Vietnam records US$12.07 billion trade deficit as turnover tops US$1 trillion
Merchandise trade rose 32.3 per cent in January–October 2026, with import growth outstripping the increase in exports.
Vietnam recorded a US$12.07 billion merchandise trade deficit for January–October 2026, reversing a surplus of about US$19.5 billion a year earlier. Figures from the National Statistics Office under the Ministry of Finance put trade turnover above US$1 trillion, a year-on-year increase of 32.3 per cent.
Imports rose 37.4 per cent to US$511.3 billion over the period, outpacing export growth of 27.5 per cent. Export receipts totalled US$499.24 billion.
The October balance was positive at US$7.3 billion, following September’s US$1.3 billion surplus. October exports increased 8.7 per cent from the previous month to US$64.67 billion, while imports fell 1.4 per cent to US$57.36 billion. Monthly trade turnover reached US$122 billion, a rise of 47.4 per cent from a year earlier.
Foreign-invested enterprises, including crude oil, generated US$405.3 billion in exports during the 10 months, representing an 81.2 per cent share. Their trade surplus stood at US$25.76 billion, whereas the domestic sector registered a US$37.83 billion deficit.
Manufacturing and processing supplied 90.7 per cent of export value, earning US$452.74 billion. On the import side, production inputs made up 94.1 per cent of purchases, at US$481 billion.
The United States ranked as the leading destination for Vietnamese exports, buying US$159.4 billion of goods. China was the biggest supplier, with US$212.46 billion in shipments to Vietnam. Vietnam’s trade shortfall with China reached US$134.94 billion, widening by 43.2 per cent.
