Vietnam's goods trade surpasses $1 trillion mark for first time, setting historic record

As of October 29, exports totaled $493.64 billion, up 27.2 percent year on year, while imports reached $507.66 billion, up 37.6 percent, according to preliminary data from the customs authority.

Vietnam recorded a trade deficit of approximately $14.02 billion during the period, amid rising imports of materials and equipment for future production.

The milestone came nearly 20 years after Vietnam's total goods trade turnover first reached $100 billion in 2007, the year the country joined the World Trade Organization, Vietnam Customs said.

During 2016-25, the country's total trade turnover reached $6.12 trillion, growing by an average of 11 percent annually.

In 2025, the figure hit $929.92 billion, 2.65 times the 2016 level.

Vietnam now ranks 18th globally in exports and 20th in imports. In ASEAN, the country places second in terms of merchandise trade, after Singapore.

To date, Vietnam maintained trade relations with 237 countries and territories, boasting 36 export and 31 import billion-dollar markets.

Foreign-invested enterprises remained the main contributors, generating approximately $778 billion in total trade turnover from the beginning of the year through October 29, up 37 percent year on year and accounting for more than three-quarters of the national total.

Domestic enterprises recorded approximately $223 billion, up 16 percent.

Exports to Japan rose 18.6 percent year on year, while shipments to South Korea, Canada and Mexico increased by 19.1 percent, 14.4 percent and 42.5 percent, respectively.

China and the U.S. remained Vietnam's two leading trading partners.

Computers, electronic products and components; phones and components; and machinery, equipment, tools and spare parts were the three largest goods categories by trade turnover.

Combined, they generated approximately $532 billion, up 49 percent year on year and accounting for more than half of the country's total trade turnover.

With the current growth momentum, Vietnam's full-year export turnover in 2026 is projected to rise by more than 25 percent, exceeding the government's target of 15-16 percent, according to Vietnam Customs.