Vietnam Balance of Trade

Vietnam posted a trade deficit of USD 1.55 billion in goods for February 2025, swinging from a USD 1.38 billion surplus in the same month last year. This marked the 1st trade gap since May 2024, driven by a surge in imports, mainly dairy and metal products, and automobiles. Exports soared by 25.7% yoy to USD 31.11 billion, while imports jumped 40.0% to USD 32.66 billion due to a low base effect from last year when the Lunar New Year holidays fell in February. For the 1st two months of 2025, the country posted a USD 1.47 billion surplus, with exports and imports rising by 8.4% and 15.9% each. During this period, total shipments of processed industrial goods reached USD 57.01 billion, accounting for 88.7% of total exports. Imports of production materials totaled USD 58.83 billion, representing 93.7% of total imports. The US was Vietnam's largest export market, with a turnover of USD 19.6 billion, while China was the country's largest import market, with a turnover of USD 23.3 billion.