% of total export turnover.

Seven of these exceeded $10 billion and collectively represented 70% of exports: electronics, computers and components; machinery, equipment, tools and spare parts; phones and components; textiles and garments; footwear; vehicles and parts; and wood and wood products.

Imports, meanwhile, reached $54.91 billion in August 2026, down 3.1% from the previous month.

The domestic sector imported $12.82 billion worth of goods, down 7.1%, while imports by the foreign-invested sector declined 1.8% to $42.09 billion.

Compared with the same month last year, August imports surged 37.9%. Imports by the domestic sector increased 19.7%, while those by the foreign-invested sector jumped 44.6%.

In the first eight months of 2026, Vietnam imported $395.3 billion worth of goods, up 35.3% year on year.

The domestic sector accounted for nearly $105.1 billion, an increase of 23.7%, while the foreign-invested sector imported $290.2 billion, up 40.1%.

There were 43 import categories worth more than $1 billion each during the eight-month period, accounting for 93.9% of total imports.

Three categories exceeded $10 billion and together made up 55.5% of imports: electronics, computers and components; machinery, equipment, tools and spare parts; and fabrics.

In terms of major trading partners, the US was Vietnam’s largest export market in the first eight months, with shipments reaching $122 billion.

China was Vietnam’s largest source of imports, with turnover of $161.9 billion.

Vietnam recorded a trade surplus of $106.6 billion with the US during the period, up 22.7% year on year. Its surplus with the EU reached $31.4 billion, up 22.8%, while the surplus with Japan rose 58% to $2.4 billion.

Meanwhile, Vietnam posted a trade deficit of $107.7 billion with China, an increase of 41.7%; $37.8 billion with South Korea, up 89.4%; and $13.5 billion with ASEAN, up 43.4%.

According to the statistics agency, Vietnam recorded a merchandise trade deficit of $120 million in August.

For the first eight months of 2026, the country’s overall merchandise trade deficit reached $20.46 billion, a sharp reversal from the $14.02 billion surplus recorded in the same period last year.

The domestic sector posted a trade deficit of $30.6 billion, while the foreign-invested sector, including crude oil, recorded a surplus of $10.14 billion.

Nguyen Le