Vietnam’s total import-export turnover reached $127.07 billion during the period, a 12% increase from a year ago, the office reported on Thursday.
In February alone, exports stood at $31.11 billion, down 6.2% from the previous month but up 25.7% year-on-year. The domestic economic sector posted an impressive growth rate of 32.8%, while the foreign-invested sector, including crude oil, increased by 23.2%.
For the first two months of the year, exports reached $64.27 billion, an 8.4% year-on-year rise. The domestic sector contributed $17.92 billion, up 12.8% and accounting for 27.9% of total exports, while the foreign-invested sector, including crude oil, accounted for $46.35 billion, up 6.7% and making up 72.1% of the total.
During this period, 12 export items surpassed the $1 billion mark, making up 77.7% of total export value. Four of these items exceeded $5 billion.
By sector, processed industrial goods remained the dominant export category, generating $57.01 billion, or 88.7% of the total. Agricultural and forestry products contributed $5.35 billion (8.3%), seafood reached $1.43 billion (2.2%), and fuel and mineral products totaled $0.48 billion (0.8%).
On the import side, Vietnam recorded $62.8 billion in total import value, an increase of 15.9% from a year ago. The domestic sector accounted for $22.8 billion, up 18.7%, while the foreign-invested sector imported $40 billion worth of goods, up 14.4%. Sixteen imported items exceeded $1 billion in value, comprising 76.2% of total imports, with two items surpassing the $5 billion mark.
Production materials dominated with $58.83 billion, accounting for 93.7% of total imports. This included machinery, equipment, tools, and spare parts, which made up 50.8%, while raw materials, fuel, and supplies accounted for 42.9%. Consumer goods imports stood at $3.97 billion, representing a 6.3% share.
The U.S. remained Vietnam’s largest export market, with turnover reaching $19.6 billion. Meanwhile, China continued to be the country’s biggest import source, with imports valued at $23.3 billion.
Vietnam achieved a trade surplus of $17 billion with the U.S., a 16.3% increase from the previous year, while its surplus with the EU grew by 19.2% to $6.4 billion. Notably, trade surplus with Japan surged nearly 10 times from a year ago to $0.5 billion.
However, Vietnam continued to run trade deficits with several major partners, including China ($15.4 billion, up 36.9%), South Korea ($4.6 billion, up 20.6%), and ASEAN ($2.1 billion, up 116.8%).
