Vietnam’s trade numbers are on a tear. A booming export engine and rising imports reflect the country’s deepening role in global supply chains. According to Vietnam import data, Vietnam imports reached a total value of $379 billion in 2024. Vietnam exported goods worth $403.2 billion in 2024, as per Vietnam export data. In this blog, we’ll walk through top-level data, sectoral breakdowns, source/destination trends, and macro drivers, with a key focus on Vietnam import-export data for 2024-25. Let’s dive in.

Snapshot: Vietnam’s Trade Performance

Broader Picture – 2024

• Vietnam’s total trade turnover reached a record $786.3 billion, up 15.4% from 2023, led by strong global demand and rising commodity/import prices. 

• Exports hit $403.2 billion, a 14.3% YoY gain. 

• Imports totaled $379 billion, up 16.7% YoY. 

• Vietnam sustained its ninth consecutive trade surplus—$24.8 billion in 2024. 

Why these numbers matter
Vietnam's export-driven GDP growth—about 7.1% in 2024 —and rising imports signal healthy investment in manufacturing and energy. That surplus reinforces economic stability.

Early 2025 Vietnam Trade Trends

• Q1 2025 (Jan–Mar): total trade surged 13.7% YoY to $202.5 billion; exports grew 10.6% to $102.8 billion; imports were up 17.0% to $99.7 billion. 

• Q1 trade surplus was $3.2 billion (vs $7.7 billion in Q1 2024). 

• Jan–Feb 2025: trade surplus of $1.47 billion; exports rose 8.4%, imports surged 15.9%. 

Takeaway: Vietnam is importing more rapidly, investment is rising, but exports grow steadily.

Vietnam Export Analysis

Sector Breakdown Q1 2025

• Processed industrial goods: $90.9 billion (88.4% of exports). 

• Agri & forestry: $8.9 billion (8.6%)

• Seafood: $2.3 billion (2.3%)

• Fuel/minerals: $0.75 billion (0.7%). 

The dominance of processed goods shows that manufacturing is the engine, driven by FDI.

Electronics & Tech

• Q1 2025 electronics exports totaled $29.3 billion, a 36.2% increase, accounting for 21% of total exports, as per Vietnam customs export data of electronics. 

• February alone saw:

• Electronics & components: $6.5 billion (+38.9% YoY)

• Phones & accessories: $4.4 billion (+11.3%)

Vietnam’s expanding export and production capacity (Samsung, Intel, Apple suppliers) are paying dividends.

Textiles, Garments & Footwear

• Exports reached $44 billion in 2024, with a 2025 target of $47–48 billion; footwear reached $26 billion in 2024 (10% YoY), with a $29 billion 2025 target. 

• Garment exports posted growth (e.g., September 2024: US$4.1B, +9.1% MoM). 

These sectors benefit from FTAs and shifting manufacturing away from China.

Seafood & Agriculture

• 2024 saw seafood exports of $7–8 billion; seafood goals for 2025 include $11 billion. 

• Shrimp: $4B (+16.7%)

• Tuna: $1B (+17%)

• Pangasius: $2B (+9.6%)

• F&W exports $7.2 billion with strong durian, coconuts, and passion fruit gains.

Trade Partners

• United States: Largest export market—surplus with U.S. reached $123.5 billion in 2023, up 20%, as per the US-Vietnam trade. 

• ASEAN (Jan–May 2025): Exports steady at $15.7 billion (+3.2% YoY), but imports surged, leading to a deficit of $6.5 billion (+67%).

• Other key markets: EU, Japan, South Korea, diversified and expanding thanks to FTAs.

Vietnam Import Insights

Total & Growth

• 2024 imports: $380.8 billion, up 16.7% YoY. 

• 2023 had a dip; 2024 rebounded—thanks to coal, machinery, electronics. 

• Q1 2025 imports: $99.7 billion (+17% YoY). 

By Sector (2024)

Top categories :

• Electronics & components: $61.2 billion (+18.2%)

• Machinery & industrial equipment: $42.5 billion (+12.5%)

• Petroleum & fuels: $19.8 billion (+21.7%)

• Textiles & footwear materials: $13.4 billion (+16.4%)

• Chemicals & plastics: $10.5 billion (+14.2%)

• Automobiles & parts: $9.1 billion (+22.3%)

Q1 2025 Import Structure

• Production materials: 93.8% of imports. 

• Machinery, tools, spare parts: 50.8%

• Raw materials & fuels: 43%

• Consumer goods: $6.17 billion (6.2%). 

Country Sources

• China: Dominates cluster with $83–90 billion imports (~22–24% share) .

• South Korea: 8.7%; Japan: 2.8%; also supply from the US, EU, ASEAN & Singapore. 

• Q1 2025: China remained the largest source, followed by South Korea, Japan, and ASEAN nations.

Trade Drivers & Policy Context

Free Trade Agreements

Vietnam has proactively built a broad FTA network, 17 FTAs covering 60 economies. Key agreements include:

• EVFTA (EU, in force Aug 2020). 

• VKFTA (South Korea), UKVFTA, CPTPP, RCEP, Vietnam-UAE CEPA. 

These reduce tariffs, enhance preferential access, and strengthen export performance.

FDI & Global Supply Chains

Foreign-invested sector drives 72% of exports in Q1 2025 ($73.8 b of $102.8 b). Electronics, attire, and machinery thrive on shifts in global sourcing (e.g., from China). Imports are reflecting this: electronics components, machinery, raw materials, almost entirely FDI-led.

Energy & Industrial Growth

Coal imports jumped to avert shortages. Machinery & equipment, industrial materials imports show a vibrant capex cycle.

External Pressures & Policy Shifts

• U.S. tariffs: 25% on steel; 46% threatened on Vietnam goods; recent tentative deal caps at 20%, though 40% for suspected Chinese transshipments. 

• This deal reduces pressure but comes with enforcement details.

• Vietnam is tightening origin certification to avoid penalties. 

Digital & Infrastructure

Vietnam’s digital boom, rising middle class, and ecommerce are expanding the import of electronics & consumer goods. Infrastructure investments—rail, port, energy- are linked to higher import demand (machinery).

Trade Balance Talks & Surplus Ebb

Vietnam has posted trade surpluses for nine years, reaching $24.8 billion in 2024. But the early 2025 surplus narrowed:

• Q1 surplus: $3.16 billion (vs $7.7 billion in Q1 2024). 

• Jan–Feb: $1.47 billion. 

This is driven by strong import growth, indicative of industrial expansion, but potentially reducing the buffer.

Key Trends & Strategic Angles

Electronics Surge – From Assembly to Strategy

Exploded electronics exports (+36% YoY) and imports of components show Vietnam's commitment to becoming a regional tech hub. Must focus on local value-add to resist tariff shocks.

FDI-led Industrial Ecosystem

FDI accounts for 72% of exports and 63% of imports. Strengthen local supply chains (e.g., chemicals, plastics) to reduce import leakages and boost domestic SMEs.

Diversified Trade Partnerships

Though China and the U.S. dominate, multiple FTAs offer resilience against geopolitical shifts. Use EVFTA, UKVFTA, and CPTPP to access premium markets.

Trade Policy Volatility

Stickiness of sources (steel tariffs, U.S. transshipment measures) signals the need for agility: flexible sourcing, compliance systems, and origin verification.

Infrastructure & Digital Dual Play

Investments in rail, power, and ports scale up capacity; digital tools (blockchain, customs systems) and e-commerce are reshaping trade (imports and B2C).

The Road Ahead: What to Watch

1. 2025 Export Targets: Electronics: +30–40%; seafood to $11 billion; textiles/shoes +10%.

2. Trade Balance: Will import-driven surplus erosion broaden?

3. FDI Quality: High-value FDI (semiconductors, EVs) vs low-margin assembly.

4. Trade Frictions: U.S. origin audits, tariffs, will Vietnam meet the threshold?

5. Domestic Suppliers: The capacity of local firms to plug gaps in industrial imports.

6. Infrastructure Projects: High-speed rail, port expansions by China, Japan, EU.

Final Takeaways and Conclusion

Vietnam's trade in 2024–25 represents a dynamic, evolving story:

• Exports are breaking records, driven by electronics, garments, and seafood, underpinned by FTAs and FDI.

• Imports are rising strongly, reflecting investment, industrial growth, but also potential vulnerability.

• The trade surplus remains, but is shrinking, industrial strength vs balance.

• Key risks include trade policy volatility, tariff shocks, and supply chain dependencies.

• Opportunities lie in high-tech upgrades, domestic industrial strengthening, and leveraging trade agreements fully.

By aligning industrial strategy with trade diplomacy, Vietnam can ride the wave of globalization while cushioning against external shocks and deepening its integration into high-value sectors.

To get access to the latest Vietnam trade data or search live Vietnam import-export data by country along with top Vietnam importers & top exporters in Vietnam, you can contact VietnamExportdata at info@tradeimex.in for a customized database report as per your business needs.