VN's trade surge defies global headwinds

VN's trade surge defies global headwinds

On the import side, computers, electronics and components led with a value of US$6.55 billion, followed by machinery and spare parts at US$2.7 billion.

Containers at the northen Hải Phòng Port. — VNA/VNS Photo

From January 1 to July 15, Việt Nam’s total trade volume reached US$470.65 billion, including $239.2 billion in exports and $231.45 billion in imports, resulting in a trade surplus of $7.75 billion.

According to the Ministry of Finance’s Department of Customs, Việt Nam’s total trade turnover stood at $38.17 billion in the first half of July.

Of this, exports accounted for $19 billion, while imports reached $19.17 billion. Cumulative trade volume since the beginning of the year amounted to $470.65 billion. June alone recorded a trade value of $75.59 billion, while May posted the highest monthly figure so far in 2025 at $78.64 billion. At this rate, total trade is expected to surpass $500 billion by the end of July.

Key export categories continued to maintain strong performance in early July.

Exports of computers, electronics and components brought in $3.88 billion, followed by phones and components at $2.52 billion. Machinery and spare parts contributed $2.3 billion, while garments reached $1.82 billion and footwear exceeded $1 billion.

Other sectors — such as seafood, fruit and vegetables, wood products, vehicles, toys and sporting goods — also added hundreds of millions of US dollars to export earnings.

On the import side, computers, electronics, and components led with a value of $6.55 billion, followed by machinery and spare parts at $2.7 billion. The rise in import volumes indicates increased demand for input materials, suggesting that domestic factories are operating at high capacity to fulfil export orders. The manufacturing sector, in this context, continues to benefit from strong global demand.

The Ministry of Industry and Trade (MoIT) attributed the robust recovery of trade to proactive policies supporting domestic production, facilitating trade and expanding access to international markets.

As the second half of the year begins, exporters are accelerating efforts to achieve their annual targets. However, the external environment remains challenging, with global economic growth slowing, geopolitical risks intensifying and climate-related disruptions becoming more frequent — all contributing to heightened uncertainty in global trade flows.

Lê Phụng Hào, chairman of Global AAA Consulting, stressed the need for rapid adaptation.

“The pressure is immense, requiring companies to restructure operations, adopt digital technologies, enhance productivity,and strengthen their competitive position,” he said. Hào also emphasised the importance of market diversification and making full use of free trade agreements to reduce overdependence on any single export market.

Commenting on trade relations with the United States, Professor Trần Ngọc Anh of Indiana University noted that the US remains a key export partner, despite evolving trade policies.

“Even with tariffs in place, there are still opportunities,” he said. “As supply chains adjust, Việt Nam should increase imports from the US, invest in supporting industries, and improve technological and managerial capabilities to move further up the value chain.”

While external headwinds are expected to persist into late 2025 and early 2026, Việt Nam may gain a competitive edge through future tariff negotiations. This could help maintain its attractiveness to foreign investors in a volatile global landscape.

The MoIT has reaffirmed its commitment to pursuing balanced and reciprocal trade agreements with the United States, strengthening early-warning mechanisms for trade risks, supporting trade defence measures and assisting exporters in addressing emerging technical barriers. 

Bizhub