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The merchandise trade balance for the first five months recorded a deficit of US $13.8 billion, a shift mainly driven by the demand for imported production materials. (Photo: Vietnam+)

According to data released by the General Statistics Office on June 3rd, the total value of goods exports and imports in the first five months of 2026 reached US $445.12 billion, an increase of 25% compared to the same period last year. In May alone, the total value reached US $99.07 billion, an increase of 3.2% compared to the previous month and a 25.8% increase compared to the same period last year.

However, the merchandise trade balance for the first five months recorded a trade deficit of $13.8 billion (compared to a trade surplus of US $5.1 billion in the same period last year). This shift is mainly due to the demand for imported production materials to support economic recovery.

Regarding export activities in the first five months, the turnover reached US $215.66 billion, an increase of 19.5% compared to the same period last year. In May alone, export turnover reached US $46.93 billion, of which the foreign-invested sector (including crude oil) contributed US $37.88 billion, an increase of 22% compared to the same period.

Vietnam had 26 product categories with export turnover exceeding US $1 billion, accounting for 90.7% of the total export value. Processed industrial goods continued to play a leading role with a turnover of US $193.71 billion, accounting for 89.8%. This was followed by agricultural and forestry products at 7.3%, seafood at 2.2%, and fuels and minerals at 0.7%.

Conversely, merchandise imports showed outstanding growth, reaching US $229.46 billion in the first five months, a 30.8% increase compared to the same period last year. The domestic sector imported US $64.26 billion, while the foreign-invested sector imported US $165.2 billion, a strong increase of 34.3%. The structure of import groups shows a focus on production, with production materials reaching US $215.99 billion, accounting for 94.1% of the total import value. Within this, machinery, equipment, tools, and spare parts accounted for 55.7%, and raw materials, fuels, and other materials accounted for 38.4%. In contrast, consumer goods accounted for a modest 5.9%.

Regarding markets, the USA is currently Vietnam's largest export market with a turnover of $69.6 billion. On the import side, China remains the largest supplier of goods with US $92.6 billion, resulting in a trade deficit with this market of US $62.5 billion, an increase of 36.4%. In addition, Vietnam recorded significant increases in the trade deficit with other traditional markets, such as the Republic of Korea (US $21.1 billion, up 72.5%) and the ASEAN region (US $8.6 billion, up 33.1%).

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