Vietnam July exports up 16% y/y, industrial production up 8.5%

Imports in July rose 17.8% to $40 billion, resulting in a trade surplus of $2.27 billion for the month, the National Statistics Office said in a report.

For the first seven months of this year, exports rose 14.8% over the same period of 2024 to $262.44 billion, while imports were up 17.9% to $252.26 billion, translating into a trade surplus of $10.18 billion.

The government said on Monday that imports and exports both increased sharply because firms were ramping up production to meet new orders.

Goods from Vietnam, a regional manufacturing powerhouse, have been slapped with a 20% tariff in the United States by the Trump administration.

The United States was Vietnam's largest export market over the January-July period, with shipments totalling $85.1 billion, the NSO said. China was Vietnam's largest source of imports, with a value of $101.5 billion.

Consumer prices in July rose 3.19% from a year earlier, the NSO said, adding that retail sales in July were up 9.2%.