Q1 2026: Vietnam posts a $3.64 billion trade deficit

Q1 2026: Vietnam posts a trade deficit of $3.64 billion. According to the General Statistics Office, in March the total value of goods exports and imports reached $93.55 billion, up 39.2% from the previous month and up 23.9% from the same period last year. For the first quarter of 2026, the value of goods exports and imports reached $249.50 billion, up 23.0% year on year, with exports rising 19.1% and imports rising 27.0%. The goods trade balance registered a deficit of $3.64 billion. Exports: The value of goods exports in March reached $46.44 billion, up 40.3% from the previous month. The domestic economy sector contributed $8.96 billion, up 39.2%; the foreign-invested sector (including crude oil) contributed $37.48 billion, up 40.6%. Year on year, March exports rose 20.1%, with the domestic sector down 20.1% and the foreign-invested sector up 36.5%. For Q1 2026, total exports reached $122.93 billion, up 19.1% from the same period last year. The domestic sector accounted for $24.47 billion, down 16.6%, representing 19.9% of total exports; the foreign-invested sector (including crude oil) reached $98.46 billion, up 33.3%, representing 80.1%. [Caption: Value of some export items in Q1 2026. Source: General Statistics Office] In Q1 2026 there were 20 export items with values over $1 billion, accounting for 86.8% of total exports (five items over $5 billion, representing 62.4%). By product group, processed industrial goods reached $110.52 billion (89.9%), agricultural and forestry products reached $9.34 billion (7.6%), seafood $2.64 billion (2.2%), fuels and minerals $0.43 billion (0.3%). Imports: March imports reached $47.11 billion, up 38.2% from the previous month. The domestic sector imported $13.45 billion, up 40.8%; the foreign-invested sector imported $33.66 billion, up 37.1%. Year on year, March imports rose 27.8%, with the domestic sector down 3.7% and foreign-invested imports up 47.1%. For Q1 2026, total imports reached $126.57 billion, up 27.0% from the same period last year, with the domestic sector accounting for $35.2 billion (down 4.3%) and the foreign-invested sector $91.37 billion (up 45.3%). [Caption: Value of some import items in Q1 2026] In Q1 2026 there were 22 import items above $1 billion, representing 82.8% of total imports (two items above $5 billion, accounting for 49.8%). By product group, capital goods and materials accounted for $118.84 billion (93.9%), including machinery and equipment and accessories at 55.3%; raw materials and inputs at 38.6%. Consumer goods reached $7.73 billion (6.1%). The United States remained Vietnam’s largest export market with exports of $39.0 billion. China was Vietnam’s largest import market with imports of $50.1 billion. In Q1 2026, Vietnam ran a trade surplus to the United States of $33.9 billion, up 24.2% from a year earlier; a surplus to the European Union of $10.6 billion, up 6.6%; a deficit to Japan of $0.4 billion, down 28.4%; a trade deficit from China of $33.3 billion, up 34.4%; a deficit from Korea of $10.6 billion, up 48.7%; a deficit from ASEAN of $5.0 billion, up 31.3%.