Việt Nam’s trade surplus exceeds $3 billion in January
Việt Nam’s trade surplus exceeds $3 billion in January
Việt Nam recorded a trade surplus of more than US$33 billion in the first month of 2025, despite a 10.5 per cent decline year-on-year in total export and import turnover
Container trucks transport import and export goods at Nam Đình Vũ Port, Hải Phòng City. — VNA/VNS Photo Quốc Khánh |
Việt Nam recorded a trade surplus of more than US$33 billion in the first month of 2025, despite a 10.5 per cent decline year-on-year in total export and import turnover, which reached nearly $63.2 billion, according to data released on Thursday by the General Statistics Office (GSO).
Exports were valued at nearly $33.1 billion, down 4.3 per cent year-on-year, while imports decreased by 2.6 per cent to $30.06 billion.
The domestic economic sector posted a trade deficit of $1.4 billion, while the foreign-invested sector (including crude oil) recorded a surplus of $4.43 billion.
In January 2025, seven commodities achieved export turnover of over $1 billion, representing 67.9 per cent of the total export turnover.
Among the exports, the largest category was processed industrial goods, amounting to $29.4 billion, or 89 per cent of the total. Agricultural and forestry products reached nearly $2.7 billion, while seafood exports were valued at $770 million.
On the import side, the majority of imports were raw materials for production, representing 94 per cent of the total value. This includes machinery and equipment, which accounted for 52 per cent of the import value, and raw materials, which made up 42 per cent. Consumer goods contributed 6 per cent to the total import turnover.
In terms of markets, Việt Nam recorded a trade surplus of $8.5 billion with the United States (down 3.5 per cent), $2.7 billion with the EU (down 17.9 per cent), and $300 million with Japan (up 16.4 per cent).
Conversely, Việt Nam's trade deficit with China was $5.8 billion (down 19.6 per cent), with South Korea at $1.9 billion (up 2.8 per cent), and with ASEAN, it surged by 241.3 per cent to $1.2 billion.
According to the Ministry of Industry and Trade (MoIT), Việt Nam's goods can benefit from preferential tariffs in Free Trade Agreement (FTA) markets, but the rule of origin is crucial to secure these benefits. If products don't meet the origin requirements, the advantages may be lost.
The ministry said it will guide businesses on complying with international commitments and legal regulations on origin. Businesses must also ensure proper documentation to verify origin, ensuring certificates of origin (C/O) are accepted and goods receive preferential tariffs.
Vietnamese businesses are becoming increasingly aware of using C/O as an effective tool in their export strategies to access preferential tariffs in committed FTA markets. To support businesses, the MOIT frequently collaborates with organisations authorised to issue to conduct training and improve professional skills.
Furthermore, the ministry is focusing on administrative reforms, particularly improving the efficiency of handling and responding to businesses' inquiries in the area of goods' origin.
