Vietnam's trade balance returns to $1.27bn surplus in September

Goods exports rose 8.5 percent month-on-month to $59.5 billion in September, while imports increased 6 percent to $58.2 billion, according to the NSO's report on the country's socio-economic performance in the third quarter and first nine months of 2026.

The September surplus was the first since December 2025, ending nine consecutive months of trade deficits. 

September exports also surpassed the previous monthly record of $54.8 billion set in August and rose 39 percent from the same month last year.

Vietnam Customs data showed that the monthly trade deficit had narrowed from $3.6 billion in July to $113 million in August.

At a press conference on Saturday, Nguyen Thu Oanh, head of the NSO's Service and Price Statistics Department, said exports of computers, electronic products and components rose 43 percent in September from the previous month.

She said the increase made an important contribution to bringing the trade balance back into surplus.

Detailed NSO data showed that exports of computers, electronic products and components reached $22.6 billion in September, 2.1 times the level recorded in the same month last year and accounting for nearly 38 percent of total exports.

In the first nine months of 2026, exports of these products totaled $124 billion, up 59.6 percent year-on-year.

Despite the September surplus, Vietnam recorded a trade deficit of $19.42 billion in the first nine months, compared with a surplus of $16.9 billion in the same period last year, according to the NSO.

According to Vietnam Customs data, the $19.42 billion nine-month trade deficit was the largest recorded since 2015.

Vietnam's exports totaled $434.3 billion in the first nine months, up 24.5 percent from previous year, while imports reached $453.72 billion, up 37 percent, according to the NSO.

Oanh said export growth was significantly higher than the government's full-year target of 15-16 percent, meaning export turnover could exceed the target in 2026.

Domestic enterprises recorded a trade deficit of $34 billion in the first nine months, while the foreign-invested sector posted a surplus of $14.9 billion.

Exports by domestic enterprises rose 7.5 percent to $83.9 billion, while those by foreign-invested enterprises increased 29 percent to $350 billion.

Oanh said the trade deficit should first be viewed in the context of strong growth in both exports and imports, reflecting the expansion of production, processing and trade activities.

Imports increased mainly to serve production and processing, particularly in the computers, electronic products and components category, she said.

Imports of these products reached $189 billion in the first nine months, up 72 percent and accounting for 42 percent of total imports. The category recorded a trade deficit of $65 billion, the largest among all product groups.

Imports of machinery, equipment, tools and spare parts also rose 22 percent to $53.9 billion, while consumer goods accounted for only 5.9 percent of total imports.

Oanh also said investment trends in artificial intelligence, semiconductors, data infrastructure and information technology had contributed to higher imports of certain equipment and components.

She said the trade deficit should not be assessed solely based on its absolute size, but also on the structure of imported goods and their potential to be transformed into export products in subsequent periods.

However, Oanh said the $19.42 billion nine-month deficit remained an issue to monitor, as some key export industries, particularly electronics, were still dependent on imported materials and components.