Vietnam’s total foreign trade value reached 155.7 billion USD in the first two months of 2026, up 22.2% year-on-year, while the country recorded a trade deficit of 2.98 billion USD, according to the National Statistics Office (NSO) under the Ministry of Finance.
The office reported on March 6 that export turnover in February was estimated at 33.06 billion USD, down 23.7% from the previous month. Of the figure, the domestic economic sector earned 6.44 billion USD, falling 33.1%, while the foreign-invested sector, including crude oil, raked in 26.62 billion USD, down 21%.
Compared with the same period last year, February’s exports increased 5.7%. However, exports from the domestic sector declined 24.3%, while those from the foreign-invested sector rose 17%.
In the first two months of 2026, total export turnover reached 76.36 billion USD, up 18.3% year-on-year. The domestic sector contributed 15.96 billion USD, down 12%, accounting for 20.9% of the total exports, while the foreign-invested sector generated 60.4 billion USD, up 30.1%, representing 79.1%.
During the period, 13 export items recorded turnover exceeding 1 billion USD each, accounting for nearly 80% of the total export value, including four items posting over 5 billion USD.
Processed industrial products dominated the export structure with 68.55 billion USD, accounting for 89.8% of the total exports. Agricultural and forestry products reached 5.8 billion USD, representing 7.6%, while aquatic products totalled 1.72 billion USD, making up 2.2%. Fuel and mineral products accounted for 0.29 billion USD, or 0.4%.
On the import side, February’s import turnover was estimated at 34.1 billion USD, down 24.6% from the previous month. The domestic sector imported goods worth 9.55 billion USD, decreasing 27.5%, while the foreign-invested sector recorded 24.55 billion USD, down 23.4%.
In the first two months of the year, total import turnover reached 79.34 billion USD, up 26.3% year-on-year. The domestic sector accounted for 22.47 billion USD, down 1.5%, while the foreign-invested sector posted 56.87 billion USD, up 42.2%.
Production materials dominated the import structure with 74.67 billion USD, accounting for 94.1% of the total imports. Of this, machinery, equipment, tools and spare parts made up 56%, while raw materials and fuels accounted for 38.1%. Consumer goods were estimated at 4.67 billion USD, representing 5.9%.
Regarding markets, the US remained Vietnam’s largest export market with turnover of 23.8 billion USD, while China was the country’s largest import source with 31.9 billion USD.
Vietnam posted a trade surplus of 20.4 billion USD with the US and 6.7 billion USD with the EU. Meanwhile, it recorded trade deficits of 20.9 billion USD with China, 6.5 billion USD with the Republic of Korea, and 2.6 billion USD with the Association of Southeast Asian Nations (ASEAN).
To boost exports, NSO Director Nguyen Thi Huong suggested the Government intensify trade promotion, diversify supply chains and export markets, and effectively utilise opportunities from signed free trade agreements.
At the same time, it is necessary to effectively tap opportunities from signed free trade agreements (FTAs), further promote exports to major and key markets, and step up the exploration of new and potential markets such as Halal markets, Latin America, and Africa, with the aim of maintaining a sustainable trade surplus.
She also stressed the need to help businesses meet export market standards, access capital, apply advanced technologies, and improve product quality and value to expand markets and promote sustainable export growth.
