Vietnam’s Robust Trade Growth: A Snapshot of Economic Performance
By VNA/The Investor
Thu, August 7, 2025 | 12:19 pm GMT+7
Vietnam’s economic landscape has undergone notable changes in 2025, particularly in its trade performance. The latest figures reveal a promising export growth of 14.8%, amounting to $262.44 billion in the first seven months of the year. Meanwhile, imports have also surged, rising 17.9% to reach $252.26 billion. This activity produced a commendable trade surplus of $10.18 billion.
Total Trade Turnover
According to the National Statistics Office (NSO), Vietnam’s total trade turnover for this period has reached an impressive $514.7 billion, marking a 16.3% increase year-on-year. This growth is indicative not only of strong demand for Vietnamese goods abroad but also the growing strength of its manufacturing and agriculture sectors.
Sector Contributions
Analyzing the growth by sector shows that the domestic economic sector has contributed $67.48 billion, achieving a modest growth rate of 6.7%. Conversely, the foreign-invested sector, which includes crude oil, has outpaced this with a growth rate of 17.9%, bringing the total to $194.96 billion. This highlights the significant role of foreign investments in bolstering Vietnam’s export capacity.
Export Composition
The composition of the exports reveals a strong focus on processed industrial goods, which accounted for 88.6% of the total exports at $232.37 billion. Agricultural and forestry products contributed $22.4 billion (8.5%), while aquatic products added $6.08 billion (2.3%). Fuel and mineral products were less significant, totaling $1.59 billion, or merely 0.6% of exports. This diverse export portfolio illustrates Vietnam’s expanding industrial base and its strategic focus on value-added production.
Import Dynamics
On the import side, production materials made up the majority of the figures, estimated at $236.57 billion (93.8% of total imports). Consumer goods represented a smaller chunk at $15.69 billion (6.2%). This delineation emphasizes Vietnam’s status as a manufacturing hub, significantly reliant on imported inputs to support its growing industries.
Trade Surplus Insights
Interestingly, Vietnam has observed a trade surplus of $22.3 billion with the European Union during the first seven months, reflecting a 9.9% year-on-year increase. The surplus with Japan also saw an impressive 21% rise, reaching $1.3 billion. These figures underline the strong ties between Vietnam and its major trading partners, showcasing a beneficial trading environment.
Major Trade Partners
China continues to be Vietnam’s largest import market, with turnover hitting $101.5 billion. However, the trade deficit with China has widened to $66.5 billion, a substantial 41.1% increase compared to the previous year. The trade deficit with South Korea is recorded at $17.4 billion, slightly down by 0.2%, while the deficit with ASEAN nations has escalated significantly, rising by 63% to $8.5 billion. These trends indicate the complexities of Vietnam’s international trade relationships, particularly with its closest neighbors.
Consumer Price Index and Inflation
On the domestic front, Vietnam’s consumer price index (CPI) has increased by 3.26% year-on-year in the same period, with core inflation climbing to 3.18%. The rising costs of housing repairs, food, and dining have collectively contributed to a 0.11% month-on-month increase in CPI for July. Price increments across various categories showcase consumer pressures, with healthcare prices spiking by 12.81% year-on-year, largely due to an increase in medical service costs.
Other contributing sectors include housing, which rose by 7.07%, and utilities such as electricity and water supply. These inflationary pressures underline the ongoing challenges for Vietnamese households while simultaneously reflecting economic conditions.
In summary, Vietnam’s economic outlook remains robust in 2025, marked by commendable export growth, a strategic export composition, and a nuanced understanding of its trade relationships. Each of these elements paints a picture of a vibrant economy navigating the complexities of the global market while striving for sustainable growth.