Exports top US$434 billion

According to the socio-economic report for the third quarter and first nine months of 2026 released by the National Statistics Office under the Ministry of Finance on October 3, exports brought back US$434.30 billion in the January-September period, up 24.5% from a year earlier.

September exports alone stood at US$59.48 billion, an increase of 8.5% from August and 39.1% year on year. Shipments by domestic enterprises rose 9.9%, while those by the foreign-invested sector, including crude oil, increased 46.5%.

Exports in the third quarter totalled US$167.85 billion, up 30.4% year on year and 17% from the previous quarter.

The foreign-invested sector remained the dominant contributor, accounting for 80.7% of total exports. Its shipments fetched US$350.41 billion, up 29.4%, compared with US$83.89 billion from domestic enterprises, which rose 7.5%.

A total of 35 export products recorded turnover of more than US$1 billion each, accounting for 94.3% of overall exports. Seven products generated more than US$10 billion each, together making up 70.7% of the total.

Processed industrial goods were the main export category, generating US$392.79 billion, or 90.4% of total shipments. Agricultural and forestry products brought in US$30 billion, followed by seafood at US$9.10 billion and fuels and minerals at US$2.41 billion.

Imports rise faster, pushing trade balance into deficit

Notably, imports rose 36.7% year on year to US$453.72 billion in the first nine months.

September imports stood at US$58.21 billion, rising 6% from August and 45.8% from the same month last year. Purchases by domestic enterprises increased 22.1%, while those by foreign-invested companies climbed 54.6%.

Third-quarter imports totalled US$170.33 billion, up 42.2% year on year and 8.8% from the previous quarter.

There were 45 import products with turnover exceeding US$1 billion each, accounting for 94.5% of total imports, including six products worth more than US$10 billion each, which together represented 63.1%.

Production inputs accounted for 94.1% of total imports, worth US$426.92 billion. Machinery, equipment, tools and spare parts made up 58.3%, while raw materials and fuels accounted for 35.8%. Consumer goods represented the remaining 5.9%, at US$26.80 billion.

The United States was Vietnam’s largest export market, with shipments reaching US$140 billion, while China was the biggest source of imports, at US$187.34 billion.

Vietnam posted a US$122.62 billion trade surplus with the United States, up 23.8% year on year, and a US$36.06 billion surplus with the European Union, up 25.3%. The surplus with Japan hit US$2.65 billion, an increase of 85.9%.

By contrast, the trade deficit with China widened 43% to US$121.48 billion. Deficits with the Republic of Korea and ASEAN increased 90.4% to US$43.75 billion and 48.1% to US$15.49 billion, respectively.

The monthly balance returned to surplus in September, with exports exceeding imports by US$1.27 billion. However, the cumulative balance for the first nine months remained in deficit at US$19.42 billion, compared with a US$16.87 billion surplus in the same period last year.

The domestic sector recorded a US$34.28 billion trade deficit, while the foreign-invested sector posted a US$14.86 billion surplus, including crude oil.