Hanoi (VNA) – Vietnam's exports are gaining fresh momentum from a recovery in production, rising year-end orders and relatively strong international demand, with total trade exceeding 712 billion USD after more than seven months.
The positive outlook has raised expectations that key export sectors, including electronics, textiles and garments, wood products and agricultural goods, will continue to expand and help sustain double-digit export growth in 2026.
According to the Customs Department, Vietnam's total trade in the first 15 days of August reached 52.33 billion USD, including 25.41 billion USD in exports and 26.91 billion USD in imports.
Cumulatively, from the beginning of the year through August 15, total trade surpassed 712 billion USD. Exports stood at around 345.4 billion USD, while imports reached 367.3 billion USD, resulting in a trade deficit of nearly 22 billion USD.
Previously, the Ministry of Industry and Trade reported that total trade in the first seven months reached about 659 billion USD, up 28.1% year-on-year, with exports rising 21.7% to 319.7 billion USD.
The rapid increase in imports does not necessarily signal a deterioration in trade performance. It also reflects rising demand for raw materials, components, machinery and equipment for production. For an open economy with a strong export-oriented manufacturing sector, increased imports of production inputs could help expand manufacturing capacity and support deliveries in the final months of the year.
Processed and manufactured products continue to dominate the export structure. In the first half of August, computers, electronic products and components generated 7.32 billion USD in export revenue, followed by phones and components at 3.65 billion USD and machinery, equipment, tools and spare parts at 3.11 billion USD. Textile and garment exports reached 1.84 billion USD, while footwear earned 975 million USD.
Year-end orders provide fresh boost
Improving orders, particularly in manufacturing, are expected to be a major driver of exports in the remaining months of the year. The electronics industry, in particular, has grounds to expect double-digit growth for the full year.
Businesses report that many orders have already been mapped out through the end of the year. The industry's production cycle also favours stronger exports in the final months, as companies typically prepare components, machinery and materials in advance, then accelerate production in September and October for delivery in November and December, when consumer demand in the US and Europe rises.
Global AI investment is also boosting demand for chips, prompting some companies to stockpile components, whose prices have increased by around 5-20%.
The electronics industry is also gradually moving into higher-value activities such as research, design and supply, rather than relying mainly on processing and assembly.
Textiles and garments, wood products and agricultural goods are likewise seeking growth through higher product quality rather than simply expanding output.
Textile and garment exports were estimated at about 27 billion USD in the first seven months, up 2.67%. The sector is focusing on consolidating existing markets, expanding into new ones and increasing domestic sourcing of materials and accessories. Developing domestic fabric and supporting-material production would raise localisation rates, help meet rules of origin and enable businesses to make better use of free trade agreements.
Vietnam's wood industry is also shifting from processing and contract manufacturing towards greater initiative in product design and development. Vietnamese wood products are currently exported to 167 countries and territories, with the US remaining the largest market.
In agriculture, deeper processing, technology and digital transformation are creating further room for growth. Standardising growing-area codes, improving traceability, applying production standards and developing a circular agricultural model can help meet market requirements while creating higher-value products.
With exports up 21.7% in the first seven months, experts expect Vietnam to maintain double-digit export growth for the full year. The Market Analysis and Research Division of MB Securities estimated annual export growth at 17.5-19.8%, while the Ministry of Industry and Trade forecast growth of around 15-16% if there are no major adverse developments./.
