Hanoi (VNA) – Vietnam’s total import-export turnover reached 445.12 billion USD in the first five months of 2026, up 25% year-on-year, according to data released by the National Statistics Office (NSO) under the Ministry of Finance on June 3.

In May alone, trade turnover amounted to 99.07 billion USD, rising 3.2% from the previous month and 25.8% from a year earlier. Exports increased 19.5% year-on-year in the January-May period, while imports surged 30.8%.

As a result, the country recorded a trade deficit of 5.21 billion USD in May and 13.8 billion USD in the first five months of the year, compared with a trade surplus of 5.1 billion USD in the same period of 2025.

The domestic sector posted a deficit of 20.76 billion USD, while the foreign-invested sector, including crude oil, generated a surplus of 6.96 billion USD. Exports in May were estimated at 46.93 billion USD, up 2.1% from April. Compared with the same month last year, the figure rose 18%, including growth of 3.5% in the domestic sector and 22% in the foreign-invested sector.

During the first five months, export revenue reached 215.66 billion USD, up 19.5% year-on-year. The domestic sector earned 43.5 billion USD, up 2.5% and accounting for 20.2% of total exports, while the foreign-invested sector generated 172.16 billion USD, up 24.7%, representing 79.8%.

Twenty-six export items posted turnover exceeding 1 billion USD, accounting for 90.7% of total export value, including seven products with exports above 10 billion USD, making up 69.3%.

Processed industrial goods remained the main export category, generating 193.71 billion USD and accounting for 89.8% of total exports. Agricultural and forestry products brought in 15.79 billion USD, seafood exports reached 4.67 billion USD, while fuel and mineral exports totalled 1.49 billion USD.

On the import side, May imports were estimated at 52.14 billion USD, up 4.3% from the previous month. The domestic sector imported goods worth 13.17 billion USD, down 10.8%, while imports by the foreign-invested sector rose 10.7% to 38.97 billion USD. Compared with May 2025, imports increased 33.8%.

For the first five months, imports reached 229.46 billion USD, up 30.8% year-on-year.

Thirty-six import items recorded turnover of more than 1 billion USD, representing 91.2% of total import value, including six products with imports exceeding 10 billion USD, accounting for 60.7%.

Production materials continued to dominate the import structure, accounting for 94.1% of total imports, including machinery, equipment, tools and spare parts at 55.7%, and raw materials and fuels 38.4%. Consumer goods made up the remaining 5.9%.

The US remained Vietnam’s largest export market, with turnover reaching 69.6 billion USD, while China was the largest source of imports at 92.6 billion USD.

In the first five months, Vietnam’s trade surplus with the US rose 21.1% year-on-year to 60.4 billion USD. The country also recorded a surplus of 18.1 billion USD with the EU, up 11.3%, and 0.8 billion USD with Japan, down 13.2%. Meanwhile, trade deficits with China, the Republic of Korea and ASEAN widened to 62.5 billion USD, 21.1 billion USD and 8.6 billion USD, respectively.

NSO Director Nguyen Thi Huong pointed to the need for more measures to boost exports, diversify supply chains, production networks and export markets, while improving product quality and increasing participation in regional and global value chains.

She also stressed the need to make full use of free trade agreements, expand exports to major markets, tap new and potential destinations such as Halal, Latin American and African markets, and support businesses in meeting new market standards, responding to anti-dumping cases and applying advanced technologies to enhance competitiveness and export growth./.