During the January–August period, the country’s total trade value reached $597.93 billion, up 16.3% year on year. Exports rose 14.8% to $305.96 billion, while imports climbed 17.9% to $291.97 billion.
In August alone, export turnover hit $43.39 billion, an increase of 2.6% from July and 14.5% from the same period last year. Of the value, the foreign-invested sector, including crude oil, continued to dominate, with $34.22 billion, while the domestic sector contributed $9.16 billion.
For the eight-month period, the foreign-invested sector, including crude oil, brought in $229.27 billion, up 19.3% and representing nearly 75% of total exports. The domestic sector contributed $76.69 billion, up 3.2%.
Key drivers included manufactured and processed goods, which generated $271.06 billion, or almost 89% of total exports. Agricultural and forestry products earned $25.92 billion, while seafood brought in $7.15 billion. Fuel and mineral exports stood at $1.83 billion.
Notably, 29 export items surpassed the $1-billion mark, accounting for over 92% of total export turnover. Of these, seven products, such as phones, electronics, and garments, each exceeded $10 billion.
Imports in August were estimated at $39.67 billion, down 0.8% from July.
In the eight months, 38 import items exceeded $1 billion in value, including two categories – computers/electronic products and machinery – each topping $10 billion.
Vietnam spent $273.91 billion on production materials, making up 94% of total imports. Machinery, equipment, tools, and spare parts accounted for 52.2%, while raw and intermediate materials represented 41.6%. Consumer goods imports reached $18.06 billion, or just over 6% of the total.
The U.S. remained Vietnam’s largest export market, with shipments valued at $99.1 billion. Meanwhile, China continued to be the biggest source of imports at $117.9 billion.
Vietnam posted a trade surplus of $87 billion with the U.S., up 26.8% year on year, and $25.6 billion with the EU, up 10%.
The country also recorded a $1.5-billion surplus with Japan. On the other hand, it ran a trade deficit of $75.9 billion with China, $20.1 billion with the Republic of Korea, and $9.4 billion with ASEAN countries.
