Vietnam’s Rising Import-Export Turnover: July 2025 Highlights
Vietnam’s trade dynamics have shown an impressive surge, with the total import-export turnover in July 2025 reaching a remarkable $82.27 billion. This figure represents an 8% increase from June and a substantial 16.8% hike compared to the same month last year, as reported by the Statistics Office under the Ministry of Finance on August 6.
Cumulative Growth for the First Seven Months
The growth momentum is evident in the cumulative import-export turnover for the first seven months of 2025, totaling $514.7 billion, marking a 16.3% increase year-on-year. Notably, export values rose by 14.8%, while imports surged by 17.9%, showing a robust trade environment.
July’s Export Performance
In July alone, Vietnam’s export turnover was estimated at $42.27 billion, reflecting a 6.9% rise from the previous month. The domestic sector contributed $8.95 billion, marking a modest increase of 3.5%. In contrast, the foreign-invested sector, which includes crude oil contributions, brought in $33.32 billion—up 7.9%.
Year-on-year comparisons showcase a striking trend, with July exports up by 16%, largely driven by foreign investments that soared by 25.9%. However, it is important to note that the domestic sector faced challenges, experiencing a decline of 10.3%.
Breakdown of Export Turnover
For the first seven months of 2025, Vietnam’s total export turnover reached $262.44 billion, a 14.8% year-on-year increase. The domestic sector accounted for $67.48 billion, an increase of 6.7% and representing 25.7% of the total export value. The foreign-invested sector, however, dominated with contributions of $194.96 billion—17.9% growth, corresponding to 74.3% of the total.
A significant highlight is that 28 export items exceeded $1 billion each, collectively accounting for 91.7% of the total export value. Nine of these products surpassed the $5 billion mark, contributing to 72.3% of the overall figures.
From a structural perspective, processed industrial goods emerged as the heavyweight, bringing in $232.37 billion (88.6% of total exports), followed by agricultural and forestry products at $22.4 billion (8.5%). Seafood and fuel/mineral products lagged behind at $6.08 billion (2.3%) and $1.59 billion (0.6%), respectively.
Insights on Imports
On the import side, July’s estimated import value was $40 billion, an increase of 9.1% from June. The domestic sector contributed $11.29 billion (up 4.6%), while the foreign-invested sector accounted for $28.71 billion (up 11.0%). In terms of year-on-year growth, July imports skyrocketed by 17.8%.
Interestingly, while the domestic sector saw a 5% decline, imports from the foreign-invested sector skyrocketed by an impressive 30%. For the first seven months, the total import value reached $252.26 billion, representing a noteworthy 17.9% increase year-on-year.
Within this period, 36 imported products exceeded $1 billion each, making up 90.5% of the total import value, with nine items at $5 billion each, accounting for 64.1%.
Dominance of Production Materials
Analyzing the composition of imports reveals that production materials dominated the landscape, totaling $236.57 billion or 93.8% of the total. This includes machinery, equipment, tools, and spare parts, which constituted 51.7% of imports, along with raw materials, fuel, and inputs at 42.1%. In contrast, consumer goods comprised a modest $15.69 billion or 6.2% of total imports.
Key Trade Relationships
When examining trade partnerships, the United States remains Vietnam’s largest export market for the first seven months, with a turnover of $85.1 billion. Conversely, China stands as the top source of imports, with a significant $101.5 billion worth of goods flowing into Vietnam.
This leads to notable trade surpluses, with Vietnam recording a surplus of $74.6 billion with the U.S. (up 28.6% year-on-year), $22.3 billion with the EU (up 9.9%), and $1.3 billion with Japan (up 21%). However, Vietnam is confronted with challenges, running a trade deficit of $66.5 billion with China (up 41.1%), $17.4 billion with South Korea (down 0.2%), and $8.5 billion with ASEAN (up 63%).
Trade Balance Overview
On the trade balance front, Vietnam reported a preliminary trade surplus of $2.27 billion in July, accumulating a cumulative trade surplus of $10.18 billion for the first seven months of 2025—lower than the $14.63 billion surplus recorded during the same timeframe in 2024.
Vietnam’s evolving trade landscape illustrates a complex but dynamic economic environment marked by robust export growth and significant import demands driven by foreign investment and production needs. The emphasis on processed industrial goods and reliance on key trading partners will continue to shape Vietnam’s economic narrative in the global arena.