In the first four months of 2025, Vietnam’s total import-export turnover reached USD 276.89 billion, up 15.7% compared to the same period in 2024. Exports remained a bright spot in the trade landscape.
Exports Maintain Strong Growth Momentum
According to the April and four-month socio-economic report released by the General Statistics Office under the Ministry of Finance on May 6, Vietnam’s total merchandise trade turnover in April reached USD 74.32 billion, down slightly by 1.4% from March but up sharply by 21.3% year-on-year.
For the four-month period, total trade turnover reached USD 276.89 billion, up 15.7% over the same period in 2024. This result reflects a positive and sustainable recovery of international trade, as many major markets show signs of regaining growth.
Goods exports continued to be a highlight. In April alone, export turnover reached USD 37.45 billion, down 2.8% from March, mainly due to a 6% decline in the foreign-invested sector (FDI).
However, the domestic economic sector recorded an impressive growth of 5.2%, reaching USD 11.66 billion. Compared to the same period last year, total export turnover increased by 19.8%, with the domestic sector growing by an exceptional 25.7%, and the FDI sector by 17.2%.
Cumulatively for the first four months, total exports reached USD 140.34 billion, up 13%. The domestic sector contributed USD 40.74 billion, up 18.1%, accounting for 29% of total exports, while the FDI sector reached USD 99.6 billion, up 11%, accounting for 71%.
Notably, 22 items recorded export turnover of over USD 1 billion, including 7 items that exceeded the USD 5 billion mark—reflecting a growing concentration of exports in high-value and key commodity groups.
In terms of structure, processed industrial goods continued to dominate with USD 123.71 billion (88.2%), followed by agricultural and forestry products with USD 12.39 billion (8.8%), seafood with USD 3.21 billion (2.3%), and fuel and mineral products with USD 1.03 billion (0.7%). This underscores Vietnam’s strategic focus on deep processing and value-added manufacturing, while still maintaining a strong presence for agriculture and fisheries in the global value chain.
Trade Surplus Maintained at a Reasonable Level
Vietnam’s import turnover in April 2025 was USD 36.87 billion, nearly unchanged from March (USD 36.88 billion). The domestic sector rose 3.6% to USD 14.48 billion, while the FDI sector fell 2.2% to USD 22.39 billion. Compared to April 2024, imports rose sharply by 22.9%, with domestic imports up 26% and FDI up 21%.
For the four-month period, total imports reached USD 136.55 billion, up 18.6% year-on-year. The domestic sector imported USD 51.26 billion (up 21.1%), and the FDI sector USD 85.29 billion (up 17.1%). There were 25 import items exceeding USD 1 billion in value, including 2 items surpassing the USD 5 billion mark, signaling a clear recovery in domestic production and consumption demand.
In terms of import structure, production materials continued to dominate with USD 128.17 billion, accounting for 93.9% of total imports. Within this group, machinery, equipment, tools and spare parts made up 50.6%, while raw materials and fuels accounted for 43.3%. Consumer goods amounted to USD 8.38 billion, or just 6.1%, reflecting the focus on production over consumption.
Vietnam maintained a trade surplus, though it narrowed compared to the same period last year. Preliminary data shows a trade surplus of USD 1.63 billion in March, USD 3.21 billion for Q1, and USD 0.58 billion in April, bringing the total four-month surplus to USD 3.79 billion (versus USD 9.06 billion in the same period of 2024).
By economic sector, the domestic sector posted a trade deficit of USD 10.52 billion, while the FDI sector recorded a strong trade surplus of USD 14.31 billion, reinforcing the key role of foreign-invested enterprises in Vietnam’s trade balance.
Major Export and Import Markets
The United States remained Vietnam’s largest export market, with turnover reaching USD 43.4 billion in the first four months and a record trade surplus of USD 37.7 billion (up 24.9%).
Next came the EU with a surplus of USD 13.4 billion (up 16.8%), and Japan with USD 0.7 billion (nearly doubled year-on-year). On the other hand, China was Vietnam’s largest import market, with turnover of USD 53.2 billion and a substantial trade deficit of USD 35.1 billion (up 44.2%). Vietnam also posted a trade deficit of USD 9.6 billion with South Korea (up 9.5%) and USD 5.4 billion with ASEAN (up 83.1%).
As previously noted, processed industrial goods dominated exports with USD 123.71 billion (88.2%), followed by agricultural and forestry products at USD 12.39 billion (8.8%), seafood at USD 3.21 billion (2.3%), and fuels/minerals at USD 1.03 billion (0.7%). This reflects Vietnam’s continued orientation toward export-driven industrial production while maintaining a solid position for agriculture and aquaculture in the global supply chain.
Source: Vietnam Industry and Trade Newspaper
