Exports jump 18.3% in two months, trade deficit nears $3 billion

Exports jump 18.3% in two months, trade deficit nears $3 billion

In February alone, exports were estimated at $33.06 billion, down 23.7 per cent from January because of the nine-day Tết holiday, but still 5.7 per cent higher year-on-year.

Loading export goods at Tân Vũ Port in Hải Phòng. — VNA/VNS Photo Tuấn Anh

Việt Nam’s exports reached US$76.36 billion in the first two months of 2026, up 18.3 per cent year-on-year despite fewer working days due to the Tết (Lunar New Year) holiday, data from the National Statistics Office under the Ministry of Finance on Friday showed.

In February alone, exports were estimated at $33.06 billion, down 23.7 per cent from January because of the nine-day Tết holiday, but still 5.7 per cent higher year-on-year.

The foreign-invested sector continued to dominate exports, accounting for $60.4 billion, or 79.1 per cent of total export value, up 30.1 per cent from a year earlier. Meanwhile, the domestic sector generated nearly $16 billion, down 12 per cent, representing 20.9 per cent of total exports.

A total of 13 export items exceeded $1 billion in turnover in the first two months, accounting for 79.9 per cent of total exports. Four key products posted export value above $5 billion, including electronics, computers and components ($17.7 billion, up 40.9 per cent), phones and parts ($11.15 billion, up 21 per cent), machinery and equipment ($9.3 billion, up 20.6 per cent) and garments ($5.7 billion, up 1.2 per cent).

The United States remained Việt Nam’s largest export market, with turnover reaching $23.8 billion, up 21.9 per cent year-on-year. Other major markets included China ($11 billion), the EU ($9.5 billion), ASEAN ($6.3 billion), South Korea ($5.1 billion) and Japan ($4.5 billion).

Meanwhile, imports grew faster than exports, rising 26.3 per cent year-on-year to $79.34 billion, leading to a trade deficit of $2.98 billion in the first two months. The domestic economic sector posted a deficit of $6.5 billion, while the foreign-invested sector recorded a surplus of $3.52 billion.

Imports were driven mainly by rising demand for electronics, computers and components (roughly $30 billion, up 48.3 per cent) and machinery and equipment (nearly $10 billion, up 27.9 per cent), reflecting stronger production activity and preparation for export orders.

Global developments are also shaping the outlook for Việt Nam’s trade. Escalating tensions involving the US, Israel and Iran have raised concerns about disruptions to energy supply routes in the Middle East, particularly the Strait of Hormuz, which carries roughly a quarter of global crude oil shipments.

Analysts say higher oil prices and rising shipping and insurance costs could increase logistics expenses for exporters and importers in the coming months, adding pressure to global supply chains and potentially affecting trade flows across Asia, including Việt Nam. 

Bizhub