Vietnam’s goods trade passes US$1 trillion for first time

Vietnam’s international goods trade has exceeded US$1 trillion for the first time in 2026, according to the country’s customs department. The milestone came with two months remaining in the year, surpassing the US$930 billion recorded for all of 2025.

Exports reached US$493 billion, an increase of 27.2% from a year earlier, while imports climbed 37.6% to nearly US$508 billion. The faster rise in imports produced a trade deficit of US$14.02 billion. Customs officials expect full-year export growth to exceed 25%, against the government’s target of 15–16%.

Foreign-owned businesses accounted for US$778 billion of trade, up 37% year on year, making them the main contributors to growth. Domestic companies generated US$223 billion, a rise of 16%.

The leading traded categories were computers, electronics and their components; phones and their components; and machinery, equipment, tools and spare parts. China and the US remained Vietnam’s largest trading partners.

Exports to several markets with free-trade agreements with Vietnam rose sharply: Mexico recorded growth of 42.5%, followed by South Korea at 19.1%, Japan at 18.6% and Canada at 14.4%. Vietnam has trading relationships with 237 countries and territories.

The Ministry of Industry and Trade is preparing a goods trade strategy through 2030 that prioritises market diversification. It aims to keep any single market’s share at no more than 25% of exports or 35% of imports, and the combined share of the three largest export markets or regions at no more than 55%.

For the fourth quarter of 2026, the ministry plans to help businesses use free-trade agreements, enter more markets and meet regulatory requirements. Planned measures include early warnings on trade remedies and tariffs, support on environmental and traceability standards, expanded agricultural quarantine agreements, and investment in cold-chain logistics.