Which products are driving export growth, as Vietnam’s trade turnover pushes toward $1 trillion?

Vietnam posted $945.07 billion in total trade turnover in the first nine and a half months of 2026, up 31.4 percent year on year, while the country recorded a trade deficit of $17.67 billion amid rising imports of inputs for future production, according to preliminary customs data.

Specifically, exports totaled $463.7 billion as of October 15, while imports reached $481.37 billion, leaving the country about $54.93 billion short of the $1 trillion milestone.

Electronics dominate exports

Exports reached $463.7 billion as of October 15, up 25.9 percent year on year, an increase of $95.38 billion, according to preliminary data from Vietnam Customs under the Ministry of Finance.

Computers, electronic products and components led export categories at $135.31 billion, accounting for 29.2 percent of the country's total export value.

Machinery, equipment, tools and spare parts ranked second at $58.62 billion, up 29 percent, while phones and components came next at $54.34 billion, up 18.2 percent.

Among the three major export categories, computers, electronic products and components recorded the strongest growth, continuing to make a significant contribution to export revenue as Vietnam becomes more deeply integrated into global manufacturing supply chains.

Foreign-invested enterprises generated $374.27 billion in exports, up 31.3 percent and accounting for 80.7 percent of the national total. 

This share highlights the major role of foreign-invested businesses in exports and the need to strengthen links with domestic companies to increase local value added.

Imports grow faster than exports

Imports reached $481.37 billion as of October 15, up 37.2 percent year on year, an increase of $130.6 billion, according to the Vietnam Customs.

Computers, electronic products and components led import categories at $201.12 billion, followed by machinery, equipment, tools and other spare parts at $56.84 billion.

Combined, the two groups were worth nearly $258 billion, accounting for 53.6 percent of total imports. Both are important to industrial production and supply chains.

Vietnam also imported large quantities of production inputs, including $12.23 billion worth of fabric, $11.92 billion in other base metals and $10.91 billion in plastic materials.

Foreign-invested enterprises accounted for $356.49 billion in imports, up 42.8 percent year on year and representing 74 percent of the national total.

Trade deficit seen in positive light

With imports exceeding exports, Vietnam recorded a trade deficit of about $17.67 billion as of October 15.

Nguyen Thi Huong, director general of the National Statistics Office of Vietnam under the finance ministry, said the more than 30 percent year-on-year increase in total trade turnover was exceptionally high, reflecting closer links between domestic production and global markets.

Regarding the trade deficit, Huong acknowledged concerns that imports were growing faster than exports but said the trend should also be viewed positively, as it reflected demand for raw materials, components and equipment for future production.

She said businesses needed to step up production and promptly use imported materials and components in manufacturing, while expanding markets for finished goods both at home and abroad.

This would help turn imported inputs held in inventories into finished products, revenue and added value for the economy.