Positive trade balance, domestic business accelerates
Preliminary statistics from the customs authority show that the total import-export value of Vietnam's goods in March 2025 reached 75.39 billion USD, a sharp increase of 18.2% over the previous month, equivalent to an increase of 11.62 billion USD. Of which, exports reached 38.51 billion USD, up to 23.8%, imports reached 36.88 billion USD, up 12.9%. March ended with a trade surplus of 1.63 billion USD.
In the first quarter of 2025, total import-export turnover reached 202.52 billion USD, up 13.7% over the same period last year. Of which, exports reached 102.84 billion USD (up 10.6%) and imports reached 99.68 billion USD (up 17%). The trade balance of goods with a surplus of 3.15 billion USD - although still positive - has decreased by 59.4% compared to a surplus of 7.77 billion USD in the same period last year.
The foreign-invested enterprise sector (FDI) continues to lead with a total turnover of 136.34 billion USD, up 12.3%, accounting for nearly 67% of the total import-export value of the country. Notably, the domestic business sector recorded impressive growth with turnover reaching 66.18 billion USD, up 16.7%, of which exports increased by 13.7% and imports increased by 19.3%.
Exports break out, the US continues to be the largest market
The US continues to maintain its position as Vietnam's largest export market in the first quarter of 2025, reaching nearly 31.4 billion USD, up sharply by 22%, accounting for 31% of total export turnover. Many key export groups grew remarkably such as computers, electronics and components increased by 48.3% (up 2.43 billion USD); machinery and equipment increased by 25.3% (up 1.06 billion USD); textiles increased by 15.2% (up 499 million USD); footwear increased by 15.6% (up 266 million USD). However, some items decreased, such as phones and components decreased by 10.2% (down 312 million USD).
The EU market (27 countries) recorded export turnover of 13.71 billion USD, up 12.9%; China reached 13.17 billion USD, up 1.2%; ASEAN reached 9.17 billion USD, up 1.5%; South Korea reached 6.76 billion USD, up 6.4%. In particular, exports to Achentina exploded, reaching 261 million USD, an increase of nearly 5 times (an increase of 207 million USD), mainly thanks to the group of phones and components.
Regarding the structure of goods, there were 8 export groups of over 1 billion USD in March, accounting for 70% of the total turnover. Computers, electronics and components leading with US $ 8.57 billion, followed by phones (US $ 4.82 billion), machinery and equipment (US $ 4.67 billion), textiles ($ 3.06 billion), footwear (1.9 billion USD), wood (US $ 1.47 billion), transport vehicles (US $ 1.45 billion) and coffee (US $ 1.06 billion).
In the first quarter, exports of computers, electronics and components reached 21.12 billion USD, up 29.2%. In contrast, phones and components decreased slightly by 0.9%, reaching 14.04 billion USD. Other products such as textiles, footwear, seafood, wood and wood products all recorded double-digit growth, showing significant push-ups from external demand.
Import of raw materials and cars increases sharply
Import-export turnover of goods in March 2025 reached 36.88 billion USD, up 12.9% over the previous month and up 19.4% over the same period last year. The strongest increases were the groups: computers and components increased by 10.4% (up 1.08 billion USD); machinery and equipment increased by 27.9% (up 1.06 billion USD); fabric increased by 30.2% (up 312 million USD); cashew increased by 106.9% (up 254 million USD). Up to 43/53 groups of goods recorded an increase compared to the previous month.
In the first quarter of 2025, imports reached 99.68 billion USD, up 17% (up 14.51 billion USD). Computers and electronic components increased strongest with 31.64 billion USD, up 31.5% (up 7.58 billion USD); Machinery reached 12.64 billion USD, up 22.1% (up 2.28 billion USD); Metals and products reached US $ 3.56 billion, up 30.8% (up 837 million USD).
Textile and garment - footwear accessories, flexible materials, completely built-up cars... all increased sharply compared to the same period, in which the import of cars increased by more than 44%. Imports from China continue to account for a large proportion in many product groups, especially electronic components, machinery and flexible materials.
